News

Oil prices tick up amid geopolitical tension

The West Texas Intermediate for November delivery was up 0.18 U.S. dollar to settle at 51.47 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery rose 0.52 dollar to close at 57.75 dollars a barrel o......【more】

2017-10-25

Oil prices waver narrowly ahead of OPEC meeting

NEW YORK, Sept. 21 (Xinhua) -- Oil prices settled mixed on Thursday as ministers from the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers are going to meet in Vienna on Friday. The West Texas Intermediat......【more】

2017-09-25

OPEC oil output reaches seven months high

VIENNA, Aug. 10 (Xinhua) -- OPEC oil output reaches the highest level in the past seven months, breaking the output ceiling deal agreed last November for the second months, the cartels monthly report showed on Thursday. Total OPEC-14 crude......【more】

2017-08-18

Oil prices edge up on weaker dollar

NEW YORK, Aug. 11 (Xinhua) -- Oil prices edged up on Friday as dollar weakened, but posted second straight weekly lost as global glut persists. The West Texas Intermediate for September Delivery added 0.23 U.S. dollar to settle at 48.82 dol......【more】

2017-08-14

Production of Egypt's state-owned oil firm unprecedented: ministry

Cairo, Aug. 4 (Xinhua) -- Production of Egypts state-owned General Petroleum Company has unprecedentedly hit 57,000 barrels of oil per day, Petroleum Ministry said on Friday. In a press statement, the ministry said the companys production h......【more】

2017-08-11

Oil prices fall on OPEC compliance concerns

NEW YORK, Aug. 7 (Xinhua) -- Oil prices fell on Monday as investors were concerned that major oil exporters output cut deal may not be effective enough. The West Texas Intermediate for September Delivery lost 0.19 U.S. dollars to settle at......【more】

2017-08-09

Nigerian army recovers 21 bodies of ambushed oil exploration crew

ABUJA, July 30 (Xinhua) -- The Nigerian Army early Sunday said 21 additional bodies of an oil exploration crew, who were ambushed by a terror group in the countrys northeast, have been recovered. The army also recovered vehicles and various......【more】

2017-08-04

Nigerian army recovers 21 bodies of ambushed oil exploration crew

ABUJA, July 30 (Xinhua) -- The Nigerian Army early Sunday said 21 additional bodies of an oil exploration crew, who were ambushed by a terror group in the countrys northeast, have been recovered. The army also recovered vehicles and various......【more】

2017-08-04

Houston's oil firm announces significant discovery in Mexico's waters

HOUSTON, July 12 (Xinhua) -- The Houston offshore production company Talos Energy LLC on Wednesday announced a significant oil discovery in a region along the southern coast of the Gulf of Mexico. According to a news release by Talos Energy......【more】

2017-08-01

OPEC oil output rises in June

VIENNA, July 12 (Xinhua) -- OPEC oil output keep rising as Libya and Nigeria pumped more oil in June, the monthly report of the oil cartel showed on Wednesday. The Organization of the Petroleum Exporting Countries (OPEC) pumped 32,611 milli......【more】

2017-07-31

In pics: oil sunflower field in C China's Henan

Tourists walk along the oil sunflower field in Xigou Village of Taowan Town in Luanchuan County, central Chinas Henan Province, July 22, 2017.......【more】

2017-07-26

Oil prices fall ahead of OPEC meeting

NEW YORK, July 20 (Xinhua) -- Oil prices settled lower on Thursday as investors awaited a meeting of worlds major oil producers in Russia next week. The West Texas Intermediate for August delivery lost 0.33 U.S. dollar to settle at 46.79 do......【more】

2017-07-24

Syrian army captures 15 oil and gas fields from IS in Raqqa

A picture taken on July 9, 2017 showsSyrias Arak gasfield, 35 kilometres (20 miles) northeast of the ancient city of Palmyra, in the central province of Homs, a few weeks after it was retaken by government forces from the hands of jihadists......【more】

2017-07-21

Current state of markets aiding India's plans to diversify oil imports

The current state of the global oil market characterized by low oil prices is helping India to diversify its supply sources, as evidenced by its recent purchase of US sour crude, senior Indian officials said Tuesday. In an oversupplied mark......【more】

2017-07-20

OPEC chief hopeful of oil stocks decline

Mohammed Barkindo, secretary-general of the Organization of the Petroleum Exporting Countries (OPEC), delivers a speech during a session of the 22nd World Petroleum Congress in Istanbul, Turkey, on July 12, 2017. Mohammed Barkindo, secretar......【more】

2017-07-19