Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.
Oil prices fell on Friday on worries that US rig counts would continue to rise and that returning Libyan and Nigerian exports would stoke a global supply glut.
Saudi Arabia's oil exports rose in June as the kingdom kept the market well supplied, pumping near record high levels of crude to feed rising both local and international demand.
Oil prices extended gains in Asia on Wednesday, tracking a recovery in equity markets as leaders look to temper fears over the effects of Britain's shock EU exit, while traders bet on measures to negate any turmoil.
Oil prices pushed higher Monday thanks to a softer dollar after last week's well-below-forecast US jobs report, but the gains were limited as producers increased their rig count as the commodity held around the key $50 level.
Oil prices rose on Thursday after data showing a weekly drawdown in US crude stockpiles helped crude markets recover from OPEC's decision not to set a ceiling for its production.
Oil futures slipped in Asian trade on Friday after hitting resistance at the $50 a barrel mark as investors worried higher prices could reactivate shuttered crude output, adding to global oversupply.
Oil advanced Wednesday, with New York prices reaching 2016 highs, as data revealed falls to US crude inventories owing to wildfires slashing production across the Canadian border.
Marking a major milestone in oil processing technology, a collaborative project by Qatar University(QU), University of Leeds, University of Nottingham and KeyTech Engineering Consultants...
World oil prices rebounded Monday as dealers eyed supportive US data and hopes that producers will agree to limit crude output at a crucial upcoming meeting in Doha.
Iran is exporting around 350,000 barrels of crude oil a day to India and hopes to increase this number, Oil Minister Bijan Zanganeh was quoted as saying ...
Qatar’s crude oil production increased to 692,000 bpd in February compared with 637,000 bpd in January, QNB has said in a new report.
