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US strategic oil reserves at 37-year low

US strategic oil stockpiles fell last week by 4.6 million barrels, falling to the lowest level since May 1985, according to the Energy Department. Specifically, in the week ending July 29, the amount of crude in the...

Oil plunges 4% amid recessionary fears

Oil prices slide sharply, as weak manufacturing data from China and Japan in July fueled worries about demand, while scenarios for a deep recession in the eurozone are mounting. In particular, his contract Brent for October delivery...

ECB: Rising oil prices will reduce GDP growth by 0.8%

Eurozone GDP could contract by around 0.8% in the medium term due to oil price increases, the European Central Bank said. "This is a somewhat limited shock, which should be seen in the context of cumulative growth...

Libya: Oil production has returned to pre-blockade levels

Oil production in Libya reached 1.2 million barrels per day, the daily average before the mid-April to mid-July oil blockade that crippled the volatile north African country's economy, the oil ministry said on Sunday. Minister of...

Low Chinese PMI data pressures oil prices

Oil prices fell today as weak manufacturing data from China and Japan in July weighed on the outlook for demand as investors braced for a meeting this week of OPEC officials and other top producers for...