Nov 28, 2014

OPEC maintains oil output level, triggering price collapse

OPEC on Thursday decided against cutting the amount of oil it produces despite a glut in global supplies, triggering a fresh collapse in crude prices. The cartel pumping out one-third of the world’s oil opted to stick by its output target, even after prices ...

Oct 17, 2014

Oil market is proving mightier than OPEC

by John Kemp

The only sensible oil-pricing strategy for Saudi Arabia and OPEC — in light of U.S. shale output — is to focus on market share and allow prices to decline to the point at which they slow the growth in non-OPEC output and lessen the ...

Oct 17, 2014

Falling oil prices shaking up global economies

A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years. The global price of oil ...

Oct 14, 2014

Saudi Arabia's oil enigma

by John Kemp

Saudi Arabia is sometimes likened to a central bank managing the global oil market, adding or withdrawing supplies to control prices. But that vastly overstates the degree of influence, let alone control, that the kingdom exercises over the market.