energy minister

 
 

Once Opec’s oil-price dove, Saudi Arabia takes a harder line

LONDON, Feb 19 — For decades, Saudi Arabia was the voice of moderation within Opec, pushing back against the urging of members like Venezuela and Iran for higher oil prices. That role seems to be shifting. Thanks to Opec-led production cuts,…


Oil gains as dollar sags near three-year low; many Asian markets shut

TOKYO, Feb 16 — Oil prices edged higher today as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday. NYMEX crude for March delivery was up 16 cents, or 0.3 per cent, at…


Oil extends gains on Saudi commitment to cutting output, weak dollar

SINGAPORE, Feb 15 — Oil prices rose more than 1 per cent today to extend gains from the previous session, lifted by a weak dollar and Saudi comments that it would rather see an undersupplied market than end a deal with Opec and Russia to…


A year into Opec’s production cuts, Asia’s oil markets have tightened

SINGAPORE, Feb 15 — Just over a year into production cuts lead by Opec and Russia, oil markets in Asia have tightened noticeably as significant amounts of excess crude have been taken off tankers used for storage and delivered to customers…


Oil extends gains on Saudi commitment to cut, weak US dollar

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SINGAPORE (Feb 15): Oil prices on Thursday extended gains from the previous session, pushed up by a weak dollar and by comments from Saudi Arabia that it would rather see an undersupplied market than end a deal with OPEC and Russia to withhold production. US West Texas Intermediate (WTI) crude futures were at US$61.02 a barrel at 0147 GMT, up 42 US cents, or 0.7% from their last settlement, adding to a 2.4% gain in the previous session. Brent crude futures were at US$64.64 per barrel, up 28 US cents,Read More


Asian stocks rally despite US inflation spike, dollar on defensive

TOKYO, Feb 15 — Asian stocks gained today after Wall Street brushed aside strong US inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a…


Bonds plunge, global stocks surge on spike in US CPI data

NEW YORK, Feb 15 — Treasury prices plunged yesterday after a spike in US consumer prices in January raised expectations the Federal Reserve may quicken the pace of interest rate hikes, while global stocks rallied as investors took inflation in…


Saudi Arabia says prefers tighter oil market to early exit from cuts

RIYADH, Feb 14 — Opec would do better to leave the oil market slightly short of supplies rather than ending too early a deal on cutting output, Saudi Energy Minister Khalid al-Falih said today. Oil prices have slid nearly 15 per cent in the…


Crude climbs as Opec sees global demand trumping shale’s growth

NEW YORK, Feb 12 — Crude rose after the worst weekly decline in two years as Opec shrugged off the threat that US shale drillers will swamp the market with excess supplies. Futures in New York advanced as much as 2.8 per cent, the biggest…


Oil sinks to five-week low as investors eye charts for direction

NEW YORK, Feb 9 — Oil spiralled to the lowest in five weeks as surging US crude supply coupled with technical indicators signaling the potential for further price declines. Futures fell for a fifth day in New York, posting the longest streak…