SINGAPORE / Reuters Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning — the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude oil futures, ...

Bloomberg Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output. The Caspian Sea nation’s output has been rising over the past year as the giant Kashagan field ramps up production. That’s in spite of Kazakhstan’s pledge to pump 20,000 barrels a day less under the landmark deal agreed ...

NEW DELHI / Reuters Indian oil consumption in 2017 grew at its slowest in four years, according to government statistics, hit by the government’s demonetisation move and a tax increase that knocked the gain in fuel use back to a modest 2.3 percent. The low growth also coincided with another year of weak, albeit improving, new vehicle sales. Last year’s ...