Update: Iranian tanker ‘struck by two missiles’ off coast of Saudi Arabia
Two missiles have struck an Iranian tanker travelling through the Red Sea off the coast of Saudi Arabia, according to Iranian officials.
oil price
Oil plunges on report Saudis may soon resume 70% of lost output
Oil plunged nearly 7% in London after Reuters reported Saudi Arabia is close to restoring 70% of the oil production it lost after this weekend’s attack on a key crude facility in the kingdom.
Oil price spike a welcome but short-lived boost for North Sea, Prof Kemp says
The oil price spike caused by a drone attack on a major Saudi processing facility will provide a welcome − but short-lived − boost to North Sea revenues, a prominent petroleum economist has said.
Oil set to drop as IEA warns OPEC faces looming surplus
Oil is set for its biggest weekly loss in nearly two months as the International Energy Agency warned of a looming supply glut, while OPEC and its allies urged members to maintain, rather than deepen, output cuts.
Aberdeen Harbour hails surge of imports thanks to rising oil price
Aberdeen Harbour has hailed a burst of new activity thanks to the rising oil price.
Brexit and oil price dent profits at Burness Paull
Brexit and the delay in oil price recovery caused profits at Burness Paull to fall in the last 12 months.
Untapped ‘clusters’ present two billion barrel prize for North Sea
The North Sea energy industry could recover another two billion barrels of oil if operators can collaborate on untapped discoveries, according to a new study.
Oil price struggles to recover after worst reaction to OPEC in four years
Oil struggled to recover after suffering its worst reaction to an OPEC meeting in more than four years.
Oil slips as gloomy economic data takes shine off OPEC deal
Oil edged lower as investors weighed troubling economic data from around the world against OPEC’s extension of output cuts into 2020.
OPEC set to extend oil output cuts into 2020 as demand falters
The OPEC+ alliance is poised to extend production cuts into 2020 as the world’s leading oil exporters fret about a weakening outlook for global demand growth and the relentless rise in output from America’s shale fields.
Cnooc’s UK business posts £1bn pre-tax profit
A recovering oil price drove a boost to profits for Cnooc’s operations in the UK and Ireland in 2018.
Oil drops below $54 as global recession, supply concerns mount
Oil closed down in New York for the first time in three days amid rising concerns about the likelihood of a global economic contraction and mounting supplies.
Oil optimism slumps to 12-week low as price dips to bear market
Hedge funds kept running away from oil as prices tumbled into a bear market.
OPEC suggests oil supply freeze could continue ‘for months to come’
Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages.
Oil jumps as OPEC signals continued cuts and U.S. threatens Iran
Oil started the week strongly after Saudi Arabia and other OPEC+ members signaled intentions to keep supplies constrained for the rest of the year, while U.S. tensions with Iran ratcheted up as President Donald Trump threatened the country in a tweet.
Oil price could shoot ‘violently upwards’ after Middle East tanker attacks, Rystad says
The global oil price could shoot “violently upwards” following supply disruptions in the Middle East, including attacks on a pair of oil tankers.
Oil price rise stimulates deals activity
Anderson Anderson & Brown Corporate Finance (“AABcf”) are delighted to share with you our quarterly Deals+ update for Q1 2019 in conjunction with Energy Voice, highlighting selected Oil & Gas M&A and Fundraising transactions across the UK.
Crude at five-month high as U.S. gasoline stockpiles tumble
Crude closed at a five-month high after U.S. government data showed the biggest decline in gasoline stockpiles since 2017, offsetting an increase in crude inventories.
Saudis urge OPEC+ to stick with oil cuts as job not yet done
OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said.
Oil poised for weekly gain as OPEC+ curbs counter trade worries
Oil headed for its biggest weekly gain in a month as the OPEC+ coalition’s supply cuts and reduced output from the world’s biggest offshore field overshadowed renewed concern over the U.S.-China trade war.
Concern growth may be slowing over US-China trade war
Oil extended its retreat as investor appetite for risk assets shrank and uncertainty persisted over how much OPEC will need to cut output to counter booming U.S. shale supplies.
Oil price rollercoaster ride as supply uncertainty persists
Oil continued on its rollercoaster ride, with volatility soaring on uncertainty over OPEC and American supply, a trade war between the U.S. and China and the Federal Reserve’s monetary policy.
Biggest rebound in two years for oil price
Oil held its biggest gain in two years, after being swept up in a rebound across risk assets spurred by optimism about the global economy.
OPEC is in `whatever it takes’ moment to prop up oil prices
OPEC hasn’t even started implementing its new six-month agreement to cut output, and already members responsible for most of the reductions have pledged to extend or even deepen it.
Oil unlikely to go above $70 through 2020, says Moody’s
Brent crude is unlikely to go above $70 a barrel through 2020, according to US credit rating agency and financial analyst Moody’s.