The recent slide in global oil prices is a benefit for the world economy and could lead to some upgrades of economic forecasts, Bank of Japan Governor Haruhiko Kuroda said on Monday.
Tags: Oil
Subsidy cuts in India's budget may disappoint investors
India may slash its food and fuel subsidy bill by about $8 billion in next week's budget, two sources said, but despite the impressive headline, the cut is not as radical as free market champions had hoped for in Prime Minister Narendra Modi's first full budget.
Oil edges up as U.S. rig count likely to fall further
Oil markets edged up on Friday to halt a two-day drop, helped by expectations that data later in the day would show a continuing decline in the U.S. oil rig count, a clear sign of the pressure the tumble in crude has put on oil producers.
Oil falls below $62 as analysts doubt recent rally
Oil dropped below $62 a barrel on Wednesday, failing to build on gains of more than 1 percent in the previous session as analysts said a recent rally in prices was overblown.
Oil rises to $62, near 2015 high as Mideast risks support
Oil rose to $62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in U.S. output.
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Commodity price-dependent currencies such as the Australian dollar and Norwegian crown were the main movers on major foreign exchange markets on Tuesday, gaining up to a third of a percent on talk of more economic stimulus in China.
Oil’s dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements (BIS) said on Saturday.
Oil rallied again on Friday, with benchmark Brent crude having its largest two-week gain in 17 years, as falling oil rig counts and violence in producer Libya helped further stall a selloff that began in June.
Asian shares edged higher in early trade on Friday and oil prices continued to rebound, even as investors remained wary ahead of the key U.S. nonfarm payrolls report for January later in the session.
Oil rose toward $55 a barrel on Thursday, recovering from part of the previous session's slide after China took steps to pour liquidity into the world's second-biggest economy, although traders and analysts said oil's outlook looked weak.
The U.S. dollar steadied on Wednesday after its worst day in more than a year, and a retreat in oil prices after four days of gains halted a rally in European stock markets.
Iran is sweetening the terms it offers on oil development contracts to draw the interest of foreign investors deterred by sanctions and low crude prices, as its pragmatic president seeks to deliver on his promise of economic recovery.
A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices.
Chevron Corp (CVX.N), the second-largest U.S. oil producer, reported a higher-than-expected quarterly profit on Friday as sales of chemicals, lubricants and other refined products helped offset plunging crude prices CLc1.
