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OPEC+ maintains caution on output despite market recovery

Benoît Pelegrin, Agence France-Presse
Updated as of Mar 05 09:05 AM

The OPEC group of oil producers and its allies decided after talks on Thursday to allow only a slight rise in crude output despite a recovery in prices, amounting to less than a third of the output boost market observers had predicted. Read more »

Oil industry placing risky bet on plastics: report

Kelly Macnamara, Agence France-Presse
Posted at Sep 04 09:11 AM

Big oil producers are pinning their future growth on the world's insatiable appetite for plastic, researchers said Friday, in a "bet" on society's failure to tackle disposable consumption that risks stranding billions of dollars in petrochemical investments. Read more »

Crude crash brings down Singapore oil tycoon

Martin Abbugao, Agence France-Presse
Posted at May 01 02:56 PM

Singapore tycoon O.K. Lim built up his oil empire from a single-truck outfit through hard work and high-risk gambles, a rags-to-riches tale that made him a legend among crude traders. Read more »

Oil plunges again as virus ravages energy markets

Agence France-Presse
Posted at Apr 22 02:19 PM

Brent dropped 12.31 percent to $16.98 a barrel, extending heavy losses from a day earlier.  Read more »

Philippines to gain from world oil price plunge: NEDA chief Chua

ABS-CBN News
Posted at Apr 21 05:10 PM

The country "will not suffer" from crashing prices of oil since it doens't export the commodity, Chua said in his first briefing as the National Economic Development Authority (NEDA) chief.   Read more »

US oil bounces after crash but Asia stocks suffer big losses

Agence France-Presse
Posted at Apr 21 11:45 AM

US crude prices bounced back into positive territory Tuesday, a day after crashing below $0.00 for the first time owing to crippled demand and a storage glut, while the commodity rout sent Asian equities sharply lower. Read more »

Oil storage buckles as virus saps demand

Benoît Pelegrin, Agence France-Presse
Posted at Mar 27 01:04 PM

Global oil storage capacity is under intense pressure because of booming output from Saudi Arabia and the United States while the coronavirus outbreak slams the world economy and crude demand. Read more »

Oil crash piles pressure on virus-hit Saudi economy

Anuj Chopra, Agence France-Presse
Posted at Mar 18 01:53 PM

Huge losses are expected after the Arab world's biggest economy shut down cinemas, malls and restaurants, halted flights, suspended the year-round umrah pilgrimage and locked down eastern Qatif region -- home to around 500,000 -- in a bid to contain the deadly virus. Read more »

Oil crashes after Saudi Arabia launches price war

Agence France-Presse
Updated as of Mar 09 10:32 AM

The two main contracts were both down about 20 percent in morning Asian trade, with West Texas Intermediate sliding to around $32 a barrel and Brent crude to some $36 a barrel. Read more »

OPEC divided on how to combat coronavirus fallout

Benoît Pelegrin, Agence France-Presse
Posted at Mar 05 11:30 AM

The group already had to contend with abundant supply on global markets weighing on prices but the spread of COVID-19 across the world has sent them plunging.   Read more »

Oil, equities hit by fears over economic impact of deadly virus

Agence France-Presse
Posted at Jan 27 12:40 PM

The economic shock to China and the world -- just as a growth slowdown appeared to be easing -- could be massive, according to one analyst. Read more »

Oil price spike seen 'secondary' to inflation data in BSP rate-setting meeting

ABS-CBN News
Posted at Sep 18 02:41 PM

The most important piece of information for policy decision is the forecasted inflation rate in September, BSP Governor Benjamin Diokno told ABS-CBN News. Read more »

Gov’t seeks to preempt effects of weather disturbances on inflation

ABS-CBN News
Posted at Jul 05 06:52 PM

MANILA – The National Economic and Development Authority (NEDA) on Friday said the government would continue to implement “preemptive measures” to mitigate effects of weather disturbances on inflation. Read more »

OPEC squeezes oil output to 4-year low, Russia compliance low

Agence France-Presse
Posted at Feb 13 06:11 PM

The Paris-based organisation said that OPEC crude output dropped by 0.93 million barrels per day (mbd) to 30.83 mbd in January. Read more »

Oil market likely to rebalance early 2019: OPEC ministers

Agence France-Presse
Posted at Dec 24 08:02 AM

Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year, when a deal on new production cuts takes effect. Read more »