Articles for Higher Oil Prices

Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz
8 months ago

Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz

Hindustan Times  

Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz The Iran and Israel …

India Oil Prices Iran Iraq Saudi Arabia Israel
OPEC+ Production Could be the Swing Barrels that Drive Prices
9 months ago

OPEC+ Production Could be the Swing Barrels that Drive Prices

The Hindu  

Crude oil prices have been rising year to date in 2024, with a stable trajectory.. OPEC+’s decisions on production quotas significantly impact global oil markets and energy prices. How do OPEC+ Quotas Impact Crude Oil Prices OPEC+ quotas can significantly impact crude oil prices due to the organization’s influence over global oil supply. When OPEC+ members agree to adjust production …

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Global oil prices could hit $100 a barrel: How it will impact the world
1 year, 2 months ago

Global oil prices could hit $100 a barrel: How it will impact the world

Firstpost  

The increasing oil prices complicates the global fight against inflation and feeds Russia’s war chest. That poses problems for politicians as well as the people having to spend more to get to work, transport the world’s goods or harvest fields The year 2023 is seeing a major increase in crude oil prices, with Brent Crude rising by nearly 19 per …

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Oil prices have risen. That’s making gas more expensive for US drivers and helping Russia’s war
1 year, 2 months ago

Oil prices have risen. That’s making gas more expensive for US drivers and helping Russia’s war

Associated Press  

FRANKFURT, Germany — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. Oil prices can be volatile, and while they might briefly top $100 in the coming months, they’re unlikely to stay there, said Jorge Leon, senior vice president for oil markets at Rystad Energy. Leon said the Saudis will review …

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OPEC+ output cut could lead to higher oil prices and increase India’s import expense: IEA
1 year, 8 months ago

OPEC+ output cut could lead to higher oil prices and increase India’s import expense: IEA

India TV News  

The International Energy Agency called OPEC+’s move to limit oil production “risky for the global economy”, saying it could push up already high prices, resulting in greater import costs for countries like India. In response to an inquiry on the potential impact of Saudi Arabia’s reduction in oil production on countries such as India, Fatih Birol, Executive Director of the …

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How India can minimise the damage from OPEC+ production cuts
1 year, 8 months ago

How India can minimise the damage from OPEC+ production cuts

Live Mint  

The Organisation of Petr​​oleum Exporting Countries and its oil-producing allies such as Russia and Azerbaijan, collectively known as OPEC+, have decided to cut oil production by 1.15 million barrels a day. While OPEC takes the flak for higher oil prices with its publicised production cuts – the second since last October – another culprit escapes attention: US shale producers. While …

India Russia Oil Prices Production Price Oil Prices
OPEC+ cuts put $100/bbl oil back in sight
1 year, 8 months ago

OPEC+ cuts put $100/bbl oil back in sight

Live Mint  

Surprise new cuts to the OPEC+ group's output targets could push oil prices towards $100 a barrel, setting the scene for another clash with the West grappling with higher interest rates, analysts and traders said on Monday. "The U.S. administration may also argue that higher oil prices will counter its efforts to put out the inflation fire," he added. "Producing …

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EXPLAINER: How will OPEC+ cuts affect gas prices, inflation?
2 years, 2 months ago

EXPLAINER: How will OPEC+ cuts affect gas prices, inflation?

Associated Press  

FRANKFURT, Germany — Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy. “We are going through a period of diverse uncertainties which could come our way, it’s a brewing cloud,” he said, and OPEC+ sought to remain “ahead of the curve.” He described the group’s role …

Global Economy Europe Russia Inflation Oil Prices
EXPLAINED: How Will OPEC+ Cuts Affect Oil Prices, Inflation?
2 years, 2 months ago

EXPLAINED: How Will OPEC+ Cuts Affect Oil Prices, Inflation?

News 18  

Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy. “We are going through a period of diverse uncertainties which could come our way, it’s a brewing cloud,” he said, and OPEC+ sought to remain “ahead of the curve.” He described the group’s role as “a moderating …

Global Economy Europe Russia Inflation Oil Prices
What Russia’s invasion of Ukraine could mean for the US economic recovery
2 years, 9 months ago

What Russia’s invasion of Ukraine could mean for the US economic recovery

CNN  

Editor’s Note: Mark Zandi is chief economist of Moody’s Analytics. Painfully high inflation has become the nation’s number one economic problem, ignited by the pandemic, and set to get worse as Russia’s invasion of Ukraine sends gasoline prices higher. If sustained, $100-a-barrel oil would ultimately add as much as half a percentage point to year-over-year consumer price inflation, based on …

Ukraine Russia Inflation Economic Prices Economic Recovery Oil Prices