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U.S. crude inventories unexpectedly rose by 3.7 million barrels in the week to Aug. 10, to 410.8 million barrels. (Shutterstock)

August 15th, 2018 - 08:20 GMT

Oil Prices Fall While U.S. Crude Inventories Rises

Oil prices fell on Wednesday after data from the American Petroleum Institute (API) showed increased U.S. crude inventories in the week to Aug 10.

Saudi Arabia, the de facto head of OPEC, has boasted of its lead position among member states cutting production. (Shutterstock)

March 15th, 2017 - 09:00 GMT

OPEC production cut: Is output creeping up?

Sources in OPEC said the group would reduce output to 32.5 million barrels per day from current production of 33.24 million bpd, according to Reuters. (File photo)

September 29th, 2016 - 06:13 GMT

OPEC reaches consensus on cutting output

Al Bawaba

January 12th, 2015 - 03:02 GMT

Saudi Arabia and UAE can last a while: why there isn't really an end in sight to the oil price plunge

The market was also supported by hopes that the United States Federal Reserve would step in with new stimulus measures to bolster the world's largest economy, traders said

June 17th, 2012 - 07:34 GMT

Crude oil prices rise after OPEC holds output target