New signs of possible OPEC production cuts
Feb 12, 2016 15:07 pm UTC| Commentary
Markets see some new signs that OPEC and some non-OPEC countries could perhaps agree on production limits after all. Igor Sechin, CEO of Rosneft - the largest Russian oil corporation spoke out in favour of a coordinated...
OPEC likely to agree on production limits
Feb 12, 2016 11:03 am UTC| Commentary
Brent price soared up 5% just short of $32 per barrel mark, while WTI trades under $28 per barrel after it hit a 12½-year low of $26 per barrel in its previous session. Signs of relief are seen in the markets as...
A renewed increase in crude oil stocks likely
Feb 11, 2016 16:01 pm UTC| Commentary
Reduction of US crude oil stocks probably just a flash in the pan said Commerzbank in a report. Data yesterday showed that US crude oil stockpiles fell to the surprise of markets, -754K vs +2850K expected. The inventory...
Russia and Iran are fighting together – but are they as close as it seems?
Feb 11, 2016 13:12 pm UTC| Insights & Views
After years of isolation, Iran is slowly coming back in from the cold after the deal to curb its nuclear programme. And as it starts to reassert itself more openly in the world order, its rekindling a stormy affair with an...
IEA report shows slim chances for a recovery in oil prices
Feb 10, 2016 16:38 pm UTC| Commentary
Oil prices literally plummeted on Tuesday evening, with Brent down nearly 8% in the last hours of trading, while WTI fared somewhat better with losses of 6%. IEA monthly reports showed that the worldwide inventory build...
Lower oil prices likely to sustain Philippines’ current account surplus
Feb 10, 2016 04:54 am UTC| Commentary Economy
Philippines December exports contracted for the ninth consecutive time on year-on-year basis. Weakness in exports of textiles, food and furniture mainly led to the overall decline in exports. The countrys shipments to...
Crude seems to shrugs off Russian talks with OPEC – target $25 back in on action
Feb 09, 2016 12:31 pm UTC| Insights & Views
Over the past couple of days, every now and then Russia has apparently raised the proposals for a 5% curtail in the production beside OPEC, this advancement has brought in a little relief in crude price over the short term...
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