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Christopher Johnson

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Oil prices higher as OPEC grapples with oversupply

LONDON Oil prices rose further on Thursday, building on two days of increases after Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.

Jan 19 2017

OPEC output cuts under scrutiny as market tightens: IEA

LONDON World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised, the International Energy Agency (IEA) said on Thursday.

Nov 10 2016

Oil prices rise as markets recover from Trump shock

LONDON Oil prices reversed early losses to push higher on Thursday as markets recovered from their initial shock at U.S. President-elect Donald Trump's surprise victory, although traders said that crude fundamentals remained weak.

Oct 21 2015

OPEC will keep oil output high, traders say

LONDON Saudi Arabia and the other big Middle East oil producers in OPEC will keep pumping hard to build market share despite mounting over-supply that has brought prices to six-year lows, the world's top traders say.

Oct 13 2015

Oil glut to persist as global demand growth slows: IEA

LONDON A global oil supply glut will persist through 2016 as demand growth slows from a five-year high and key OPEC members maintain near-record output, the International Energy Agency said, even as low prices curb supply outside the producer group. | Video

Oct 13 2015

Oil glut to persist as global growth demand slows - IEA

LONDON A global oil supply glut will persist through 2016 as demand growth slows from a five-year high and key OPEC members maintain near-record output, the International Energy Agency said, even as low prices curb supply outside the producer group.

Oct 07 2015

Oil up as U.S. production falls, stockpiles draw

LONDON Oil prices rose on Wednesday after data showed the U.S. market was beginning to tighten, with falling supply and lower inventories after two years of heavy surplus.

Oct 05 2015

Oil up 2 percent as Russia mulls OPEC talks, rigs drop

LONDON Oil rose more than 2 percent on Monday after Russia said it was ready to meet other producers to discuss the market, where prices have more than halved from last year's highs due to a supply glut.

Sep 11 2015

IEA sees U.S. oil output collapsing next year on low prices

LONDON Lower oil prices will force non-OPEC producers including the United States to cut output by the steepest rate in more than two decades next year, rebalancing an oversupplied oil market, the International Energy Agency said on Friday.

Sep 11 2015

IEA sees U.S. oil output collapsing next year on low prices

LONDON Lower oil prices will force non-OPEC producers including the United States to cut output by the steepest rate in more than two decades next year, rebalancing an oversupplied oil market, the International Energy Agency said on Friday.

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