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Added on the 01/12/2014 17:11:31 - Copyright : Reuters EN
Oil prices surge after raging wildfire hit Canada's oil sands region, cutting as much as one-third of the country's daily crude capacity.
An oil price surge after a breakdown in diplomatic ties between Saudi Arabia and Iran was short-lived due to weak economic data from some of Asia's largest economies. But as Grace Pascoe reports there are concerns the dispute could have an impact on the global economy.
China’s largest oil and gas producer PetroChina reported a massive 82 percent fall in first quarter profits due to lower global oil prices. Meg Teckman reports.
Oil major BP has reported lower profits and says it will cut spending on exploration because of the fall in oil prices. But as Hayley Platt reports a surprise contribution from its stake in Rosneft helped it beat forecasts.
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