oil price

Massive oil discovery in Alaska is biggest onshore find in 30 years

Spanish oil giant Repsol (REPYY) and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day, Joinfo.com reports with reference to

Saudi Arabia cut oil output to lowest in two years, predicts further decline

Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day - more than it had promised as part of a global output cut deal between OPEC and non-OPEC producers, Reuters reports. Such levels were last seen in February

Oil hits $50 a barrel for the first time in seven month

Benchmark Brent crude hit $50.22 per barrel at one stage on Thursday, its highest level since early November, BBC reports. The rise followed US data showing that oil inventories had fallen after supply disruptions due to fires in Canada. Brent crude has now

Oil fell below $33 a barrel for the first time since April 2004

January 7, oil prices continued sliding, falling below $33 a barrel for the first time since April 2004 Oil fell below $33 a barrel for the first time since April 2004 because of investors’ concerns of record production and massive stockpiles of unwanted

Oil prices dropped to their lowest in 11 years

Brent crude prices have dropped by nearly 19 percent this month, their steepest fall since the collapse of the failed U.S. bank Lehman Brothers in October 2008, Reuters reports. The U.S. crude futures dropped 31 cents to $34.42 a barrel, their lowest

Russia braces for oil price drop to $30 a barrel

At the meeting in Kazan on Saturday, Russian Finance Minister Anton Siluanov said that he did not exclude the oil price drop to $30 a barrel in 2016, Joinfo.ua reports with reference to RIA.ru. "Everything indicates that low oil prices are likely

The U.S. crude futures fell below $40 on Monday after OPEC

Last week the Organization of the Petroleum Exporting Countries (OPEC) failed to agree on an output target to reduce the oil glut, which caused the prices decline by over 60 percent since 2014, Joinfo.ua reports with the reference to Reuters. Expecting the