Oil in global economy series: Drillers face worst time in decades and saga to continue
Feb 19, 2016 10:07 am UTC| Commentary
If anyone is hurt the most in energy segment, its the drillers. Analogy is quite simpler, which hard evidence proves. Fact check Oil price has fallen around 70%, since mid-2014. Then price was hovering above...
Saudi Arabia and Russia to rescue oil slumps, other OPEC nations lead for supply glut
Feb 17, 2016 13:24 pm UTC| Insights & Views
Iran unlikely to agree on production freeze. Saudi Arabia would export less oil in summer months in case of production freeze. Oilis trading near a 12-year low as record stockpiles continue to swell more than a year...
Real cut in oil output required to boost prices in short-term, oil freeze not enough
Feb 17, 2016 06:51 am UTC| Commentary
Saudi Arabia and Russia have agreed to freeze oil output at January 2016 level if other large producers join them too. This has put pressure on Iran to restrict production as it is the only other producer apart from Saudi...
Charged up Gulf delegates indicates prospect of further actions
Feb 16, 2016 12:36 pm UTC| Commentary
Gulf executives are a bit charged up today, as Saudi Arabia and Russia was able to agree over production freeze at January level and Saudi Arabias all powerful oil minister called the meeting a success. Whether the deal...
Oil focuses on Doha, up 4% for the day
Feb 16, 2016 07:32 am UTC| Commentary
Thanks to diplomatic effort by Venezuela, Saudi Arabias powerful oil minister Ali al-Naimi will meet his Russian counterpart Alexander Novak, in Doha today. Venezuela has been calling for cooperation between largest OPEC...
Oil prices rise despite downbeat Chinese import data
Feb 15, 2016 10:48 am UTC| Commentary
On Friday, oil prices advanced by more than 10%as Brent rose to $33.5 per barrel, while WTI gained to $29.7 per barrel. Oil prices continue to strengthen, despite weakness in Chinese import data. Chinas February oil...
U.S Oil trades above major resistance $29.05, jump till $31.50 is possible
Feb 15, 2016 06:25 am UTC| Technicals
Major resistance - $29.05 (7 day EMA) Major support - $28.20 US oil has closed above $29.05 on Friday and jumped till $29.63. It is currently trading above $29.40. Short term trend is bullish as long as...
Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility
Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget
Why Germany ditched nuclear before coal – and why it won’t go back
Labour can afford to be far more ambitious with its economic policies – voters are on board
Sudan: civil war stretches into a second year with no end in sight