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Meeting on oil freeze unlikely
A meeting of oil producers to discuss a global pact on freezing production is unlikely to take place in Russia on March 20, inside sources say.
A meeting of oil producers to discuss a global pact on freezing production is unlikely to take place in Russia on March 20, inside sources say.
Even if Saudi Arabia wins its struggle with US shale producers over market share, it will face a new billion-barrel adversary.
Plunging oil prices have forced New Zealand Oil & Gas to shed workers, prune its board and will lead to the shutdown of an offshore field four years early.
New Zealand Oil & Gas widened its first-half loss as it wrote down the value of its Tui and Maari investments.
Global equity markets have received a boost from an upturn in crude oil as the market focused on a forthcoming meeting of major oil producers.
Saudi Arabia - Stung by falling oil prices, Saudi Arabia has cut spending and subsidies as part of harsh austerity measures that threaten the lavish welfare programs underpinning its stability.
The departing chief of Royal Dutch Shell's U.S. division says the failed quest to find crude in Arctic waters off Alaska is still a point of pride because it demonstrated the company's technical expertise.
'Liquid American Freedom' - the first US crude bound for overseas markets in 40- years has left the Gulf coast headed for France.
Petrol prices have been fluctuating over the last couple of months, but it is hard to say whether pump prices will keep falling.
The Saudis may go public, OPEC's in disarray, the U.S. is suddenly a global exporter, and shale drillers are seeking lifelines from investors as banks abandon them.
The sharp decline in oil prices is a simple case of economics 101, writes Brian Gaynor.
Prices slashed for a second time this week with another tipped for tomorrow.
US President Barack Obama is proposing a $10-a-barrel oil tax, phased in over five years, to pay for a variety of transportation initiatives.
The Bank of Japan's unexpected decision to add monetary stimulus further lowered expectations that Fed policy makers will raise interest rates again.
Crude oil prices have risen to their highest in three weeks on hopes for a pact among oil producers to cut output.
Equities on both side of the Atlantic moved lower with the price of oil, while US Treasuries and gold rose.
Energy guru says investors are poised to invest US$60 billion in fracking amid an Opec war of attrition.
Oil prices have hit record lows - and expect them to go lower.
New Zealand shares fell following oil-driven weakness in US and European markets, with Nuplex Industries and Sky Network Television while Air New Zealand rose.
What's the point of market turmoil if the best stuff doesn't actually fall very far?
Another plunge in the price of crude oil sent stocks sharply lower on Wednesday, bringing the market to its lowest level in nearly two years.
US stocks recovered much of an early plunge, but oil suffered its worst one-day drop in months.
There are two different flavors of "supply side" economics.
IMF has lowered its forecast of global economic growth over the next two years amid the deepening slowdown in emerging markets.