Brent and U.S. crude oil futures pared losses on Thursday, beset by deeper geopolitical concerns on witness reports that police fired upon protesters in Saudi Arabia’s Eastern province. Get the full story »
Inside these posts: OPEC
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OPEC mulls boosting oil output
OPEC oil producers are consulting about a supply boost but many in the group remain sceptical, saying high prices are due to fears of shortage and world supply is comfortable despite the loss of Libyan crude. Get the full story »
March 7 at 6:46 a.m.
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Filed under: U.S. oil tops $106, highest in 2.5 years
Oil prices rose to a fresh 2-1/2 year high early Monday, climbing above $106 a barrel, as the violence in Libya continues to unsettle the market. Get the full story »
As OPEC gathers, Saudis say oil supply ample
World markets have plenty of oil, top exporter Saudi Arabia said Monday, as a wave of revolution that has toppled two presidents tightened its grip on OPEC member Libya and drove prices to a 2-1/2 year-high.
Energy ministers arrived in the Saudi capital Riyadh on the eve of talks designed to narrow the gap between producer and consumer nations. Get the full story »
Arab OPEC ministers to meet as oil price tops $90
Core OPEC ministers began arriving in Cairo on Thursday, ahead of talks that were expected to broach how high an oil price the world economy can stand as the market hovers near two-year peaks above $90 a barrel.
A full conference of the Organization of the Petroleum Exporting Countries earlier this month elected to make no change to an output policy it has stuck to since December 2008.
Since then oil has maintained a more than 30 percent rally from this year’s low struck in May and this week scaled a high of $90.80, the steepest in two years. Get the full story »
OPEC set for no change despite $90 oil
OPEC will not raise oil supplies at a meeting on Saturday, Saudi Oil Minister Ali al-Naimi said, leaving traders to ask what price the group requires to open the taps and prevent fuel inflation hurting global economic recovery. Get the full story »
