Oil Prices Rise Amid Lower US Stockpiles, Rising Global Tensions

International oil prices are posting steady increases due to higher energy consumption in the US, Saudi Arabia's continued commitment to production cuts and rising global political uncertainty.

Russia ready to join OPEC's new output freeze deal

Russian Energy Minister Alexander Novak on Wednesday welcomed the OPEC's newly-clinched oil output freeze agreement, saying that Russia was ready to join the deal to stabilize global oil market.

Russian Energy Minister sees no reasons for oil production freeze at current price

No reasons are in place to contract or freeze oil production at its current price, Russian Energy Minister Alexander Novak on Friday in an interview at the St. Petersburg International Economic Forum (SPIEF).

Oil prices drop below $30 as global markets slide

Oil prices have fallen below $30 a barrel, a new 12-year low, amid renewed concerns of slow growth in China - the world's second largest economy.

Oil Prices Drop Over China Weak Economic Outlook Not Middle-Eastern Crises

Global oil prices are sliding downward primarily due to a weak economic outlook in key commodity consuming countries, such as China, whereas the mounting political tensions in the Middle East are unlikely to boost the demand, experts told Sputnik Wednesday.

Oil price down again on oversupply concerns

Oil prices have been volatile again, hit by continuing oversupply, the strong dollar and weak global demand.

Oil prices dipped Friday in a market burdened by a persistent oversupply of crude.

At about 1300 GMT, US benchmark West Texas Intermediate (WTI) for delivery in December was trading down 37 cents at $40.17 a barrel.

Asia to Become World Leader in Gas Demand by 2030, Outstrip US

Asian countries’ consumption of natural gas will overtake that of the United States by 2030, making Asia the world leader in the sphere, the International Energy Agency (IEA) said in its latest annual World Energy Outlook report.

Energy demand will rise 50 pct by 2030, UN official says

More fertile lands will be needed as the global demand for food, water and energy will increase with population growth, a senior official of the UN Convention to Combat Desertification has said.