De Leeuw: The sector’s $1.3trillion question
Who would have thought in the summer of 2014 that the industry would long for the oil price to recover to $61 per barrel?
oil price
Oil price architect marshals more crude supply after China spree
When you determine the price of most of the world’s oil, you need to keep up with the times.
Oil nears lowest price since 2009 after US supply glut expands
Oil neared the lowest level since February 2009 as U.S. crude inventories surged and the Federal Reserve raised interest rates for the first time in almost a decade.
Scotland “bankrupt” claim as MPs clash over SNP oil revenue predictions
Scotland would be “entirely bankrupt” and probably “scuttling” for help had it secured independence, a business minister has claimed.
UK inflation closer to 0% as oil price stays low
Inflation is expected to edge to zero when official figures for November are published today, as oil price cuts and Black Friday discounting eased compared to a year ago.
Oil sinks to lowest in almost seven years as Iran vows more supply
Oil extended declines from the lowest price since February 2009 as Iran pledged to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply.
Kemp: cause for optimism towards 2017 but 2016 will be “painful”
Oil expert Professor Alex Kemp has said there is some cause for optimism that the oil price may rally in 2017, but not before it endured a "painful" 2016.
Oil falls to lowest since 2008 as OPEC fuels supply glut
Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to scrap production limits will keep the market oversupplied.
Brent bounces back above $40 dollars
Oil prices bounced back today after hitting near-seven year lows, but mining stocks remained under pressure on the London market amid fears over the global economy.
Apache boss says still possible to make money in UK sector despite oil price
Cory Loegering, Apache’s regional VP and MD for the North Sea said it was possible to make money from the UK sector despite the current oil price.
OPEC agrees to increase oil output ceiling heralding oil price fall
OPEC has agreed to set a new oil-output ceiling of 31.5 million barrels a day, according to a delegate with knowledge of the decision.
Indonesia can return to OPEC but can’t escape ageing oil fields
For the first time in seven years, OPEC’s newest member will increase crude production. It will likely be just a blip.
An OPEC decision not to cut production could hit North Sea oil sector says KPMG
OPEC's widely anticipated decision not to cut production could have far reaching consequences for the global oil markets - and the North Sea oil industry - according to experts at KPMG.
OPEC heads for status quo as members clash over oil production policy
OPEC looked on track to maintain the status quo after member states clashed over oil production policy at an unusual informal gathering before the group’s official meeting in Vienna today.
Diesel prices hit a six-year low
The average price of diesel has reached a six-year low, new figures show.
Iran says most of OPEC supports cut except Gulf Arab states
The majority of OPEC members would agree to a reduction in crude production at Friday’s meeting, with the exception of Saudi Arabia and the Persian Gulf Arab countries, Shana reported, citing Mehdi Asali, director general of OPEC and energy forums at the Iranian Ministry of Petroleum.
Oil prices dip on supply glut and shaky Chinese data
Crude oil futures fell today, bringing losses this month to more than 8%, as disappointing Chinese data and worries over a supply glut overshadowed geopolitical concerns.
Petrol dips under £1 per litre as Asda cuts price of fuel
Supermarket Asda dropped the price of unleaded petrol today - despite saying it would not take part in the Black Friday discount day.
Oil pares weekly advance as Libya seeks to boost crude supply
Oil pared its first weekly gain in a month as Libya sought to increase output and Russia ruled out military retaliation against Turkey for downing its jet near the Syrian border.
Oil and gas helps UK energy production rise by record amount
The latest provisional monthly energy statistics produced by the Department of Energy and Climate Change released today reveal energy production rose by a record 14.2% boosted by increased North Sea oil and gas production.
Oil jumps as Mideast tensions rise after Russian plane downed
Oil jumped after Turkey shot down a Russian warplane near the border with Syria, fanning concern that conflict in the region may intensify.
Saudi Arabia says it will work to stabilise oil price
Saudi Arabia’s government has reiterated its commitment to work with OPEC members and other producers to stabilise the oil market.
Oil slides as Venezuela sees mid-$20 crude if OPEC doesn’t act
Oil extended its decline amid a broader commodity rout while Venezuela predicted crude prices may drop as low as the mid-$20s a barrel unless OPEC takes action to stabilize the market.
Oil traders braced for next big price drop in March 2016
Oil traders are preparing for another downward turn in prices by March 2016, market data suggests.
Norway oil lobby doesn’t anticipate investment rebound until 2018
Norwegian oil and gas investments will fall sharply in the next two years as low crude prices lead oil firms to cut back on spending, according to the Norwegian Oil and Gas Association, the industry's lobby group.