Pressure mounts on oil producers ahead of meeting in Doha on Sunday April 14, 2016 The stage has been set for what will be the first coordinated action among Opec and non-Opec producers in 15 years – and failure to deliver could spark ire among already harangued oil investors. Talk of a potential freeze deal at the meeting in Doha on Sunday has helped oil prices recover from near 12-year [...]
Coffee has been officially declassified as a cancer-causing substance by a World Health Organization-affiliated body June 15, 2016 Coffee lovers can rejoice today after a World Health Organization and United Nations-affiliated body declared there is not enough proof to link it to cancer. The International Agency for Research on Cancer (IARC), concluded coffee can no longer be classified as a potential carcinogen and that there may be evidence that drinking it could actually lower [...]
Opec is predicting lower demand for oil in 2016, resulting in an increase in excess supply in the market March 14, 2016 Global demand for oil is expected to be less than previously thought in 2016, according to the Organization of the Petroleum Exporting Countries (Opec). Opec has put demand for crude at an average of 31.52m barrels per day in 2016, down 90,000 from last month's forecast. In its latest month report Opec has also predicted that supply from non-Opec [...]
Iran’s nuclear deal: Everyone from Bashar al-Assad and Vladimir Putin to Barack Obama and David Cameron has welcomed the agreement July 14, 2015 It's not often world leaders from the UK and US agree with those from Russia and Syria, but today is one of those rare moments. David Cameron, Barack Obama, Vladimir Putin and Bashar al-Assad have all welcomed the historic nuclear deal inked between the world's leading powers and Iran today. This morning the [...]
Russian oil boss Sechin declares Opec effectively extinct May 10, 2016 The head of Russia's biggest oil firm declared the Organisation of Petroleum Exporting Countries (Opec) effectively extinct. Igor Sechin, a close ally of Russian president Vladimir Putin, told Reuters that internal strife is killing the cartel and its ability to steer the oil market has all but evaporated. Read more: Oil and gas execs flag Opec policy as biggest [...]
Oil prices drop as nuclear deal with Iran looms July 13, 2015 Oil prices were stuck below $60 yesterday and with an Iranian nuclear deal in the offing could fall further again in the near future. Talks between Iran and Western powers were due to end last night, and officials said yesterday that a deal aimed at ending sanctions on the Middle Eastern country in return for [...]
Oil prices fall after Opec freeze deal is thrown into doubt April 1, 2016 Oil prices edged lower today, after comments from Saudi Arabia threw the widely anticipated freeze deal into doubt. Brent crude, the global benchmark, fell 4.2 per cent to $38.6 per barrel this afternoon. Meanwhile, West Texas Intermediate crude, the US benchmark, tumbled 3.9 per cent to $36.86 per barrel. Read more: How the oil price rout will affect [...]
Law firm CMS revenues break €1bn mark, although notes the potential for Brexit has caused some uncertainty in its UK market June 10, 2016 International law firm CMS revealed it had raced past a particular milestone today, brining in over €1bn in revenue, despite being slightly shaken by the possibility of a Brexit in its UK market. The figures Revenues for the firm increased to €1.01bn (£735.2m) in 2015, up 8.4 per cent on the prior year's €934.5m. Meanwhile, net profits had grown [...]
Brent crude and WTI: Oil climbs even higher amid rising optimism over freeze meeting April 12, 2016 Oil prices burst into life this afternoon, extending earlier gains after a report suggested Russia and Saudi Arabia have agreed to freeze output ahead of a widely anticipated meeting in Doha on Sunday. Russia's Interfax news agency quoted a diplomatic source in Doha saying the two countries had reached a consensus about an output freeze [...]
Oil prices ease off 2016 highs May 18, 2016 Oil prices eased off 2016 highs, as rising supplies softened concerns about production disruptions in Nigeria and Canada. Brent crude, the global benchmark, slumped 0.1 per cent to $49.2 per barrel today. Meanwhile, West Texas Intermediate crude, the US benchmark, was flat at $48.3. Read more: Shell latest oil major to be embroiled in row over exec pay [...]