Turkey accused the United States of bullying its ally Saudi Arabia after OPEC+ producers announced major oil production cuts despite American objections. OPEC+ announced recently it would produce two million barrels of oil less a day […]
Portfolio investors continued heavy buying of crude oil futures and options for a second week after OPEC+ cut its production target more than expected. Hedge funds and other money managers purchased the equivalent of 47 […]
WASHINGTON, Oct 11 (Reuters) – President Joe Biden pledged on Tuesday “there will be consequences” for U.S. relations with Saudi Arabia after OPEC+ announced last week that it would cut its oil production target over […]
Summary For energy investors, the key takeaway from the OPEC+ meeting is that the group is willing to defend a floor in oil prices, presumably around $90 per barrel for the global benchmark Brent. In […]
SINGAPORE, Oct 10 (Reuters) – Saudi Aramco has told at least seven customers in Asia they will receive full contract volumes of crude oil in November ahead of the peak winter season, several sources with […]
The Organization of the Petroleum Exporting Countries (OPEC) and allied oil-producing nations have backed a plan to dramatically slash oil supplies in a bitter blow to President Joe Biden . At an OPEC Plus meeting in Vienna, […]
Washington sees OPEC+’s decision to slash oil production by more than 2 million barrels a day as political interference and a “blow” against U.S. President Joe Biden, said Dan Yergin, vice chair of S&P Global. […]
Washington sees OPEC+’s decision to slash oil production by more than 2 million barrels a day as political interference and a “blow” against U.S. President Joe Biden, said Dan Yergin, vice chair of S&P Global. […]
Key takeaways Oil prices dropped negative at the height of the pandemic thanks to lockdowns. Oil companies were unprepared when lockdowns were removed and the government provided stimulus money to citizens. A handful of events, […]
Energy analysts believe deep production cuts from OPEC+ could yet backfire for U.S. ally Saudi Arabia. OPEC and non-OPEC allies, a group often referred to as OPEC+, agreed on Wednesday to reduce oil production by […]
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