Brent crude rose above $50 a barrel for the first time in more than six months as a drop in US stockpiles accelerated a rebound from a 12-year low after global disruptions trimmed the market’s glut.

Brent crude rose above $50 a barrel for the first time in more than six months as a drop in US stockpiles accelerated a rebound from a 12-year low af(...)

More than 1 million barrels a day of Canadian output was taken off line by a wildfires that ravaged the region. Photograph: PA

Oil dropped for a fourth day as producers in Canada started the process of resuming operations after wildfires crimped output and as Iran continued to(...)

Crude prices have rebounded about 80 per cent from a 12-year low in January. Photograph: Reuters

OPEC’s strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers in(...)

Oil prices fell as concerns mount that a rally since January is fizzling out, while analysts forecast another rise to record levels for US crude stock(...)

Opec didn’t look like the group that American diplomat Henry Kissinger once described as able to blackmail national economies and whole industries.

Opec has abandoned all pretence of acting as a cartel. It’s now every member for itself. At a chaotic meeting Friday in Vienna that was expected to la(...)

Iran has said it will announce plans to expand output by 500,000 barrels a day

Oil pared its first weekly gain in a month as Libya sought to increase output and Russia ruled out military retaliation against Turkey for down(...)

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(...)

Oil extended gains near $50 a barrel amid speculation an increase in demand will ease a global glut.

Oil extended gains near $50 a barrel amid speculation an increase in demand will ease a global glut.Oil extended gains near $50 a barrel amid speculat(...)

An oil storage facility near Minsk, Ukraine.  The Organisation of Petroleum Exporting Countries pumped more than its 30 million-barrel daily quota for the 15th consecutive month in August.   Photograph: Vasily Fedosenko/Reuters

Oil is poised for the lowest quarterly average price since the start of 2009 as industry data showed US crude stockpiles increased and Opec’s second-l(...)

Oil has fluctuated the past three weeks as concerns over slowing demand in China fueled volatility in global markets. Photograph:  Nick Ansell/PA

Oil declined for a second day on speculation that Opec will fail to stabilise prices amid a global oversupply and concern that Chinese demand growth w(...)

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