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 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 exchange. The IEA forecasts global oil supply to exceed demand by more than one million barrels per day in 2025 even if cuts remain in place. -The Organisation of Petroleum Exporting Countries, meanwhile, cut its forecast for global oil demand growth for this year and 2025, highlighting subdued demand in China, India and other top importers in Asia and Middle East.

Global Growth China Demand Chinese Cent Fed Rate Cut Crude Rate Cuts Brent Us Fed Oil Sheds  settled  lower  production  crude  slow  demand  pace  cent  oil  sheds  fed  cut  sits  rate  subdued  global  growth

History of this topic

IEA says trade tensions weigh on oil demand, warns of supply surplus
1 week, 1 day 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 Falls as China Data Deepens Gloom and Risk-Off Takes Hold
1 week, 5 days ago

Oil Falls as China Data Deepens Gloom and Risk-Off Takes Hold

Live Mint  

Oil fell as weak economic data from China compounded a tough outlook for demand, and wider markets carried a risk-off tone. China’s consumer inflation fell more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the biggest crude importer. “Asia starts the week on a cautious tone, with crude working in …

Brent logs biggest weekly loss in 4 months, US WTI crashes 4%: Goldman Sachs eyes downside risk ahead of OPEC+ supply
Trending News
1 week, 6 days ago

Brent logs biggest weekly loss in 4 months, US WTI crashes 4%: Goldman Sachs eyes downside risk ahead of OPEC+ supply

Live Mint  

Oil prices gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine. In early trade, Brent jumped as high as $71.40, while WTI hit $68.22 after Russia's Deputy Prime Minister Alexander Novak told reporters that the OPEC producer group will go ahead with its …

Top oil executives reckon with downturn even as Trump cheers them on
2 weeks ago

Top oil executives reckon with downturn even as Trump cheers them on

Live Mint  

* Trump's policies have upended trade flows * Industry grapples with mass layoffs, activist investor push * Oil investment, output growth unlikely despite govt push * Oil prices hover around $70 a barrel By Arathy Somasekhar HOUSTON, March 7 - The world's energy industry leaders meet in Houston next week as plummeting oil prices push Big Oil to slash thousands …

Crude prices at six-month low levels fuel stocks of oil marketing companies
2 weeks, 1 day ago

Crude prices at six-month low levels fuel stocks of oil marketing companies

The Hindu  

Shares of Oil marketing companies extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to …

Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook
Trending News
2 weeks, 2 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
2 weeks, 2 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 Rises Most in Six Weeks as US Affirms Canada, Mexico Tariffs
3 weeks, 1 day ago

Oil Rises Most in Six Weeks as US Affirms Canada, Mexico Tariffs

Live Mint  

Oil rose the most in six weeks as President Donald Trump affirmed plans to impose tariffs on the top two suppliers of crude to the US. The tariffs threaten to disrupt North America’s tightly integrated oil industry and raise demand for US crude to backfill any Canadian or Mexican barrels that are diverted elsewhere to avoid the levies. Even with …

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

Rupee at record low, crosses 87 per US dollar for the first time as Trump tariffs rattle Asian currencies
1 month, 2 weeks ago

Rupee at record low, crosses 87 per US dollar for the first time as Trump tariffs rattle Asian currencies

Live Mint  

The Indian rupee opened at a record low on Monday, breaching 87 per US dollar for the first time, as Asian currencies slumped amid a surge in US dollar after US President Donald Trump imposed tariffs on the country’s largest trading partners. The dollar index was up 0.3% at 109.8, while Asian currencies weakened, with the offshore Chinese yuan down …

Oil snaps 4-week winning streak after Donald Trump plans to boost US crude output; Brent at $78, WTI sheds 4% in 5 days
1 month, 3 weeks 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 …

China leads in global green and low-carbon energy transition
Trending News
1 month, 3 weeks ago

China leads in global green and low-carbon energy transition

China Daily  

A drilling platform in Kaiping South Oilfield in the South China Sea. Renewable energy has become the mainstay of electric power installation and China's petroleum consumption is projected to reach its peak in 2025, the report said citing an industrial report on domestic and international oil and gas development. In 2024, China's apparent petroleum consumption reached 756 million tons, with …

China leads in global green and low-carbon energy transition
1 month, 3 weeks ago

China leads in global green and low-carbon energy transition

China Daily  

By Yang Yang | chinadaily.com.cn | Updated: 2025-01-23 17:11 A drilling platform in Kaiping South Oilfield in the South China Sea. Renewable energy has become the mainstay of electric power installation and China's petroleum consumption is projected to reach its peak in 2025, the report said citing an industrial report on domestic and international oil and gas development. In 2024, …

OPEC sticks to oil-demand view
2 months 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 …

Oil prices extend losses on rising U.S. fuel inventories
2 months, 1 week ago

Oil prices extend losses on rising U.S. fuel inventories

Live Mint  

By Yuka Obayashi TOKYO, Jan 9 - Oil prices fell on Thursday, extending losses from the previous day, pressured by large builds in U.S. fuel inventories last week, though concerns over tighter supplies from OPEC members and Russia capped the decline. Gasoline stocks rose by 6.3 million barrels last week to 237.7 million barrels, the U.S. Energy Information Administration said …

Oil prices down on US fuel stocks build, dollar strength
2 months, 1 week 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 prices drop amid supply concerns and weak economic data
2 months, 2 weeks ago

Oil prices drop amid supply concerns and weak economic data

Hindustan Times  

Oil prices eased on Tuesday, extending losses into a second consecutive session after last week's rally, although concerns about tighter Russian and Iranian supply amid widening Western sanctions checked losses. Despite worries about tighter Russian and Iranian supplies amid growing Western sanctions, oil prices dropped on Tuesday, extending losses into a second straight session following last week's gain. "This week's …

Oil prices extend losses, firmer dollar and supply outlook weigh
2 months, 2 weeks ago

Oil prices extend losses, firmer dollar and supply outlook weigh

Live Mint  

By Colleen Howe BEIJING, Jan 7 - Oil prices extended losses into a second straight session on Tuesday on technical correction after last week's rally, while forecasts for ample supply and a firm dollar also weighed. Both benchmarks rose for five days in a row last week and settled at their highest levels since October on Friday, partly due to …

Oil Falls as Technicals Signal Five-Session Rally Is Overdone
2 months, 2 weeks ago

Oil Falls as Technicals Signal Five-Session Rally Is Overdone

Live Mint  

-- Oil is on track to snap a five-session rally as key technical markers show gains driven by tightness in global physical crude markets may have gone too far. “Fundamentals have improved enough for crude prices to find a floor, but not enough to sustain a durable rally,” said Jon Byrne, an analyst at Strategas Securities. At the moment, “$75 …

Oil rises from two-month highs on optimism ove
2 months, 2 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, 2 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, 2 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 …

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

Oil rises as investors return from holidays, eye China recovery

Live Mint  

By Florence Tan SINGORE, - Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Traders are returning to their desks and probably weighing higher geopolitical risks and also the impact of …

Brent crude outlook bearish on oversupply, grim oil demand; 2025 average pegged at $74 after hitting $80 in 2024
2 months, 2 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 logs weekly gain in holiday-thinned trade on low US crude stock, China stimulus outlook; Brent sits at $74/bbl
2 months, 3 weeks ago

Oil logs weekly gain in holiday-thinned trade on low US crude stock, China stimulus outlook; Brent sits at $74/bbl

Live Mint  

International crude oil prices settled more than one per cent higher in the previous session, logging a weekly gain in low trading volume ahead of year-end. Back home, crude oil futures settled 0.17 per cent higher at ₹6,045 per barrel on the multi-commodity exchange. -US crude oil inventories fell by 4.2 million barrels in the week ended December 20 as …

Oil prices steady as weekly rise expected amid China's economic recovery hopes
2 months, 3 weeks ago

Oil prices steady as weekly rise expected amid China's economic recovery hopes

Hindustan Times  

Oil prices were little changed on Friday but were set for a weekly rise amid optimism economic stimulus efforts will prompt a recovery in China, the world's biggest oil importer. With hopes that economic stimulus initiatives will spur a resurgence in China, the world's largest oil importer, oil prices were little altered on Friday but were expected to climb weekly. …

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

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts
2 months, 3 weeks ago

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts

Live Mint  

-- US crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and the country buys more barrels from countries including Russia and Iran. Exports of US oil to China plunged to 81.9 million barrels over the course of the year, down 46% from 150.6 million barrels last year, according to …

China’s EV boom is starting to pinch oil producers
2 months, 3 weeks ago

China’s EV boom is starting to pinch oil producers

Live Mint  

The country has long been the thirstiest consumer of crude. While China’s overall oil demand still appears stable, its composition is shifting gears rapidly. Gasoline and diesel demand seems to have peaked: China’s total demand for these transportation fuels in 2024 will be 3.6% lower than in 2021, according to IEA estimates. Diesel and gasoline accounted for 44% of China’s …

Oil prices ease on surplus concerns, dollar strength
2 months, 3 weeks 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 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 Halts Two-Day Drop as Report Points to Big US Stockpile Draw
3 months ago

Oil Halts Two-Day Drop as Report Points to Big US Stockpile Draw

Live Mint  

Oil steadied after a two-day drop as an industry report signaled a sizable drawdown in US commercial crude inventories. The American Petroleum Institute said US stockpiles shrank by 4.7 million barrels last week, which would be a fourth straight decline if confirmed by official figures later Wednesday. That’s been tempered by lackluster Chinese demand and expectations for robust production from …

2024 turning point for country's refined oil market
3 months ago

2024 turning point for country's refined oil market

China Daily  

A drilling platform in Kaiping South Oilfield in the South China Sea in December 2023. China's economic structural transformation and the rapid rise of renewables will make 2024 a turning point for the country's refined oil market, with demand set to shrink for the first time, industry experts say. Due to the accelerated replacement of traditional energy with renewable sources …

2024 turning point for country's refined oil market
3 months ago

2024 turning point for country's refined oil market

China Daily  

A drilling platform in Kaiping South Oilfield in the South China Sea in December 2023. China's economic structural transformation and the rapid rise of renewables will make 2024 a turning point for the country's refined oil market, with demand set to shrink for the first time, industry experts say. Due to the accelerated replacement of traditional energy with renewable sources …

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, 1 week 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, 1 week 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, 1 week 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, 2 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, 2 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, 2 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, 2 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, 2 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, 2 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, 2 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, 2 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 …

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops
Trending News
3 months, 2 weeks 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 …

Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts
3 months, 3 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
3 months, 3 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 …

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