An oil and gas field processing and drilling site in Ukraine. A new agreement to cut production has now gone into effect. Photograph: Vincent Mundy/Bloomberg

Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between Opec and non-Opec members to cut production will drain a globa(...)

Aidan Heavey, CEO of Tullow Oil: last year the company had slumped 60 per cent as crude prices sank. Photograph: Nick Bradhaw

Last year, investors fled Tullow Oil Plc as crude prices sank. This year, it’s the hottest stock in the European energy industry. Tullow has almost d(...)

“If Opec doesn’t implement the production cuts the oil price will probably retreat back toward the $45 a barrel level.”Photograph: Bloomberg

Oil traded near $50 a barrel with Opec’s secretary-general set to visit Baghdad on Tuesday for talks aimed at resolving a deal on output after Iraq sa(...)

Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers

Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month, an(...)

Oil has fluctuated after falling more than 20 per centinto a bear market and closing below $40 a barrel last week for the first time in almost four months.

Oil is heading for its biggest weekly advance since April amid speculation informal OPEC talks next month may lead to stabilization measures after pri(...)

A survey for Guardian/ICM showed the UK Leave campaign enjoying a six-point lead over the Remain side. Photograph: Chris J Ratcliffe/AFP/Getty Images

Irish shares have fallen the most in four months amid deepening investor concerns that the UK will leave the EU. Monday’s 2.3 per cent decline in th(...)

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,”(...)

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