oil supply

Iraq, OPEC’s second-biggest producer, will start exporting Basrah Heavy crude next month after offering discounts for the new grade in Europe, Asia and the

Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels and then pump even

Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of

Oil traded near the highest price this year amid speculation a slowdown in the U.S. shale boom will ease the biggest supply glut since

Saudi Arabia, which increased oil production to 10.3 million barrels a day in March, is ready to bring stability to prices, said oil minister Ali

Refiners are poised to make gasoline at a record pace this year, keeping the biggest U.S. crude glut in more than 80 years from overflowing

Saudi Oil Minister Ali al-Naimi has said oil demand was growing and expected oil prices, which hit a near six-year low in January, to

“We are seeing downside momentum now develop in the

Rebalancing is already under way in the oil market. On the supply side, there are some signs the surge in crude from U.S. shale plays is beginning to level out

Glencore Plc, the world’s biggest listed commodities trader, said 2015 could be a boom year for oil amid the biggest price swings in six

“This tidal wave of crude oil is just too

Oil extended three consecutive weekly gains in London as OPEC ministers signaled their confidence that the market can sustain its

BP Plc boss Bob Dudley is very bearish on the price of oil. He says this feels the same as 1986, when oil slumped from $30 a barrel to $10 and didn’t recover

World's largest independent storage company Vopak will start operations at the first commercial crude oil tank farm in southeast Asia in March, a top company

Oil traded below $47 a barrel as forecasts for rising U.S. crude stockpiles bolstered speculation that a global glut that spurred a price collapse may

Dangerous and difficult oilfields that looked like goldmines when crude fetched more than $100 a barrel have turned into money pits as oil crashes to

West Texas Intermediate oil fell below $50 a barrel for the first time since April 2009 as surging supply signaled that the global glut that drove crude into a

Oil traded near its lowest closing price since mid-2009 amid signs of manufacturing weakness in Europe and

Brent crude traded near $70 a barrel, erasing earlier gains as traders evaluated the impact of OPEC’s decision to maintain output at last week’s meeting.

China is emerging as the winner from OPEC’s battle with rival oil producers as the world’s biggest energy consumer stockpiles