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Tag Archives: brent crude

Oil market takes a walk on the wild side (again): Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Crude oil prices have been on a rollercoaster over the last four trading sessions that has seen some of the highest volatility in a quarter of a century. The market is providing a brutal reminder of the extreme side of commodity pricing, leaving many analysts ...

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Russia to see bigger slump as global outlook worsens: Reuters poll

MOSCOW – Russia’s economy is heading for a bigger contraction this year than previously expected as a lower oil price and weaker global economy weigh, a Reuters poll of analysts predicted on Monday. Economists are revising down their forecasts after a renewed slide in the international oil price, exacerbated by global concerns focused on China’s weakening economy. The poll of ...

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Oil markets catch breath after biggest gains in six years

SEOUL – Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies. Stock markets around the world rallied on Thursday, shaking off a slump related to China growth fears, as strong U.S. economic data boosted investor sentiment, and ...

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OPEC is producing at a loss, Ecuador admits

Member nations with the Organization of Petroleum Exporting Countries (OPEC) are feeling the financial stress created by low oil prices and many, such as Equador, are now pumping oil at a loss. As reported by FuelFix, earlier this week Ecuador President Rafael Correa said that while production costs average about $39 per barrel, the country is fetching as little as ...

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Mood sours among Saudi businessmen as oil slides

RIYADH/KHOBAR, Saudi Arabia – Saudi Arabian entrepreneur Essam al-Zamel has overcome many obstacles to found a string of technology companies in the past decade, but he thinks sliding oil prices will be hard to handle. “A black economic cloud is covering the skies of Saudi Arabia,” Zamel tweeted last week, warning that prices might not recover for five or 10 ...

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