Supertankers may halt oil trading, Frontline says

Supertanker owners may start refusing cargoes within the next three months unless rates return to a profitable level, said Frontline Ltd., the biggest operator of the ships which carry almost ...

Angola says OPEC should not change oil quotas

OPEC should not change oil output quotas when it meets next week, said Angola's oil minister, who heads the cartel, according to state media.Oil minister Jose Maria Botelho de ...

Low oil prices hit Algeria Jan to July trade surplus

Lower global oil prices slashed OPEC member Algeria's trade surplus to $1.45 billion in the first seven months of 2009 from $24.85 billion in the same period last year, official ...

Oil set for weekly decline as OPEC may maintain output

Crude oil traded near $68 a barrel, poised for the biggest decline in eight weeks, on speculation OPEC will keep output steady as gasoline demand slows with the end of ...

IEA report raises oil demand outlook on China consumption

The International Energy Agency report raised its forecast for 2009 and 2010 global oil demand, citing strong consumption in Asia, especially China, the world's second-biggest consumer.In a monthly report, the ...

The peak oil crisis as summer ends

The price of oil at the moment is an enigma, are we at another peak oil moment? After falling from nearly $150 a barrel, which nearly throttled the world economy ...

Small oil companies ‘to boost activity’

Small oil companies within the UK have signalled that they are likely to boost their levels of offshore activity on the back of a number of recent government incentives, spelling ...

NYMEX Crude oil near even early, awaits raft of data

NYMEX US crude oil futures straddled narrowly near even early on Monday as traders weighed forecasts for a drawdown in crude stocks and a raft of economic data that could ...

ICE Brent oil climbs above $68, but trend seen lower

Brent crude oil futures climbed back above $68 a barrel on Thursday, buoyed by weekly data showing a sharp fall in US gasoline stocks, but analysts said the short-term direction ...

Oil ends slightly lower in volatile trading

Crude oil futures ended Thursday's volatile trading slightly lower, as investors reacted to a weekly jobless report and to data showing US gasoline consumption jumped last week. Natural gas fell ...

Oil prices trading below $68

Crude oil futures prices ended trading slightly lower Thursday amid lingering concerns over weak US oil demand and high inventories.Light, sweet crude oil for October delivery settled nine cents lower ...