At least partly offsetting the supply cuts has been a surge in US crude oil production by more than 2 million bpd in 2018.
18 Feb 2019 10:21 AM
International Brent crude futures were up 50 cents, or 0.8 per cent, at USD 62.01 per barrel.
12 Feb 2019 10:24 AM
US crude oil production remained at the record 11.9 million barrels per day (bpd) it reached in late 2018.
07 Feb 2019 10:28 AM
International Brent crude futures were down 21 cents, or 0.4 percent, at 0258 GMT at $55.74 a barrel.
04 Jan 2019 10:38 AM
Investors have flocked to perceived safe-haven assets such as gold and government debt, at the expense of crude oil and stocks.
25 Dec 2018 1:24 AM
India is world's third largest oil consuming nation, which is more than 80 per cent dependent on imports to meet its energy needs.
07 Dec 2018 12:18 PM
In a viral image, Putin and Saudi prince gave each other an effusive handshake as if they were long-lost friends reunited.
01 Dec 2018 2:48 PM
Brent fell 11.3 per cent and WTI posted a 10.8 per cent decline, the largest one-week drop since January 2016.
24 Nov 2018 10:16 AM
Oil prices advanced steadily through Monday, with both Brent Crude and West Texas Intermediate seeing gains of more than dollar per barrel.
12 Nov 2018 5:00 PM
Saudi Arabia is the only country with the capacity to make up for lost Iranian oil production.
05 Nov 2018 9:39 AM
Saudi is only producer with significant spare capacity of around 2 million bpd that can be tapped to compensate loss of Iranian supplies.
04 Nov 2018 1:37 PM
Brent crude futures had gained 47 cents, or 0.6 per cent, to $76.38 a barrel by 0441 GMT.
31 Oct 2018 11:38 AM
The global benchmark is on course for a weekly loss of over 4 per cent.
26 Oct 2018 12:41 PM
Global oil demand is expected to increase by 14.5 million bpd from 2017 to 111.7 million bpd in 2040.
16 Oct 2018 11:28 AM
Extra cargoes show Saudi's willingness to increase crude supply to make up shortfall once US sanctions on Iran start on Nov 4.
10 Oct 2018 5:46 PM
US West Texas Intermediate (WTI) crude futures were down by 24 cents, or 0.3 per cent, at $74.53 a barrel.
09 Oct 2018 10:43 AM
Oil prices have been rising as US sanctions against Iran’s crude exports are set to start next month.
08 Oct 2018 10:54 AM
Saudi Arabia is the world's top oil exporter and the de facto leader of OPEC, which has been criticized by Trump for high oil prices.
03 Oct 2018 10:24 AM
'The role of the oil wells today will be that of the Sun's rays tomorrow,' PM Modi said at the meeting in New Delhi.
03 Oct 2018 9:37 AM
Brent has risen by around 20 per cent from the most recent lows in August.
02 Oct 2018 11:11 AM