Press TV- Iran has blamed a recent rise in US oil production for the plunge in global prices of crude oil. Irans Petroleum Minister Bijan Zanganeh told reporters on Wednesday that the US had increased its oil production by 900,000 barrels per day. This, he said, was way beyond what the Organization of the Petroleum Exporting Countries (OPEC) ...

Reuters- Oil prices fell one percent on Monday as signs of a strong recovery in U.S. oil drilling activity outweighed news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December. Global benchmark Brent crude prices LCOc1 were down 53 cents to $54.96 a barrel at 1026 GMT, while U.S. West Texas Intermediate (WTI) ...

Analysts have seen the first sign in twenty months of the oil market recovering. Prices are steadily going up, after the rout that wiped 70 percent off crudes value has calmed. "The US crude market seems to have passed the worst point and crude runs should start creeping higher taking pressure off inventory levels. The latest EIA data on US production ...

[caption id="attachment_154132" align="alignright" width="185"] Israeli Prime Minister Benjamin Netanyahu waves prior to his address to a joint meeting of Congress in the House Chamber on Capitol Hill in Washington, March 3, 2015.CREDIT: REUTERS/JONATHAN ERNST[/caption] (Reuters) - Oil rebounded on Tuesday as Israeli Prime Minister Benjamin ...

Brent crude prices, the benchmark for half the worlds oil, will weaken for a second year in 2014 as U.S. output expands and threats to Middle East and North African supply ease, the most-accurate forecasters said. Prices will average $105 a barrel in 2014, from $108.71 in 2013, according to the median of estimates from the seven analysts who most ...