Oil ticks higher from 5-month low after Russia hints at deepening OPEC+ cuts
1 year ago

Oil ticks higher from 5-month low after Russia hints at deepening OPEC+ cuts

Live Mint  

Oil prices ticked higher after falling to five-month lows on Tuesday, December 5, after Russia said that the Organisation of Petroleum Exporting Countries and its allies was ready to deepen output cuts in the first quarter of next year. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last trading lower by 0.13 per cent at ₹6,149 per bbl, having swung between ₹6,044 and ₹6,193 per bbl during the session so far, against a previous close of ₹6,157 per barrel. -Elsewhere, the resumption of fighting in the Israel-Hamas war and attacks on three commercial vessels in the southern Red Sea stoked supply concerns and helped prop up oil prices, according to Reuters. Furthermore, crude oil prices faced downward pressure due to disappointing output cuts from OPEC+ nations.

History of this topic

Oil prices ease on surplus concerns, dollar strength
1 day, 23 hours ago
Oil climbs as Assad's fall brings more uncertainty to Middle East
2 weeks, 1 day ago
Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
2 weeks, 3 days ago
Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict
2 weeks, 4 days ago
Brent nears $93, US WTI ticks higher after OPEC+ pushes back output hike, extends cuts through 2026
2 weeks, 5 days ago
Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
2 weeks, 6 days ago
Oil ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl
3 weeks ago
Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops
Trending News
3 weeks, 1 day ago
Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts
3 weeks, 3 days ago
Oil settles down as ease of supply risks drives weekly loss
3 weeks, 4 days ago
Oil Little Changed in Thin Trading After OPEC Delays Meeting
Trending News
3 weeks, 5 days ago
Oil rises after investors weigh escalation of Russia-Ukraine war amid rise in US crude stock; Brent at $73
1 month ago
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, 1 week ago
Oil Holds Near November Lows as Traders Brace for Crude Glut
1 month, 1 week ago
Oil falls on Chinese stimulus disappointment, supply outlook
1 month, 1 week ago
Oil gains 1% in five days on US elections, Fed rate cut; Brent sits 2% lower to $73 dragged by subdued China stimulus
1 month, 2 weeks ago
Wall Street today: US stock indices rise slightly after hitting record highs, spotlight on Fed interest rate decision
1 month, 2 weeks ago
Oil rises as investors take stock of Trump victory, US crude stocks rise
1 month, 2 weeks ago
Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74
1 month, 2 weeks ago
Oil prices edge up on Gulf of Mexico storm ahead of US election results
1 month, 2 weeks ago
Oil hits one-week high on weak dollar ahead of US election results; Brent nears $76/bbl, WTI extends five-day streak
1 month, 2 weeks ago
Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor
2 months ago
Oil Prices Soar as Middle East Tensions Escalate
2 months, 2 weeks ago
Saudi minister warns of $50 oil as OPEC+ members flout production curbs
2 months, 3 weeks ago
Oil Prices Slide as Supply Outshines Demand, but Libya's Output Remains a Factor
2 months, 3 weeks ago
Lebanon crisis: Oil prices climb on Middle East tensions
3 months ago
Investors turned more bearish on oil last week than ever
3 months, 1 week ago
Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
3 months, 2 weeks ago
Stock markets trade marginally lower, Sensex down by 60 points, Nifty at 25,266
3 months, 3 weeks ago
Rupee turns flat at 83.73 against U.S. dollar in early trade
4 months, 3 weeks ago
Rupee rises 1 paisa higher against U.S. dollar in early trade
4 months, 3 weeks ago
Oil stabilises as signs of economic slowdown clash with Fed rate cut hopes; brent crude at $85.09/bbl
5 months ago
Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl
5 months, 1 week ago
Oil prices decline over 1% on Chinese demand jitters
5 months, 1 week ago
Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel
5 months, 3 weeks ago
Oil touches seven-week high amid demand optimism, war concerns; brent crude at $85.53/bbl
6 months ago
Oil records longest losing streak in 5 months on hawkish US Fed policy, demand worries; Brent down 2% at $82/bbl
6 months, 4 weeks ago
Oil drops for fourth straight session as hawkish US Fed stance weakens demand outlook; Brent at $81/bbl
7 months ago
Crude oil extends decline despite geopolitical tensions; 4 key reasons weighing on prices
7 months ago
Oil set for weekly gain as demand signs, geopolitics seen as positives
7 months, 2 weeks ago
Oil set for weekly gain as demand signs, geopolitics seen as positives
7 months, 2 weeks ago
Oil rises on Saudi Arabia’s decision to hike prices, brent crude at $83.39/bbl
7 months, 2 weeks ago
Wall Street today: US stocks surge on rate cut hopes
7 months, 2 weeks ago
Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?
7 months, 3 weeks ago
OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge
8 months ago
Crude oil prices jump 4% on reports of Israel strikes on Iran; Brent crude above $90 a barrel
8 months ago
Oil prices decline as risk premium eases following Iran attack; brent crude at $89.64/bbl
8 months, 1 week ago
Oil prices subdued, energy security concerns escalate on West Asia tensions
8 months, 1 week ago
Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87
8 months, 3 weeks ago
Rupee declines by 20 paise to 83.33 against dollar in early trade
9 months ago

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