Brent crude slipped 12 per cent this year and tumbled 44 per cent in the last 12 months. Photograph: Reuters.

Global demand for crude is growing while non-OPEC countries are producing less of it, helping to bring the supply and demand for oil back into equilib(...)

The gains have come as Russia’s military intervention in the Syrian conflict has added a new and uncertain dimension to tensions in the Middle East. Photograph: China Newsphoto/Reuters

Oil prices are on course for one of the biggest weekly gains in six years as rising geopolitical tensions and signs of slowing output brought buyers b(...)

Labourers work at a refinery in Jingmen, in central China’s Hubei province.

Oil prices fell on Friday after Goldman Sachs cut its crude forecasts, citing global over-supply and concerns over the health of the Chinese economy, (...)

Crude prices dropped about 50% over the past 12 months. Photograph: Getty Images

AP Moeller-Maersk’s oil unit cut $1 billion off its annual budget for capital expenditure after petroleum prices plunged. Maersk Oil plans long-(...)

The Shanghai International Automobile Industry Exhibition. Mercedes’s head of China operations said he was still positive about the country’s car market, ‘subject to some stabilisation of the stock market’. Photograph: Carlos Barria/Reuters

It has been a wearying few months for the world’s carmakers when it comes to the Chinese car market. Once touted as the cure-all saviour of the world’(...)

Venezuelan soldiers try to control the crowd queueing outside a supermarket while trying to buy staple items. An 80-year-old woman reportedly died in a scrum outside a state supermarket selling subsidised goods. Photograph: Carlos Garcia Rawlins/Reuters

An 80-year-old Venezuelan woman died, possibly from trampling, in a scrum outside a state supermarket selling subsidized goods, the opposition and med(...)

US oil prices headed for their eighth consecutive week of falls on Friday, the longest losing streak since 1986. Photo: Bloomberg

US oil prices headed for their eighth consecutive week of falls on Friday, the longest losing streak since 1986, after a sharp drop in Chinese manufac(...)

Oil prices are now around half their levels of a year ago

The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from Nort(...)

Saudi Arabia’s oil output had been 10.31 million barrels a day in April. Last month it reached 10.33 million barrels a day, according to numbers submitted by Riyadh to Opec

Saudi Arabia increased its oil production to a record level last month in an attempt to win back more customers and meet demand for its crude. Output (...)

Prices for crude oil, gasoline and diesel jumped more than 3 per cent on Tuesday as bullish investors made bets across the oil complex for another weekly fall in US stockpiles.  Photograph: Jin Lee/Bloomberg

Oil prices rose on Wednesday as US inventories were set to drop further and after the Energy Information Administration (EIA) raised its 2015 oil dem(...)