Central bankers who spent past weeks puzzling over how financial turmoil will impact their outlook now have a jolt in the form of higher oil prices to consider. The surprise production cut announced by OPEC+ […]
SINGAPORE/SEOUL, April 3 (Reuters) – The OPEC+ group’s surprise additional production cuts could push oil prices back towards $100 a barrel, tighten the market and encourage refiners to diversify supplies, analysts and traders said. […]
FRANKFURT, April 3 (Reuters) – An oil production target cut announced by some of the world’s top exporters is bad news for the European Central Bank as it tries to bring down inflation but will […]
EconomyEnergy Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data […]
Today OPEC+ woke up and chose scorched-earth war against the Fed. That’s because while the US central bank is already trapped, and is desperately looking for any excuse to halt its tightening campaign now that […]
Oil headed for a weekly surge of about 7% as an ongoing disruption to Iraqi exports tightened the market ahead of US inflation data. West Texas Intermediate futures fell to around $74 a barrel on […]
As required by the Inflation Reduction Act (IRA) of 2022, the Bureau of Ocean Energy Management (BOEM) auctioned oil and gas drilling rights across 73.4 million acres in the Gulf of Mexico despite the Biden […]
LONDON, March 30 (Reuters) – Oil prices rose on Thursday as a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region offset a smaller-than-expected cut to Russian supplies. Brent […]
After years of wrangling, the world’s most important oil price is about to be transformed for good, allowing crude supplies from west Texas to help determine the price of millions of barrels a day […]
March 30, 2023 Data source: U.S. Energy Information Administration, Petroleum Supply Annual and Petroleum Supply Monthly In 2022, U.S. crude oil exports averaged 3.6 million barrels per day (b/d), a record high according to export […]
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