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16 Mar 2015

Oil price recovery not backed by fundamentals: OPEC

A recovery in oil prices which began last month is not justified by fundamentals as there remains a supply glut in the market, oil cartel OPEC said Monday in its monthly report.

07 Jan 2015

Brent oil drops under $50 per barrel for first time since 2009

European benchmark Brent oil sank under USD 50 per barrel on Wednesday for the first time since 2009, hit by OPEC`s production stance, oversupply, weak demand and the strong dollar.

07 Jan 2015

Brent crude falls below $50 per barrel, lowest since May 2009

Oil prices hit fresh five-and-a-half-year lows on Wednesday as global business growth slowed to its weakest level in a year and analysts said a building supply glut meant that more falls were likely before a rebound.

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