oil barrel

Iran says $55 oil price suitable, sees supply cut extension

Iran sees $55 per barrel as a suitable price for crude oil, and believes that OPEC and non-OPEC producers are likely to extend output curbs to support prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Saturday. “The price range of $55 per barrel would be suitable for oil,” Zanganeh said, according to […]

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Oil recovers some ground after big losses last week

Oil prices recovered some lost ground on Monday after big losses last week, driven by expectations that OPEC will extend output cuts till the end of 2017, although a relentless rise in U.S. drilling capped gains. Brent crude futures rose 54 cents by 0920 GMT to $52.50 per barrel. U.S. West Texas Intermediate (WTI) crude […]

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