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Tag Archives: OPEC

Iran deal reached, Obama hails step towards “more hopeful world”

VIENNA – Iran and six major world powers reached a nuclear deal on Tuesday, capping more than a decade of negotiations with an agreement that could transform the Middle East. U.S. President Barack Obama hailed a step towards a “more hopeful world” and Iran’s President Hassan Rouhani said it proved that “constructive engagement works.” But Israel pledged to do what ...

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OPEC sees more balanced oil market in 2016

LONDON – The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday. In its monthly report, the Organization of the Petroleum Exporting Countries said it expected world oil demand to increase by 1.34 ...

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Oil may have further to fall due to oversupply – IEA

LONDON – Massive oversupply is likely to push oil prices down even further, the International Energy Agency (IEA) said on Friday, adding that the rebalancing of the market was likely to last well into 2016. The agency, which advises the world’s biggest economies on energy policy, said “something has to give” because the world oil market was unable to absorb ...

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Oil prices tumble: noise or fundamentals? Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Brent futures prices tumbled more than 6 percent on Monday, a highly unusual move that has raised questions about whether shifting fundamentals will send the market even lower over the coming months. Over the last month, front-month prices have dropped 17 percent, breaking out of ...

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Oil under $60 beyond 2016 suggests market rethinking shale

NEW YORK – The almost 10 percent nosedive in headline oil prices this week has many hallmarks of a shocking but short-lived slump, triggered by a confluence of external events and exacerbated by safety-seeking investors and momentum-chasing traders. By Tuesday afternoon, the crowded race to the exit was winding down, with prices recovering from three-month lows as traders reassessed the ...

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