Oil at $65-70 risks encouraging more shale output: IEA

ABU DHABI - Fatih Birol, head of the International Energy Agency, said on Friday that while oil prices at $65 to $70 per barrel is good for oil producers now, there is a risk that such a level would encourage more oversupply from U.S. shale drillers.

Birol, speaking at an industry conference in Abu Dhabi, also said that there might be a further decline in production from OPEC member V

India to consider talks with Sri Lanka, Bangladesh to export sugar

By Mayank Bhardwaj

NEW DELHI - India will consider initiating preliminary talks with neighbouring Sri Lanka and Bangladesh to seek lower import duties for its sugar exports to prevent a glut next season, a top government official said.

In the current 2017/18 season sugar mills in India, the world's biggest consumer of the sweetener, is expected to produce just enough to

U.S. oil prices hit highest since mid-2015 on surprise output drop

By Henning Gloystein

SINGAPORE  - U.S. oil prices hit their highest since mid-2015 on the final trading day of the year as an unexpected fall in American output and a fall in commercial crude inventories stoked buying.

In international markets, Brent crude oil futures also rose, supported by ongoing supply cuts by top producers OPEC and Russia as well a

Poll - Supply discipline and demand to prop up oil prices in 2018

By Swati Verma

OPEC and Russia's efforts to curb oil output, combined with forecasts for strong global demand growth, are expected to keep crude prices close to $60 a barrel in 2018, a Reuters poll of analysts showed on Thursday.

The survey of 32 economists and analysts forecast Brent crude LCOc1 would average $59.88 a barrel in 2018, up from the $58.84 forecast in the p