OPEC chops global oil demand growth forecast over China virus
February 13, 2020 | 09:40
The OPEC oil cartel on Wednesday (Feb 12) lowered its forecast for growth in global oil demand this year by nearly a fifth due to the impact of the coronavirus outbreak in China.
Novel coronavirus highlights OPEC reliance on Chinese oil demand
February 06, 2020 | 11:43
Fears of an economic slowdown, fuelled by the novel coronavirus slashing output in China, has shone the spotlight on OPEC, whose oil is heavily bought by the world's second-biggest economy.
Oil market chilled by virus impact on China growth
February 01, 2020 | 09:18
Oil prices have fallen victim to economic worries sparked by a deadly virus spreading from China, the world's second-biggest economy and a huge consumer of crude.
Business wary of 2020 oil projections
January 16, 2020 | 09:00
While global oil supplies in 2019 were vulnerable, the fluctuations have not affected long-term petrol prices, yet business plans for some in the market in 2020 remain complicated.
Iraq warns of 'collapse' if Trump blocks oil cash account at the Fed
January 14, 2020 | 08:49
Iraqi officials fear economic "collapse" if Washington imposes threatened sanctions, including blocking access to a US-based account where Baghdad keeps oil revenues that feed 90 per cent of the national budget.
Oil spikes after Iran attacks US forces
January 08, 2020 | 12:41
The price of oil spiked Wednesday (Jan 8) after Iran launched revenge attacks on US forces in Iraq, making good on its pledge to hit back over the killing of its top general.
OPEC agrees oil output cuts after much 'brain squeezing'
December 07, 2019 | 09:42
The powerful OPEC group of oil producers and its allies reached a deal on Friday (Dec 6) to cut production by 500,000 barrels per day in a bid to stem prices which have been under pressure from abundant reserves and weak global economic growth.
SOCAR Trading becomes crude oil supplier of Dung Quat refinery
December 03, 2019 | 15:37
BSR decided to add Azeri crude oil to the list of strategic materials in 2020 and upcoming years.
Brazil oil auction raises disappointing US$17 billion: Official
November 07, 2019 | 10:13
Brazil's auction of drilling rights to four deep-sea oil fields raised a disappointing US$17 billion on Wednesday (Nov 6), officials said, well short of expectations for the highly-anticipated mega sale.
Oil hits five-week high in world while gasoline drops in Vietnam
June 26, 2019 | 10:00
Oil jumped to a five-week high on the back of tensions between the US and Iran as well as the trade war, while the domestic price of gasoline is falling.
Oil producers meet to discuss output amid Iran tension
May 20, 2019 | 13:51
Major crude producers are set to meet Sunday (May 19) to discuss how to stabilise a volatile oil market amid rising US-Iran tensions in the Gulf, which threaten to disrupt supply.
Oil market likely to rebalance early 2019: OPEC ministers
December 24, 2018 | 10:10
Oil ministers from leading OPEC nations said Sunday (Dec 23) they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect.
South Van Phong oil refinery to roll with the wind?
September 27, 2018 | 09:08
Petrolimex’s proposal to withdraw from South Van Phong oil refinery opens opportunities for other investors or spells doom for the oil refinery.
Nghi Son refinery starts commercial operation in November 1
September 10, 2018 | 14:24
Nghi Son Petrochemical Refinery may come into commercial operation on November 15 this year, after more than four years of construction.
Diverging outcomes anticipated among listed petroleum firms
August 27, 2018 | 09:25
Amid positive fundaments in the second half, listed petroleum firms are looking at dissimilar prospects depending on their specific fields of operations.
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