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Oil price

Latest news and analysis on the impact of the price of Brent and West Texas Intermediate

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman and Russia's Deputy Prime Minister Alexander Novak at a meeting in Saint Petersburg in June. Reuters

Oil edges higher amid prospects of further supply cuts

EnergyAugust 31, 2023
A man walks onto a dock ahead of Hurricane Idalia in Florida. Bloomberg

Oil extends gains on large drop in US crude stocks and hurricane concerns

EnergyAugust 30, 2023
Bernard Looney, chief executive of BP, addresses the gathering on the second day of the three-day B20 Summit in New Delhi. AFP

BP chief urges more oil and gas investment to avoid price spikes

EnergyAugust 26, 2023
Drilling rigs and pump jacks on Lake Maracaibo in Cabimas, Venezuela. Reuters

Oil down on weak manufacturing data and easing supply worries

EnergyAugust 24, 2023
Iranian technicians work in the Azadegan oilfield. Tehran’s oil exports have faced restrictions since the US withdrew from the 2015 nuclear agreement. AP

Oil prices dip amid China demand concerns and US crude stock drop

EnergyAugust 23, 2023
Turkey and Iraq are set to hold talks on the possible resumption of oil exports via the Ceyhan terminal. Reuters

Oil prices drop amid potential easing of limited supply

EnergyAugust 22, 2023
US crude inventories, an indicator of fuel demand, fell by 6.2 million barrels last week, according to the American Petroleum Institute. Getty Images

Oil-price slide continues amid concern over China's growth

EnergyAugust 16, 2023
The International Energy Agency says China will account for 70 per cent of crude demand growth this year. Getty Images

Oil prices post seventh weekly gain in a row

EnergyAugust 11, 2023
Crude storage tanks at the oil hub in Cushing, Oklahoma, about 80km west of Tulsa. Reuters

Oil prices rise on large drop in US crude stocks

EnergyAugust 02, 2023
Crude oil storage tanks in Cushing, Oklahoma. Reuters

Oil posts quarterly losses on interest rate and demand concerns

EnergyJune 30, 2023
UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said he is more worried about the investment required in the coming years. Antonie Robertson / The National

Opec+ cuts aimed at balancing oil market, UAE minister says

EnergyMay 09, 2023
Saudi Aramco's Ras Tanura oil refinery and oil terminal. Opec+ members Saudi Arabia, the UAE, Iraq, Kuwait and Algeria have agreed to voluntary oil production cuts. Reuters

Saudi Arabia, UAE and allies announce surprise oil production cuts

EnergyApril 02, 2023
A pumpjack in Emlichheim, Germany. Despite registering weekly gains, oil is set to post a fifth monthly loss at the end of March, largely driven by a banking sector crisis. AP

Oil posts weekly gain as Kurdish supply disruption continues

EnergyMarch 31, 2023
An oilfield operated by ExxonMobil in Basra, Iraq. Reuters

Iraq committed to complying with Opec+ output cuts, oil minister says

EnergyMarch 19, 2023
A petrol station in Cairo, Egypt, where the national government has increased domestic fuel prices. Reuters

Egypt increases fuel prices by more than 10 per cent

EnergyMarch 02, 2023
People at a shopping district in Beijing. Growth in China is expected to increase to 5.2 per cent in 2023 from three per cent last year, according to the International Monetary Fund. EPA

China’s reopening estimated to raise global GDP by 1% this year

EconomyFebruary 06, 2023
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