Algeria says OPEC cut extension to ease oil glut by year-end

By Ahmad Ghaddar VIENNA, May 24 : Algeria’s energy minister said on Wednesday he expects OPEC to extend oil output cuts by nine months, helping to ease a global glut of crude by the end of 2017 and possibly raise oil prices to more than $55 a barrel. The Organization of the Petroleum Exporting Countries […]

Oil rises on expectation of extended, possibly deepened output cut

By Henning Gloystein SINGAPORE, May 22 : Oil prices rose on Monday, supported by reports that an OPEC-led supply cut would not only be extended into next year but might also be deepened in order to tightening the market and prop up prices. Brent crude futures were up 25 cents, or 0.5 percent, from their […]

Swiss to vote on law to help renewables, ban new nuclear power plants

By John Miller and Rupert Pretterklieber ZURICH, May 17 : Swiss voters will on Sunday determine the fate of a law proposing billions of dollars in subsidies for renewable energy, a ban on new nuclear plants and a partial utilities bailout. Polling so far suggests the law will be approved in the binding referendum, but […]

Iran likely to back longer OPEC-led oil cut if all on board -sources

By Alex Lawler and Rania El Gamal LONDON/DUBAI, May 16 : A proposal to extend an OPEC and non-OPEC supply cut for nine months is a postive idea, sources familiar with Iranian thinking said, suggesting OPEC’s third-largest producer is likely to go along with such a plan if there is a consensus. Saudi Arabia and […]