News Archive for: December 2014

(Reuters) – Crude oil prices are likely to bottom out in the first half of 2015, until a possible slowdown in U.S. shale production counters a supply glut exacerbated by OPEC’s decision not to cut output, a Reuters monthly survey showed.

The Organization of the Petroleum Exporting Countries’ agreement…

Oil rose above $62 a barrel on Monday, mirroring gains in equities, as investors became more confident that there would be no further substantial price loss in the run-up to the New Year.
Saudi Arabia’s oil minister, Ali al-Naimi, said on Sunday that lower crude prices would help demand by…

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would likely remain above $60 for the rest of the year.MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3% in early trade,…

Wood, former chief executive and chairman of Aberdeen–based oil services firm Wood Group, said comments earlier this week from independent explorers association Brindex that the North Sea faced a “huge crisis” because of crude prices plunging below $60 a barrel were “over the top”.

After recently leading a Government review…

Oil closed up as much as 5% on Friday, its biggest gain in over two years, as some traders took profits on short positions after prices this week hit their lowest since 2009.

http://www.upstreamonline.com/live/1387242/Brent-surges-closing-above-61