Timor sea oil spill prompts fear of disaster unfolding

Timor sea oil spill prompts fear of a disaster unfolding as Thailand’s PTT Exploration & Production Pcl delayed a fourth attempt due today to plug an Australian well that may ...

OPEC sees global oil market well supplied

OPEC believes the global oil market is well supplied, in spite of a recent rally in crude oil prices and signs that an economic recovery is starting to gain momentum, ...

Light oil price trading around $81 boosted by weaker US dollar

A falling US dollar helped the US light oil price stay above $80 a barrel in trading Monday as oil traders looked to company earnings and US economic data for ...

A post oil world gets less scifi by the day

Just think back to summer last year when oil prices spiked to $150 a barrel – 10 times the level of a decade earlier. In petrol stations in some European ...

OPEC to raise oil output if price hits $100 US

OPEC ministers will raise oil output to protect the global economic recovery at a meeting in December if oil prices rise to $100 per barrel, the group's president said on ...

Oil prices flat around $80 in early Monday trading

Oil prices fell for the third day to below $80 a barrel in early trading on Monday, as investors continued to take profit from last week's one-year high on renewed ...

Iran sees different OPEC views on oil price

OPEC members have different views about the suitable oil price level, Iran's representative in the producer organisation said on Sunday."There are different opinions by different (OPEC) members about the oil ...

Brent oil price hits $80 in Friday trading, weak dollar

Brent crude oil price for December was trading up around 0.8%, to $80.15 on the ICE Futures exchange and traded at $79.97 a barrel at 12:14 p.m Singapore time.Crude ...

Oil trading back up near $82 Friday, year highs

Oil prices rose to near $82 a barrel in trading on Friday in Asia, just below a the 2009 year highs, benchmark crude oil futures for December delivery rose 51 ...

OPEC considering increasing oil output in December

OPEC may increase their oil output targets when the group meets in Luanda, Angola on December 22. OPEC’s Secretary-General, Mr. Abdalla el-Badri, said if oil prices continue to rise; if ...

IEA says oil price spike could damage global recovery

A rapid rise in oil prices could damage the global economic recovery, the head of the IEA said on Thursday, but added it was too early to say if that ...

Oil price hits $82 in late Wednesday trading, weak dollar

Oil prices hit new highs for the year in trading on Wednesday as the US dollar fell to new lows against the Euro, showing how much the weak US currency ...

Higher oil price has companies drilling again

With oil prices at a one year high, oil companies have dusted off idled rigs and kick-started a global production network that thrives on high energy prices.Some oil executives have ...

OPEC not likely to raise oil production in December

Secretary General, Abdalla Salem El-Badri of OPEC said that the cartel will not raise oil production quotas despite the price of oil rising to $77 per barrel.He told reporters in ...

Oil prices back near $80 in afternoon trading, inventories

Light crude oil prices rose back over $80 dollars per barrel to $80.01 trading on the NYMEX, while ICE Brent crude oil futures are currently trading in the $78 dollar ...
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