[ad_1] OPEC+ agreed to hike July oil output by 411,000 barrels per day (bpd) on Saturday, the same as in May and June, after the group of oil-producing countries looks to grab back market share and punish over-producing members. According to Reuters, eight OPEC+ members of the group are unwinding 2.2 million bpd in voluntary…
[ad_1] (Bloomberg) — Oil slumped as OPEC discussed making a second major production increase, inflaming concerns about swelling global supplies that have dragged down crude prices this year. West Texas Intermediate futures fell almost 2% to trade around $58 a barrel, continuing a slide this week that has brought prices near the lowest since early…
[ad_1] May 2 – Oil prices pulled ahead in early Asian hours on Friday after China said its door is open for talks with the United States, raising hopes of a de-escalation in a bitter trade war between the world’s two largest economies. Brent crude futures rose 38 cents, or 0.6%, to $62.51 a barrel…
[ad_1] NEW YORK – Oil prices fell about 2% to a two-week low on Tuesday as investors braced for OPEC to boost output and worried U.S. President Donald Trump’s tariffs would hit the global economy and slow demand for the fuel. Brent crude futures fell by $1.61, or 2.4%, to settle at $64.25 per barrel….
[ad_1] (Bloomberg) — 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. Brent crude plummeted 2.4% to settle just above $69, while West Texas Intermediate dropped 2.9% to settle near…
[ad_1] As US-Russia negotiations over the Ukraine-Russia war start, there are two competing views in the market. One says the talks will be long and winding, thus, sanctions will remain in place for months, perhaps years. The other says that relief is around the corner. I believe the latter is more likely. Moreover, what really…
[ad_1] What began as levies on Chinese imports and on neighbouring countries Canada and Mexico has now begun to rapidly engulf the world. The US has articulated its intent: it wants a levelling-up over import levies imposed by others on American goods, the development of its domestic manufacturing industry, and to push ahead with fossil-fuel…
[ad_1] New Delhi [India], August 12 (ANI): The Organization of the Petroleum Exporting Countries (OPEC) has slightly revised down global crude oil demand forecast for 2024, citing softer intake by China. The world oil demand growth forecast for 2024 is revised down slightly by 135,000 barrels per day from the previous month’s assessment. It now…
[ad_1] (Bloomberg) — Oil edged up as internal market metrics flashed signs that recent declines were overdone, overshadowing the prospect of a temporary truce in Ukraine. West Texas Intermediate rose 0.3% to top $66 a barrel, recovering from the lowest closing price in six months. Ukraine said it’s ready to accept a US proposal for…
