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Oil Drops as Deeper OPEC Discounts Signal Fight for Market Share

2014-12-09 11:01:55| Energy - Topix.net

Brent and West Texas Intermediate fell to a five-year low as Iraq followed Saudi Arabia in cutting prices for crude sales to Asia, adding to signs that OPEC's biggest members are defending market share. Futures dropped as much as 1.4 percent in London to the weakest intraday price since September 2009.

Tags: share market oil fight

 

Oil Declines From 5-Year Low on Signs U.S. Taking Fight to OPEC

2014-12-08 05:05:35| Oil & Gas - Topix.net

West Texas Intermediate and Brent crude extended declines from the lowest close in more than five years amid speculation that U.S. oil producers will fight OPEC for market share. Futures dropped as much as 1.8 percent in New York and 1.9 percent in London.

Tags: to low taking oil

 
 

Oil Rigs in U.S. Climb as Shale Drillers Face OPEC Challenge

2014-12-06 18:29:00| Oil & Gas - Topix.net

The nation's crude explorers, engaged in a pricing war with the world's largest suppliers, defied predictions of a drilling slowdown and ran the most rigs since mid-November, boosting the U.S. count by three to 1,575, Baker Hughes Inc. said yesterday. Rigs targeting natural gas were unchanged at 344, the Houston- based field services company's website showed.

Tags: face oil challenge climb

 

Mideast Stocks-Gulf mkts bleed after Opec lets oil slide; Egypt steady

2014-11-30 17:31:11| Chemicals - Topix.net

Gulf stock markets plunged to milestone lows in a panic sell-off on Sunday after OPEC's decision to keep crude output unchanged sent oil prices tumbling. The price of Brent crude fell about 10 percent to $70.15 per barrel since regional equity markets had last traded on Thursday and Sunday's opening was grim for long-only regional investors.

Tags: oil slide egypt steady

 

Oil prices, stock plummet day after OPEC meeting

2014-11-30 02:36:44| Oil & Gas - Topix.net

A decision by OPEC to not cut oil production has pushed oil prices down and brought home the realization that the decline since July is likely to not abate soon. Above, an oil well was recently photographed being drilled near Williston, N.D. A day after OPEC opted not to cut oil production despite a weakening global market, prices plummeted to their lowest level since 2010.

Tags: day stock prices meeting

 

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