Tag: oil

Oil workers’ discontent a risk for Libyan output surge

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BENGHAZI/TRIPOLI/LONDON (Reuters) - Libya's oil output is at a five-year high and rare exploration deals with foreign majors are being won but worker dissent and ever-present armed groups risk a repeat of disruptions that have choked off other production surges since the 2011 civil war. Staff at state oil firm NOC

Oil climbs one percent on prospect of OPEC, Russia supply cut

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Oil prices rose by around 1 percent on Monday amid expectations that top exporter Saudi Arabia will push producer club OPEC as well as perhaps Russia to cut supply towards year-end. Front-month Brent crude oil futures <LCOc1> were at $67.41 per barrel at 0746 GMT, up 65 cents, or 1 percent,

Oil firms on supply cut talk; still set for sixth weekly loss

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Oil rose on Friday on hopes that supply cuts will be agreed at OPEC's meeting on Dec. 6, but failed to recoup recent losses on oversupply concerns that have shaved more than a fifth off the Brent crude benchmark since early October. Brent <LCOc1> was up 85 cents at $67.47 a

Oil struggles to find footing after 7 percent slide as outlook darkens

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Oil struggled to find its footing on Wednesday after plunging 7 percent the previous session, with surging supply and the spectre of faltering demand scaring off investors. U.S. West Texas Intermediate (WTI) crude oil futures were at $55.52 per barrel at 0732 GMT, down 17 cents, or 0.3 percent, from their

Oil falls after Trump urges OPEC not to cut supply

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Oil prices fell more than 1 percent on Tuesday, with benchmark Brent crude slipping below $70 per barrel and U.S. crude under $60, after U.S. President Donald Trump put pressure on OPEC not to cut supply to prop up the market. The U.S. dollar hovered near 16-month highs <.DXY>, making oil

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