Oil has rebounded after falling to the lowest in more than 12 years amid signs that a global glut will ease as US output declines

Oil halted gains after the biggest jump in almost two months as Iraq said it raised output to a record ahead of talks between the world’s largest prod(...)

  A shipment of Iranian oil is delivered to a   refinery in Spain: Iran wants to boost output by one million barrels a day this year after international sanctions on its oil industry were lifted in January. Photograph: Luke MacGregor/Bloomberg

Iran plans to boost crude output to four million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global(...)

Shrinking crude prices remain a challenge to Russian president Vladimir Putin.

Russia’s economy shrank for the first time in five months as declines in oil prices rippled through consumption and industrial output, highlighting th(...)

OPEC Secretary-General Abdullah al-Badri speaks during a news conference in New Delhi, India, December 15, 2015. Global crude oil prices at seven-year lows will not continue and could swing upwards in as little as a year, Badri said on Tuesday, as the low-price cycle leads to cuts in output from some producers. (Photograph: Adnan Abidi/Reuters)

Oil prices won’t be affected by US crude exports, according to OPEC’s top official. “The net effect of export of American oil on the market is zero,”(...)

China stocks closed up more than 2 per cent on Wednesday, boosted by a late afternoon rally which helped the stock market become the best performer among major global bourses this year. (Photograph: Aly Song/Reuters)

Oil headed for the biggest annual decline since the 2008 global financial crisis as US producers and the Organization of Petroleum Exporting Countries(...)

Oil has declined 45 per cent this year, poised for the biggest drop since 2008

Oil traded above $60 a barrel in London amid the highest volatility in more than three years as Saudi Arabia, the world’s largest crude exporter, is s(...)

Brent futures fell below $106 per barrel today as key forecasters trimmed their outlook for global oil demand growth. Photo: Reuters

Brent futures edged further below $106 per barrel today as key forecasters trimmed their outlook for global oil demand growth, while an invento(...)