Energy 5 Mar 2020 | 10:40 PM

Opec raises stakes with Russia, seeks biggest price cut in 12 years

VIENNA: OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.

Energy 16 Mar 2020 | 11:07 PM

Oil slumps below US$30 a barrel as coronavirus spreads, OPEC rancor remains elevated(Update)

NEW YORK: Oil prices fell below US$30 a barrel on Monday after the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.

Energy 2 Mar 2020 | 10:38 PM

Oil price up over 4% as hopes of OPEC cut, stimulus counter virus gloom

NEW YORK: Oil prices rose over 4% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak

Commodities 16 June 2020 | 10:49 PM

Indonesia pushes back target for palm oil fuel refinery to 2026

JAKARTA: Indonesia, the world's largest producer of palm oil, is pushing back by three years its target to produce fuel made entirely from palm oil, a government document showed on Tuesday

Energy 19 Mar 2020 | 10:43 PM

Oil reverses losses, posts largest one-day gain on record

NEW YORK: U.S. crude oil prices spiked by 25% on Thursday, the largest single-day gain on record, recouping some losses from three days of selling that drove the benchmark to near 20-year lows.

Energy 4 June 2020 | 10:50 PM

Oil price dips on uncertainty over producers' commitment to output cuts(Update)

SEOUL: Oil prices eased slightly on Friday as markets wait to see whether major producers will commit to an extension of record production cuts to support oil prices.