Oil prices hit 2018 low as global supplies rise
6 years, 1 month ago

Oil prices hit 2018 low as global supplies rise

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil prices have dropped to an almost one-year low as a global supply glut drags on the market. Prices have dropped after Saudi Arabia indicated that production has neared record levels, as energy minister Khalid Al-Falih said production had pushed past 10.7m barrels a day, while US crude stockpiles are also increasing. Support free-thinking journalism and attend Independent events "The fact that oil traders shrugged off expectations that Opec will start withholding supply in 2019 to rein in a glut reflects just how concerned oil traders are over the future outlook.” Hong Sungki, a commodities trader at Korea’s NH Investment & Securities, said: “Prices have taken a dive as Trump continues to put pressure on OPEC and Saudi Arabia to create a low-price environment, and that has coupled with increasing American stockpiles.

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History of this topic

Oil Dips in Thin Trading on Soft US Data, Natural Gas Outlook
2 weeks, 5 days ago

Oil Dips in Thin Trading on Soft US Data, Natural Gas Outlook

Live Mint  

Oil edged lower in light holiday trading on soft US jobs data and a retreat in natural gas futures. US natural gas futures fell by more than 5% Thursday, dragging down the energy complex after forecasts pointed to lower-than-anticipated heating demand. Helping to set a floor on prices, the American Petroleum Institute said commercial crude inventories fell 3.2 million barrels …

Oil prices up in thin pre-Christmas trade
Trending News
3 weeks, 1 day ago

Oil prices up in thin pre-Christmas trade

Live Mint  

By Katya Golubkova TOKYO, Dec 24 - Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer. In the shorter term, traders are looking for indications of U.S. demand from the crude oil and fuel stockpiles data …

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl
3 weeks, 4 days ago

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl

Live Mint  

International crude oil prices settled little changed in the previous session after markets weighed weak Chinese demand and fewer interest rate-cut expectations by the US Federal Reserve after recent prints of US inflation. -The US dollar retreated from a two-year high but was heading for a third consecutive week of gains after data showed cooling US inflation two days after …

Oil climbs as Assad's fall brings more uncertainty to Middle East
1 month ago

Oil climbs as Assad's fall brings more uncertainty to Middle East

The Hindu  

Oil prices climbed on Monday after the fall of Syrian President Bashar al-Assad's regime introduced greater uncertainty to the Middle East, although the gains were capped by a waning demand outlook for the coming year. "But Saudi Arabia's price reductions and OPEC+'s production cut extension last week underscored weak demand from China, indicating the market may soften toward year-end," he …

Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
1 month, 1 week ago

Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days

Live Mint  

International crude oil prices fell by more than one per cent in the previous session to report a weekly loss after analysts projected a supply surplus next year on weak demand despite the Organisation of Petroleum Exporting Countries and its allies 's recent decision to delay the oil output hikes till April 2025 and extend the deep production cuts to …

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
1 month, 1 week ago

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight

Live Mint  

-- Oil steadied after a decline, with traders looking ahead to an OPEC meeting on Thursday that’s expected to see the cartel again defer a move to revive output in an already well-supplied market. While commercial stockpiles shrank more than 5 million barrels for the biggest weekly drop since August, nationwide oil production hit a record in a reminder of …

Saudi Arabia is losing its iron grip on global oil markets
1 month, 1 week ago

Saudi Arabia is losing its iron grip on global oil markets

Live Mint  

Saudi Arabia’s sway over the Organization of the Petroleum Exporting Countries long meant unquestioned dominance of the global oil market. “They won’t be able to bring oil back online next year," said a Saudi official. “It’s really easy to be part of a cartel when a market is growing," said Jorge León, a Rystad Energy analyst who formerly worked for …

Oil ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl
1 month, 1 week ago

Oil ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl

Live Mint  

International crude oil prices rose more than 1.5 per cent on Tuesday, December 3, ahead of the output policy decision by the Organisation of Petroleum Exporting Countries and its allies meeting. Global benchmark Brent crude futures last rose $1.16, or 1.6 per cent, to $72.99 per barrel, while the US West Texas Intermediate crude was last up $1.16, or 1.7 …

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops
Trending News
1 month, 1 week ago

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops

Live Mint  

-- Oil was little changed as traders watched for clues on OPEC ’s supply plans ahead of a key meeting this Thursday. “Despite the ongoing cross-currents we’ve hit a fair value that looks sticky for the short-term” with Brent at current levels, said Chris Weston, head of research for Pepperstone Group. “For now, the oil market is happy to massage …

The Wrong Oil Price Is Truthfully a Problem for OPEC
1 month, 1 week ago

The Wrong Oil Price Is Truthfully a Problem for OPEC

Live Mint  

-- The best scandals are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC oil cartel has said publicly what many thought privately — the group has been keeping oil prices too high, effectively subsidizing its rivals. But weak oil prices had forced OPEC to delay the increases already …

Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts
1 month, 2 weeks ago

Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts

Live Mint  

International crude oil prices edged lower in the previous session to log a weekly decline of more than three per cent, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as the Organisation of Petroleum Exporting Countries and its allies is expected to extend output cuts. According to news …

Oil Little Changed in Thin Trading After OPEC Delays Meeting
Trending News
1 month, 2 weeks ago

Oil Little Changed in Thin Trading After OPEC Delays Meeting

Live Mint  

-- Oil was steady as traders watched for any further clues to OPEC ’s production plans after it delayed a key virtual meeting by four days. Prices have been buffeted by fluctuating geopolitical tensions in the Middle East, waning demand in top importer China and concerns whether President-elect Donald Trump’s upcoming policies could affect supply from Russia and Iran. “The …

OPEC Has Little Room to Revive Oil Supply, Iran Official Says
1 month, 2 weeks ago

OPEC Has Little Room to Revive Oil Supply, Iran Official Says

Live Mint  

-- OPEC has little scope to reverse its oil production cuts, which have triggered a wave of rival supply from the US shale industry, Iran’s representative to the group said. “This strategy in support of prices has effectively encouraged higher supply outside the group, particularly on the part of the US,” Iranian OPEC governor Afshin Javan said of the curbs …

Oil settles down on strong US supply, losses capped by Ukraine escalation
1 month, 3 weeks ago

Oil settles down on strong US supply, losses capped by Ukraine escalation

Live Mint  

By Georgina McCartney HOUSTON -Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine. Weak demand in the world's largest crude importer continued, with Chinese stimulus announcements failing to boost oil demand growth in …

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71
1 month, 4 weeks ago

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71

Live Mint  

International crude oil prices settled down more than two per cent in the previous session as investors fretted about weaker Chinese oil demand and a potential slowing in the pace of US Federal Reserve interest rate cuts after the latest macroeconomic data. Back home, crude oil futures settled 1.86 per cent lower at ₹5,660 per barrel on the multi commodity …

Oil Holds Near November Lows as Traders Brace for Crude Glut
2 months ago

Oil Holds Near November Lows as Traders Brace for Crude Glut

Live Mint  

-- Oil held near November lows, settling near $68 a barrel, as increasingly bearish fundamentals capped the session’s gain. In the physical market, a key supply gauge suggests a glut is coming sooner than expected, while timespreads in the futures market are flashing signs of oversupply. Also weighing on oil: OPEC cut its demand growth forecasts for a fourth consecutive …

Oil rises as investors take stock of Trump victory, US crude stocks rise
2 months, 1 week ago

Oil rises as investors take stock of Trump victory, US crude stocks rise

Live Mint  

By Georgina McCartney HOUSTON -Oil prices turned positive on Wednesday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration. Independent analyst Tina Teng said that besides a surging dollar weighing on commodity prices, a Trump presidency could see policies that may further pressure the Chinese economy, weakening oil …

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74
2 months, 1 week ago

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74

Live Mint  

Crude oil prices slid 2.5% on Wednesday, November 6, snapping a five-day winning streak, weighed down by a stronger US dollar as early reports suggested that Republican candidate Donald Trump is edging closer to securing a second term in the White House. Crude prices have experienced notable fluctuations in recent sessions, influenced by OPEC+'s decision to delay December production plans …

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again
2 months, 2 weeks ago

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again

Associated Press  

Oil prices are falling as the reality of weak global demand takes center stage again. The price of benchmark U.S. crude tumbled 6% Monday after a weekend retaliatory strike by Israel on Iran targeted military sites rather than the oilfields of the world's seventh largest producer of crude. This puts the price of a barrel of U.S. crude well under …

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East
2 months, 2 weeks ago

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Global oil prices are falling …

Oil Prices Soar as Middle East Tensions Escalate
3 months, 1 week ago

Oil Prices Soar as Middle East Tensions Escalate

The Hindu  

Oil prices extend upward march on Mideast tensions, with Brent North Sea crude reaching close to $80 per barrel on Monday. The rise is partly attributed to concerns about geopolitical unrest in the Middle East, but also to hopes of stronger Chinese demand after Beijing recently announced major stimulus measures to boost its flagging economy.

Saudi minister warns of $50 oil as OPEC+ members flout production curbs
3 months, 1 week ago

Saudi minister warns of $50 oil as OPEC+ members flout production curbs

Live Mint  

The Saudi oil minister has said that prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel. But geopolitical tensions have persisted for months without meaningful effect on oil prices, and the declines have been frustrating for Saudi officials in part because other …

Lebanon crisis: Oil prices climb on Middle East tensions
3 months, 3 weeks ago

Lebanon crisis: Oil prices climb on Middle East tensions

Hindustan Times  

Oil prices rose on Tuesday on news of monetary stimulus from top importer China and concerns that tensions in the Middle East could hit regional supply, while a major hurricane loomed over the United States, the world's biggest crude producer. The crude oil market has been looking desperately towards Chinese authorities for further easing measures to counter the economic slowdown," …

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary
4 months ago

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary

Live Mint  

Secretary at the Ministry of Petroleum and Natural Gas, Pankaj Jain, said on Thursday that oil companies will consider cutting fuel prices if crude oil remains low for an extended period. With the rise in fuel demand, India wants increased output from the Organisation of Petroleum Exporting Countries, its allies, and Russia, the Oil Secretary added. Global crude oil prices …

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
4 months ago

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook

Live Mint  

Oil rose from its lowest close since 2021 after a deep weekly loss pushed futures close to levels regarded as oversold, with the focus this week on three reports that may clarify the demand outlook. Traders are in line for bumper crop of market insights this week as the three most prominent forecasters — OPEC, the Energy Information Administration and …

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
5 months, 1 week ago

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi oil giant Aramco reported …

Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl
5 months, 4 weeks ago

Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl

Live Mint  

Crude oil prices climbed about one per cent on Wednesday, July 17, on a bigger-than-expected weekly drop in US crude stockpiles. Brent futures rose 96 cents, or 1.2 per cent, to $84.69 per barrel, while US West Texas Intermediate crude rose $1.36, or 1.7 per cent, to $82.12. Coming to domestic prices, crude oil futures last traded 1.95 per cent …

Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel
6 months, 2 weeks ago

Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel

Live Mint  

Oil prices rose on Monday, fuelled by increasing summer demand optimism and the supply cuts by the Organisation of the Petroleum Exporting Countries. On Monday, Brent crude futures rose 0.81 per cent or 69 cents to $85.69 per barrel as of 13:36. Both the commodity contracts increased nearly 6 per cent in June, with Brent settling around $85 per barrel …

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag
7 months, 1 week ago

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia and allied oil …

Oil producers led by Saudis extended supply cuts amid slack prices
7 months, 1 week ago

Oil producers led by Saudis extended supply cuts amid slack prices

Associated Press  

FRANKFURT, Germany — Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members of the producers cartel and allied countries including Russia, extended …

Opec cartel to extend cuts to oil output in bid to prop up prices
7 months, 1 week ago

Opec cartel to extend cuts to oil output in bid to prop up prices

The Telegraph  

Saudi Arabia and Russia have led members of the Opec cartel in extending deep production cuts to oil output into 2025, in a fresh bid to prop up prices in the face of US competition. The move will put upward pressure on oil prices, with Brent crude currently trading at around $81 per barrel, at a time when unexpectedly high …

Oil rises on Saudi Arabia’s decision to hike prices, brent crude at $83.39/bbl
8 months, 1 week ago

Oil rises on Saudi Arabia’s decision to hike prices, brent crude at $83.39/bbl

Live Mint  

Oil futures saw an increase on Monday following Saudi Arabia's decision to raise June crude prices for most regions. “Crude Oil prices are seen trading positive today after Saudi Arabia raised its official oil selling price for most regions, and on fading hopes of a ceasefire in the Israel-Hamas war, however, price gains look limited as supply from the middle-east …

OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge
8 months, 3 weeks ago

OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge

Live Mint  

Brent crude futures have surged 13.4% this year so far to $87.26 per barrel, propelled by escalating tensions in the Middle East, OPEC supply cuts, attacks on energy infrastructure between Ukraine and Russia, and increased oil demand from major consuming nations, all of which have tightened the market. Iran is the third largest producer in the Organization of the Petroleum …

Oil rises 16% YTD on Middle-East crisis: How will the fresh spike impact India and world markets—Explained
8 months, 3 weeks ago

Oil rises 16% YTD on Middle-East crisis: How will the fresh spike impact India and world markets—Explained

Live Mint  

Oil prices are up around 16 per cent so far this year near the $90 per barrel-mark, with supply worries high given escalating Middle East tensions between Iran and Israel and back-to-back attacks on energy infrastructure between Ukraine and Russia. {{^adFree}} {{/adFree}} The International Monetary Fund has described an "adverse scenario" in which an escalation of conflict in the Middle …

Saudi Arabia Needs Oil Price Near $100, IMF Says
8 months, 3 weeks ago

Saudi Arabia Needs Oil Price Near $100, IMF Says

Hindustan Times  

Saudi Arabia will need a higher oil price than previously thought this year as the OPEC leader spearheads the group’s production cuts, according to the International Monetary Fund. Saudi Arabia Needs Oil Price Near $100, IMF Says Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 …

Oil prices subdued, energy security concerns escalate on West Asia tensions
9 months ago

Oil prices subdued, energy security concerns escalate on West Asia tensions

Live Mint  

Global crude oil prices ticked lower on Monday as traders assessed the extent of damage and associated risks following Iran’s attack on Israel's military facilities. However, higher US crude oil stocks and strength in the dollar index limits gains of crude oil…If tensions further escalate in the Middle East, could certainly disturb global supply conditions and oil prices could boil …

OPEC sticks to oil demand view, cuts non-OPEC supply growth forecast
9 months ago

OPEC sticks to oil demand view, cuts non-OPEC supply growth forecast

Live Mint  

The Organization of the Petroleum Exporting Countries left its estimates for global oil-demand growth unchanged, but lowered its forecast for non-OPEC supply growth for this year and next. The group cut its non-OPEC supply growth forecast to 1 million barrels a day for 2024 from 1.1 million barrels a day previously, saying the main drivers of growth are expected to …

Three surprises that could inflame commodity markets in 2024
9 months, 1 week ago

Three surprises that could inflame commodity markets in 2024

Hindustan Times  

As Russia continues to pound Kyiv, Western sanctions are beginning to cripple Arctic LNG 2, the aggressor’s largest gas-export project. In Europe manic buying since the start of Russia’s war and a mild winter have helped keep gas-storage levels at around 90% of capacity, well above the five-year average. Naval tit-for-tats could jolt prices, though rising output from OPEC+, and …

Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87
9 months, 2 weeks ago

Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87

Live Mint  

International crude oil prices rebounded and rose by more than $1 per barrel on Thursday, March 28, after falling for two consecutive sessions ahead of the policy decision by the Organisation of Petroleum Exporting Countries. Brent crude futures for May were last up $1.21, or 1.4 per cent, at $87.30 per barrel, while the more actively traded June contract rose …

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl
9 months, 3 weeks ago

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl

Live Mint  

Oil prices declined on Thursday, March 21, pressured by weaker US gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous session, according …

Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl
10 months, 2 weeks ago

Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl

Live Mint  

Oil prices experienced a slight decline amid speculation that unexpectedly robust inflation figures might postpone reductions in high interest rates, which have been restraining global fuel demand growth. Brent crude futures saw a decrease of 20 cents, marking a 0.3% drop to $81.42 per barrel by 1415 GMT. This downward trend follows last week's losses, with Brent experiencing a decline …

Higher global oil supply set to satisfy demand increase, IEA says
11 months ago

Higher global oil supply set to satisfy demand increase, IEA says

Live Mint  

Global oil demand is expected to grow at a significantly weaker pace this year, while soaring output from the Americas will help boost supply despite output curbs from OPEC and its allies, the International Energy Agency said. On Wednesday, the Organization of the Petroleum Exporting Countries reiterated that it anticipates global oil-demand growth at 2.2 million barrels a day this …

Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81
11 months, 2 weeks ago

Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81

Live Mint  

Oil prices edged lower on Tuesday, January 30, extending a more than one per cent drop in the previous session on China's economic outlook, however the losses were kept in check by supply fears driven escalating tensions in the Middle East. Back home, on the Multi Commodity Exchange, crude oil futures due for a February 16 expiry, was last trading …

Saudi Arabia's oil giant Aramco says it will not increase maximum daily production on state orders
11 months, 2 weeks ago

Saudi Arabia's oil giant Aramco says it will not increase maximum daily production on state orders

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's oil giant Saudi …

Three surprises that could inflame commodity markets in 2024
1 year ago

Three surprises that could inflame commodity markets in 2024

Live Mint  

As Russia continues to pound Kyiv, Western sanctions are beginning to cripple Arctic LNG 2, the aggressor’s largest gas-export project. In Europe manic buying since the start of Russia’s war and a mild winter have helped keep gas-storage levels at around 90% of capacity, well above the five-year average. Naval tit-for-tats could jolt prices, though rising output from OPEC+, and …

Oil ticks higher from six-month low over concerns of weak economic outlook; Brent at $74/bbl
1 year, 1 month ago

Oil ticks higher from six-month low over concerns of weak economic outlook; Brent at $74/bbl

Live Mint  

In the previous session the market was spooked by data showing US output remains near record highs even though crude inventories declined. In the previous session the oil market was spooked by data showing US output remains near record highs even though crude inventories declined {{^adFree}} {{/adFree}} Brent crude futures were up 60 cents, or 0.8 per cent, at $74.90 …

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl
1 year, 1 month ago

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl

Live Mint  

Oil prices fell by 2.5 per cent on Wednesday, December 6, as a bigger-than-expected rise in US gasoline inventories worried markets about demand and outweighed a draw in crude stocks. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung …

Some OPEC+ members will cut the oil that they send to the world to try to boost prices
1 year, 1 month ago

Some OPEC+ members will cut the oil that they send to the world to try to boost prices

Associated Press  

LONDON — The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. But it’s bad news for OPEC+ countries whose oil income bolsters their economies and who have faced setbacks …

Oil price climbs as Saudi-led cartel agrees to cut production
1 year, 1 month ago

Oil price climbs as Saudi-led cartel agrees to cut production

The Telegraph  

The price of crude oil fell after a cartel of oil-producing nations led by Saudi Arabia surprised the market by issuing a statement that failed to include an expected pledge to cut production by another million barrels per day. The online gathering of producers aimed to prop up the declining price of oil and has ended with an agreement to …

Oil ticks higher ahead of OPEC+ policy decision; Brent at $82/bbl
1 year, 1 month ago

Oil ticks higher ahead of OPEC+ policy decision; Brent at $82/bbl

Live Mint  

Oil prices rose on Wednesday, November 29, as investors turned their attention to the output policy decision by the Organisation of Petroleum Exporting Countries and its allies, while supply disruption caused by a storm in the Black Sea combined with lower US inventories to drive buying. Back home, on the Multi Commodity Exchange, crude oil futures due for a December …

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