The Bank of Korea (BOK), South Korea' s central bank, on Wednesday decided to lower its inflation target by one percentage point to 2 percent for the next three years, raising worry about a sharp decline in inflation target that may lead to troubles in achieving the goal amid volatile oil prices.
South Korea posted trade surplus for 46 months in a row due to faster fall in imports than exports amid low commodity prices, customs data showed Tuesday.
Iraqi Prime Minister Haider al-Abadi on Monday said that the Islamic State (IS) group smuggled most of its oil through Turkey.
Monday morning's broad-based gains failed to convert into a substantial win on the Australian market as further falls in oil dragged energy stocks down, causing the broader market to close flat.
OPEC on Friday did not set a new oil output ceiling, with major oil producers reluctant to cut the supply.
Turkish Prime Minister Ahmet Davutoglu said on Thursday that his country is doing all to control its border with Syria and to remove Islamic State (IS) elements from Syrian side of the border with coalition forces.
“The Belt and Road Initiative” (hereinafter the “B&R”) is now speeding up and stepping towards detailed implementation. It is learnt by journalist from the Economic Information Daily that, as the “highlight” of foreign cooperation, specialized planning on the energy sector has been drafted at the stage of seeking for public opinions and improvement. Based on current thought, oil and gas cooperation will focus on six key fields, including “four cooperative zones” and “six industrial regions”, to establish and improve the transaction center for oil and natural gas, open up new sea-and-rail transportation line, construct oil & gas mainline in Asia, create a series of first-class international oil & gas enterprises, and enhance energy equipment manufacturing and “going out” of energy service enterprises.
U.S. House passes bill to lift oil export ban, veto looming
Democratic presidential candidate Hillary Clinton Tuesday expressed her firm opposition to a controversial oil pipeline after keeping silence on the issue for months.
The recent discovery of the largest natural gas field in the Mediterranean Sea in the Egyptian offshore is expected to rescue Egypt from energy shortage and trouble, said experts here.
U.S. Democratic presidential front-runner Hillary Clinton on Tuesday distanced herself from President Barack Obama's fresh approval for offshore drilling in the Arctic.
Iraqi security forces on Thursday continued fighting Islamic State (IS) militants in different areas across the north central province of Salahudin, a provincial security source said.
As the energy industry in Canada is struggling to control the oil prices, experts and business insiders suggest emerging opportunities for investment, but they warn Chinese investors to hold their horses.
Fall in prices of oil and other commodities are likely to slow economic growth in Sub-Saharan Africa to 4 percent in 2015 from 4.5 percent in 2014, the World Bank forecast on Monday.
The economic ministers from the 10 nations of the Association of Southeast Asian Nations (ASEAN) on Sunday expressed confidence that the region's economy will grow 5.1 percent in 2015, above the 3.5 percent global growth projection.
Three more U.S. oilfield services companies, all based in the country's oil hub of Houston, on Thursday joined a list of energy firms in cutting jobs and capital spending due to plummeting crude prices.
Iran's Majlis (parliament) is discussing decreasing the share of oil revenues in the country's budget for the new Iranian calendar year March 21, 2015, media reported on Tuesday.
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