06282016Tue
Last update: Tue, 28 Jun 2016 06pm

Europe

Markets - Energy - Europe

IEA sees 'limited' impact from potential Doha oil output freeze PARIS: The global oil glut that has hit companies hard but meant cheap prices for consumers is set to ease by year's end, the International Energy Agency (IEA) said Thursday.However it said that any potential production freeze agreed by leading oil producers due to meet in Qatar on Sunday would only have a "limited" impact on supplies.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Energy - Europe

Oil prices fall on producer meeting doubts, stronger dollar LONDON: Oil futures traded lower on Wednesday on concerns that a producer meeting set for Sunday in Doha to discuss freezing output will do little to trim oversupply as well as a strengthening dollar.Brent crude was down 41 cents at $44.28 per barrel at 1049 GMT. It hit a four-month high in the previous session before settling up $1.86.U.S. crude declined by 56 cents to $41.61 a barrel after gaining $1.81 a day earlier.Comments by ...

Markets - Energy - Europe

OPEC cuts 2016 oil demand growth forecast, warns of more LONDON: OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year.The Organization of the Petroleum Exporting Countries also said top exporter Saudi Arabia kept output steady in March - a sign Riyadh is serious about a plan to be discussed this weekend to freeze output and support prices - while OPEC supply ...

Markets - Energy - Europe

Oil price rally peters out, as OPEC warns over supply LONDON: Oil prices retreated on Wednesday as a rally fuelled by reports Saudi Arabia and Russia had agreed to an output freeze petered out.Prices shot to 2016 highs on Tuesday, as reports that two of the world's biggest crude producers had reached a consensus boosted expectations of a wider deal could be struck at a key meeting in Doha on Sunday.But the market faded on Wednesday with traders booking profits ahead of US inventory data ...

Markets - Energy - Europe

Russia's Sechin sees oil price recovery as global investments drop LAUSANNE: Oil prices cannot remain low for a long time as the drop in investments in the industry has already exceeded $250 billion and will start taking a toll on many high-cost projects around the world, the head of Kremlin oil major Rosneft said on Tuesday. Igor Sechin told the FT Global Commodities Summit he believed the US shale oil project needed an oil price of at least $45-$50 per barrel to continue growing production.Copyright ...

Markets - Energy - Europe

Oil price dips as banks caution on impact of producers' meeting LONDON: Oil prices slipped on Monday after banks dampened hopes that the meeting of producers in Doha next Sunday, aimed at freezing current output levels, would improve the demand-supply balance. Brent crude futures, the global benchmark, fell by 10 cents to $41.84 a barrel by 1208 GMT, retreating from last week's rally to a three-week high reached on Friday after a drop in the rig count of US drillers to its lowest since November 2009. ...

Markets - Energy - Europe

Mexico's CFE buys 6 LNG cargoes LONDON/MILAN: Mexico's state-run power company CFE has purchased six liquefied natural gas (LNG) cargoes from BP, Citi and Vitol, three traders said. CFE bought three cargoes from BP, two from Citi and one from Vitol, two traders said. Mexico originally tendered for seven cargoes for delivery in 2016. Copyright Reuters, 2016 ...