Jun 05, 2015
The 12-member oil cartel OPEC will leave its production target unchanged at 30 million barrels per day. According to Bloomberg, Saudi Arabia's oil minister Ali al-Naimi confirmed the report that markets were already expecting. OPEC is holding its June meeting in Vienna on Friday. Following this news, crude oil prices were little changed, with West Texas Intermediate crude trading right around...
Proceed to the page: http://linkis.com/DUs4GDaily FX Report Oil futures rallied on Tuesday and U.S. crude approached 2015 highs on strong jobs data and government forecasts for lower U.S. crude production growth and higher global demand for oil. U.S. May crude rose $1.84 to settle at $53.98 a barrel after dropping to $51.17. The $54.13 peak...
Passenger-train drivers in Germany went on strike, joining freight-train drivers who walked out on Monday. The stoppage is due to last until Sunday; the drivers’ union says it will be the longest ever suffered by the national rail operator. It is the eighth in a ten-month dispute: the union wants...
The oil industry has axed 120,000 jobs worldwide during a nine-month slide in crude prices, with the sharpest payroll and spending cuts occurring in the United States, according to recruiting firm Swift Worldwide Resources. Oil producers have sent more than 900 U.S. drilling rigs to the sidelines...
Saudi Arabia's oil minister Ali al-Naimi said the 12-member group had agreed to maintain their production target at 30 million barrels per day (bpd).
Opec's member states decided at their crunch meeting in Vienna today to maintain the status quo — its old production cap of 30 million barrels a day —and allow the market decide oil prices. The decision, which is seen as a result of Saudi Arabian pressure, has negative implications for poorer...
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