BP pays price for staying in Russia
Oil companies often have little choice about investing in difficult countries. Many other investors can afford to look elsewhere
Oil
Resources
Soaring demand and constrained supply has driven up the price of oil but a weakening global economy could reverse this trend
Oil price jumps $25 in a day
Crude oil prices jumped $25 a barrel – the largest one-day rise – as financial investors betting on falling oil prices were forced to cover their positions ahead of the expiry of the current benchmark futures contract
Surprise Opec cut draws IEA fire
Opec’s decision to cut oil supplies risks keeping prices of crude at very high levels, cutting short a fall from July’s record price, the International Energy Agency has warned
Alternative oil sources fall short
The oil market is not only facing reduced supplies from Opec, following the cartel’s decision to cut its output by about 500,000 barrels a day, but also lower non-Opec supplies than previously estimated
Crude prices fall below $100 mark
Prices for Brent close more than $4 down on the day as traders bet that Opec, the oil cartel, will keep production levels unchanged
Saudi minister casts doubt over Opec cut
Comments from Ali Naimi, Saudi Arabia’s powerful oil minister, suggesting the oil market is balanced have made it less likely the Opec oil cartel will formally decide to cut its output
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