• Saudi Arabia names Khalid al-Falih energy minister to replace Naimi

    Saudi Arabia, the world’s largest crude oil exporter, on Saturday appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the post since 1995. The change is unlikely to mean a shift in Saudi oil policy, which is...

  • Oil rises as IEA expects biggest non-OPEC output fall in 25 years

    Crude prices rose on Thursday, reversing earlier declines, as the International Energy Agency (IEA) said that 2016 would see the biggest fall in non-OPEC production in a generation, helping rebalance a market that has been dogged by oversupply. The IEA’s chief Fatih Birol said on Thursday...

  • Oil prices rise to highest level in 5 months

    Sentiments about an emerging balance in energy markets Friday helped add positive pressure to the continuing rebound in crude oil prices. Crude oil prices are at their highest levels in roughly 5 months despite some market fundamentals showing a tilt toward the supply side. Data this week from the...

  • Russia easing control over oil companies

    There may be buyers already in place to help privatize some of the largest oil companies in Russia, the country’s first deputy prime minister said. The Kremlin has been reviewing privatization options as the Russian economy risks lingering in recession because of the strains brought on by...

  • Some BG Group offices to close

    Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. British energy company BG Group became a unit within the corporate structure of Royal Dutch Shell in early February. The $7 billion tie-up was...

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News

  • Saudi Arabia names Khalid al-Falih energy minister...

    Saudi Arabia, the world’s largest...

  • Oil rises as IEA expects biggest non-OPEC output f...

    Crude prices rose on Thursday,...

  • Oil prices rise to highest level in 5 months

    Sentiments about an emerging balance in...

  • Many OPEC countries ...

    Many OPEC countries have some of the world’s lowest production costs, which is a benefit in a low...

    Abdalla Salem EL BADRI - Secretary General - OPEC
  • Christine Lagarde Ma...

    Christine Lagarde Managing Director of IMF: IMF calls Arabian Gulf countries to impose taxes to...

    Christine Lagarde Managing Director of IMF

Articles

Oil Prices of Today

Crudes $/B
Brent 45.37
WTI 48.31
OPEC Basket 49.28

Primary Energy Sources (%)

2014
(Share)
2035
(Share)
Primary Energy 100% 100%
Oil 32% 29%
Gas 24% 26%
Coal 30% 25%
Nuclear 4% 5%
Hydro 7% 7%
Renewables* 3% 9%