Brent inches 1% higher to $86/bbl as OPEC sticks to 2024 oil demand, IEA downgrades on macro concerns
1 year, 5 months ago

Brent inches 1% higher to $86/bbl as OPEC sticks to 2024 oil demand, IEA downgrades on macro concerns

Live Mint  

OPEC stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further demand gains in China. The Organisation of Petroleum Exporting Countries has stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected demand gains in China. -The IEA lowered its oil demand growth forecast for 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. OPEC sticks to 2024 oil demand forecast The world oil demand will rise by 2.25 million barrels per day in 2024, compared with growth of 2.44 million bpd in 2023, said OPEC in its monthly report.

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History of this topic

Oil prices rise for second consecutive week on expected tighter supply
1 week, 1 day ago

Oil prices rise for second consecutive week on expected tighter supply

Live Mint  

By Shariq Khan NEW YORK -Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC producer group raised expectations of tighter supply. On Thursday, the U.S. Treasury announced new Iran-related sanctions, which for the first time targeted an independent Chinese refiner among other …

IEA says trade tensions weigh on oil demand, warns of supply surplus
2 weeks, 3 days ago

IEA says trade tensions weigh on oil demand, warns of supply surplus

Live Mint  

The International Energy Agency said the macroeconomic conditions underpinning its oil-demand projections have worsened over the past month due to global trade tensions, and that it sees a bigger-than-anticipated supply surplus if OPEC+ raises output beyond April. But the agency’s projections remain substantially lower than OPEC’s, as the cartel currently expects demand to grow by 1.45 million barrels a day. …

Oil prices to remain around $70-75 per barrel, says Emkay
2 weeks, 4 days ago

Oil prices to remain around $70-75 per barrel, says Emkay

Live Mint  

Oil prices edged higher on Wednesday, supported by a weaker dollar, though concerns over a potential U.S. economic slowdown and the impact of global trade tariffs limited gains. OPEC+ Policy and U.S. Energy Strategy Impact Oil Prices Emkay highlighted that OPEC+ has decided to gradually ease its production cuts, with a planned withdrawal of 2.20 million barrels per day from …

Oil prices decline as investors continue to fret over tariff impact
Trending News
2 weeks, 6 days ago

Oil prices decline as investors continue to fret over tariff impact

Live Mint  

By Florence Tan SINGAPORE, March 10 - Oil prices fell on Monday as concern about the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC producers, cooled investor appetite for riskier assets. WTI declined for a seventh successive week, the longest losing streak since November 2023, while Brent was down …

Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook
Trending News
3 weeks, 3 days ago

Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook

Live Mint  

-- Oil plunged to the lowest in about six months as US President Donald Trump’s trade wars hammer the outlook for demand just as OPEC signals it’s ready to start opening the taps on supply. Trump’s trade measures are threatening to reduce global energy demand and redraw oil flows, though just how they will play out depends on their final …

Oil extends losing streak for third straight day on Trump tariffs, OPEC+ hike: Brent at six-month low, WTI drops 4%
Trending News
3 weeks, 3 days ago

Oil extends losing streak for third straight day on Trump tariffs, OPEC+ hike: Brent at six-month low, WTI drops 4%

Live Mint  

Oil prices declined for a third day on Wednesday after U.S. crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April, and U.S. President Donald Trump's tariffs on Canada, China and Mexico escalated trade tensions. U.S. crude stocks rose more than expected, while gasoline and distillate …

Oil to snap three-week losing streak as trade war fears ease
1 month, 2 weeks ago

Oil to snap three-week losing streak as trade war fears ease

Live Mint  

By Paul Carsten LONDON - Oil prices rose on Friday and were poised to end three weeks of decline, buoyed by rising fuel demand and expectations that U.S. plans for global reciprocal tariffs would not come into effect before April, providing more time to avoid a trade war. "Positive development on the trade front in light of U.S. tariff delays …

IEA slightly lifts oil demand outlook, says supply surplus narrowing
1 month, 2 weeks ago

IEA slightly lifts oil demand outlook, says supply surplus narrowing

Live Mint  

The International Energy Agency modestly raised its forecast for global oil-demand growth and said improved compliance with output quotas among members of the OPEC+ alliance is reducing a projected supply surplus in the market. The Paris-based organization now estimates global demand to grow by 1.1 million barrels a day this year from 1.05 million barrels a day previously, reaching a …

OPEC sticks to oil-demand view, flags US trade policy risks
1 month, 2 weeks ago

OPEC sticks to oil-demand view, flags US trade policy risks

Live Mint  

The Organization of the Petroleum Exporting Countries stuck to its oil-demand forecast after reaffirming plans to gradually hike output from April, but said U.S. President Trump’s trade policy is injecting a dose of uncertainty into markets. OPEC still expects demand to grow by 1.45 million barrels a day this year and 1.43 million barrels a day the next, with strong …

Oil snaps 4-week winning streak after Donald Trump plans to boost US crude output; Brent at $78, WTI sheds 4% in 5 days
2 months ago

Oil snaps 4-week winning streak after Donald Trump plans to boost US crude output; Brent at $78, WTI sheds 4% in 5 days

Live Mint  

Global crude oil prices settled slightly higher in the previous session but logged a weekly decline, snapping a four-week winning streak, after US President Donald Trump announced sweeping plans to boost domestic crude oil production in the US while demanding that the Organisation of Petroleum Exporting Countries move to lower crude oil prices. -US President Trump on Friday reiterated his …

OPEC sticks to oil-demand view
2 months, 2 weeks ago

OPEC sticks to oil-demand view

Live Mint  

OPEC’s overall forecast remains significantly more optimistic than others in the industry. The Vienna-based cartel still expects demand to grow by 1.45 million barrels a day this year and forecast growth of 1.43 million barrels a day the next, driven by transportation fuels. The group’s overall forecast remains significantly more optimistic than others in the industry, with the International Energy …

Pound slump means motorist pain at the petrol pump
2 months, 2 weeks ago

Pound slump means motorist pain at the petrol pump

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. Crude oil is the raw material for petrol and …

Oil prices down on US fuel stocks build, dollar strength
2 months, 3 weeks ago

Oil prices down on US fuel stocks build, dollar strength

Live Mint  

By Nicole Jao NEW YORK -Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains driven by tightening supplies from Russia and other OPEC members. Gasoline stocks rose by 6.3 million barrels last week to 237.7 million barrels, compared with analysts' expectations in a …

Oil rises from two-month highs on optimism ove
2 months, 3 weeks ago

Oil rises from two-month highs on optimism ove

Live Mint  

By Florence Tan SINGAPORE - Oil prices extended their gains on Friday after closing at their highest in more than two months in the previous session on hopes governments across the world may increase policy support to revive economic growth that would lift fuel demand. Factory activity in Asia, Europe and the U.S. ended 2024 on a soft note as …

Oil Climbs in Year’s First Session With US Stockpiles in Focus
Trending News
2 months, 3 weeks ago

Oil Climbs in Year’s First Session With US Stockpiles in Focus

Live Mint  

Oil began 2025 by rising to the highest level since November, boosted by a report of shrinking crude stockpiles in the US and bullish technical indicators. A report from the American Petroleum Institute showed inventories fell by 1.4 million barrels last week, a sixth straight draw if confirmed by government data later Thursday. It’s the fourth straight session of gains, …

Oil rises as investors return from holidays, eye China recovery
2 months, 4 weeks ago

Oil rises as investors return from holidays, eye China recovery

The Hindu  

Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Investors are also awaiting weekly U.S. oil stocks data from the Energy Information Administration that has been delayed until Thursday due to the New Year …

Brent crude outlook bearish on oversupply, grim oil demand; 2025 average pegged at $74 after hitting $80 in 2024
2 months, 4 weeks ago

Brent crude outlook bearish on oversupply, grim oil demand; 2025 average pegged at $74 after hitting $80 in 2024

Live Mint  

Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market. Brent crude would average $74.33 per barrel in 2025, down from a forecast of $74.53 in November, marking an eighth straight downward revision. Most …

Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade
3 months ago

Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade

Live Mint  

International crude oil prices rose almost one per cent on Thursday, December 26, in a holiday-thinned trading session driven by hopes for additional fiscal policy stimulus in China, the world's biggest oil importer, and supported by an industry report showing a decline in US crude inventories. Crude oil trades higher in holiday-thinned session -According to news agency Reuters, Chinese authorities …

Oil prices ease on surplus concerns, dollar strength
3 months, 1 week ago

Oil prices ease on surplus concerns, dollar strength

Live Mint  

By Nicole Jao NEW YORK -Oil prices edged lower on Monday in thin trade ahead of the Christmas holiday on concerns about a supply surplus next year and a strengthened dollar. Macquarie analysts projected a growing supply surplus for next year, which will hold Brent prices to an average of $70.50 a barrel, down from this year's average of $79.64, …

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl
3 months, 1 week 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 gains 6% in 5 days over EU sanctions on Russia, Iran & US Fed rate cut bets; Brent sits at 3-week high
3 months, 2 weeks ago

Oil gains 6% in 5 days over EU sanctions on Russia, Iran & US Fed rate cut bets; Brent sits at 3-week high

Live Mint  

International crude oil prices climbed about two per cent in the previous session to settle at a three-week high, driven by expectations that additional sanctions on Russia and Iran could tighten supplies and lower interest rates in Europe and the US Federal Reserve could boost global fuel demand. -Analysts say the price strength is driven by expectations of tighter sanctions …

IEA lifts 2025 oil-demand forecast but expects growth to remain subdued
3 months, 2 weeks ago

IEA lifts 2025 oil-demand forecast but expects growth to remain subdued

Live Mint  

aThe International Energy Agency lifted next year’s oil-demand estimates citing the impact of China’s stimulus measures, but said the pace of growth is expected to remain subdued. Both forecasts are considerably lower than last year’s growth of more than 2 million barrels a day, reflecting a weaker macroeconomic environment and shifts in oil consumption. The agency’s projections also remain substantially …

Oil climbs as Assad's fall brings more uncertainty to Middle East
3 months, 3 weeks 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
3 months, 3 weeks 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 …

Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict
3 months, 3 weeks ago

Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict

Live Mint  

OPEC+ verdict: Leading global investment bankers Morgan Stanley and HSBC revised down their expectations for an oil market surplus next year and forecast a Brent crude price of $70 per barrel, following a decision by the Organisation of Petroleum Exporting Countries to delay and slow plans for a higher crude output. Brent crude average, oil supply forecasts for 2025 According …

Brent nears $93, US WTI ticks higher after OPEC+ pushes back output hike, extends cuts through 2026
3 months, 3 weeks ago

Brent nears $93, US WTI ticks higher after OPEC+ pushes back output hike, extends cuts through 2026

Live Mint  

International crude oil prices traded higher on Thursday, December 5, after the Organisation of Petroleum Exporting Countries and its allies, in its virtual meeting, decided to delay its planned output increase by three months to April 2025 and extend the full unwind of production cuts by a year until the end of 2026. -According to Reuters calculations, the gradual unwinding …

'No surprises': OPEC+ considers extending supply cuts, likely to push output hike till next meeting
Trending News
3 months, 3 weeks ago

'No surprises': OPEC+ considers extending supply cuts, likely to push output hike till next meeting

Firstpost  

OPEC+ members are holding back 5.86 million barrels per day of output, or about 5.7% of global demand, in a series of steps agreed since 2022 to support the market OPEC+ will delay its plan to raise oil output, currently set to start in January, during its online meeting on Thursday, an OPEC+ source told Reuters, to provide additional support …

OPEC+ oil alliance faces stagnant prices for crude while US drivers enjoy cheaper gasoline
3 months, 3 weeks ago

OPEC+ oil alliance faces stagnant prices for crude while US drivers enjoy cheaper gasoline

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 The OPEC+ alliance of oil …

Key members of OPEC+ alliance are putting off production increases amid slack crude prices
3 months, 3 weeks ago

Key members of OPEC+ alliance are putting off production increases amid slack crude prices

Associated Press  

FRANKFURT, Germany — Eight members of the OPEC+ alliance of oil exporting countries decided Thursday to put off increasing oil production as they face weaker than expected demand and competing production from non-allied countries — factors that could keep oil prices stagnant into next year. Oil prices have been slack due to weaker than expected demand from China as well …

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
3 months, 3 weeks 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 …

Oil ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl
3 months, 3 weeks 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 …

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

Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell
4 months ago

Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Nov 28 - Asia's imports of crude oil ticked up slightly in November, led by a recovery by top importer China, but arrivals are still on track to be weaker this year than in 2023. For the first 11 months of the year, Asia's crude imports were 26.52 million bpd, down 370,000 bpd from the …

OPEC Has Little Room to Revive Oil Supply, Iran Official Says
4 months 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 rises after investors weigh escalation of Russia-Ukraine war amid rise in US crude stock; Brent at $73
4 months, 1 week ago

Oil rises after investors weigh escalation of Russia-Ukraine war amid rise in US crude stock; Brent at $73

Live Mint  

International crude oil prices were steady on Wednesday, November 20, as the escalating war between major oil producer Russia and Ukraine offset a rise in US crude and gasoline stocks. Back home, crude oil futures last traded 0.56 per cent lower at ₹5,825 per barrel on the multi commodity exchange. This has put geopolitical risk back in the market However, …

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71
4 months, 1 week 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 heads for weekly loss as Chinese demand continues to underperform
Trending News
4 months, 2 weeks ago

Oil heads for weekly loss as Chinese demand continues to underperform

Live Mint  

By Nicole Jao and Gabrielle Ng SINGAPORE -Oil prices fell on Friday on signs demand in China, the world's biggest crude importer, continues to underperform amid its uneven economic recovery. The decline in run rates occurred as China's factory output growth slowed last month and demand woes in its property sector showed few signs of abating even though consumer spending …

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?
4 months, 2 weeks ago

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?

Firstpost  

The surplus could provide a buffer for prices against potential supply-side price shocks from conflicts in West Asia and other regions Low oil demand from China, supply-side shocks due to the conflict in West Asia, and increase in oil production by countries like US and Brazil are all important factors in determining crude oil price. The IEA forecasts that global …

IEA lifts 2024 oil demand forecast but trims 2025 projections
4 months, 2 weeks ago

IEA lifts 2024 oil demand forecast but trims 2025 projections

Live Mint  

The International Energy Agency lifted its forecast for this year’s oil-demand growth but slightly trimmed next year’s estimates, citing the impact of China’s economic slowdown on consumption. “China’s marked slowdown has been the main drag on demand, with its growth this year expected to average just a tenth of the 1.4 million barrels a day increase in 2023," the IEA …

Oil Holds Near November Lows as Traders Brace for Crude Glut
4 months, 2 weeks 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 falls on Chinese stimulus disappointment, supply outlook
4 months, 2 weeks ago

Oil falls on Chinese stimulus disappointment, supply outlook

Live Mint  

By Erwin Seba HOUSTON -Oil prices fell by more than 2% on Monday after China's latest stimulus plan disappointed investors seeking demand growth in the world's second-biggest oil consumer, while supply looked set to rise in 2025. Donald Trump's U.S. election victory may continue to be affecting the market, said Phil Flynn, senior analyst for the Price Futures Group. Bank …

Oil rises as investors take stock of Trump victory, US crude stocks rise
4 months, 3 weeks 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
4 months, 3 weeks 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 hits one-week high on weak dollar ahead of US election results; Brent nears $76/bbl, WTI extends five-day streak
4 months, 3 weeks ago

Oil hits one-week high on weak dollar ahead of US election results; Brent nears $76/bbl, WTI extends five-day streak

Live Mint  

International crude oil prices edged one per cent higher to hit a one-week high on Tuesday, November 5, ahead of what is expected to be an exceptionally close US presidential election, after rising more than more than two per cent in the previous session as the Organisation of Petroleum Exporting Countries delayed plans to hike crude supply and production in …

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again
5 months 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 Rise as Middle East War Rages, but China's Demand Remains a Key Factor
5 months, 1 week ago

Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor

Live Mint  

Oil prices remain volatile as the Middle East war rages on, with Brent crude futures settling higher for the second consecutive session. China's recent efforts to stimulate its economy are expected to have a positive impact on oil demand, but it may take some time for the stimulus efforts to filter through to oil demand. Global oil inventories point to …

Saudi minister warns of $50 oil as OPEC+ members flout production curbs
5 months, 4 weeks 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 …

Oil Prices Slide as Supply Outshines Demand, but Libya's Output Remains a Factor
5 months, 4 weeks ago

Oil Prices Slide as Supply Outshines Demand, but Libya's Output Remains a Factor

Hindustan Times  

Oil prices fell on Tuesday as a stronger supply outlook and tepid global demand growth outweighed fears over escalating conflict in the Middle East. A panel of top ministers from the OPEC producer group meets on Oct. 2 to review the market, with no policy changes expected. The possibility of Libyan oil output recovering also weighed on the market.

Lebanon crisis: Oil prices climb on Middle East tensions
6 months 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," …

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