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OPEC

Oil market ‘in complete turmoil’, negative prices could return
2 months ago

Oil market ‘in complete turmoil’, negative prices could return

Any lifting of isolation measures in response to the COVID-19 pandemic could be too late to save oil from a return to negative prices in the weeks ahead, as a …
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Oil price war ends with historic OPEC-plus deal to cut output
3 months ago

Oil price war ends with historic OPEC-plus deal to cut output

The world’s top oil producers have pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia.

After …
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ACCC slams petrol retailers for price-gouging
4 months ago

ACCC slams petrol retailers for price-gouging

Competition watchdog head Rod Sims has slammed fuel retailers for price-gouging Australians at the pump while global oil prices are crashing, telling Australians to “shun” profiteering businesses.

Global oil prices …
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Oil to Remain Critical Cog in Energy Mix: OPEC
8 months ago

Oil to Remain Critical Cog in Energy Mix: OPEC

OPEC, one of the top oil producing groups in the world, issued the 13th edition of its World Oil Outlook, which provides an in-depth review of how OPEC views the …
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Why petrol prices have soared to the highest level in FIVE months in time for the Easter school holidays
1 year ago

Why petrol prices have soared to the highest level in FIVE months in time for the Easter school holidays

Motorists are paying the highest petrol prices in five months in time for the Easter school holidays.

Average Australian unleaded prices have soared by 3.5 cents during the past week, …
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Flood of US oil tipped to keep lid on petrol prices
1 year ago

Flood of US oil tipped to keep lid on petrol prices

The International Energy Agency’s (IEA) latest global oil outlook, released on Monday night, predicts America’s oil and gas boom will see it become a net exporter by 2021 with profound …
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OPEC meeting expected to reverse the oil price plunge
2 years ago

OPEC meeting expected to reverse the oil price plunge

Experts are predicting an agreement to cut oil supply will be reached at next week’s OPEC meeting, which should help stabilise a market that has seen prices plummet in the last …
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Petrol prices nudge up as oil prices jump
2 years ago

Petrol prices nudge up as oil prices jump

Anyone who drives realises that petrol has become more expensive this year — a lot more expensive.

Figures from the Australian Institute of Petroleum, released by CommSec, show that average …
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Oil prices ease as Trump tweets warning at OPEC
2 years ago

Oil prices ease as Trump tweets warning at OPEC

Oil prices eased on Thursday, slowing an upward surge that had pushed the market toward four-year highs, after U.S. President Donald Trump called on OPEC to “get prices down now!”


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Oil prices may spike on a coming mismatch between supply and demand, an expert says
2 years ago

Oil prices may spike on a coming mismatch between supply and demand, an expert says

After cruising to four-year highs earlier this year, crude oil has hit the skids.

Since hitting $70 a …
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