Crude oil prices (CL=F, BZ=F) are falling after OPEC+ announced it will extend its oil production cuts into 2025. Traders widely expected this move, but some of those production cuts will begin to be phased out […]
NEW YORK, June 3 (Reuters) – Oil prices tumbled by $3 a barrel on Monday to their lowest in nearly four months, as investors worried that a complicated OPEC+ output decision could lead to higher […]
OPEC+ will hold next month’s meeting to discuss oil production online rather than in person as originally scheduled. Saudi Arabia and its partners will gather on June 2 — a day later than initially planned […]
Weekly data by EIA reveals crude stockpiles of 7.3 million barrels for the week to April 26, a sharp swing from a draw of 6.4 million barrels posted the previous week. Standard Chartered: the fastest […]
As part of their commitment to compensate for exceeding production quotas, certain OPEC+ members have submitted detailed plans outlining how they intend to implement these compensatory cuts. Both Iraq and Kazakhstan, nations that had surpassed […]
Morgan Stanley sees heightened geopolitical risk pushing Brent Crude oil prices to $94 per barrel in the third quarter as the bank lifted its price forecast by $4 a barrel from its previous projection. “That […]
Prices could rise to a level that will constrain demand OPEC regained control of the market, says Sebastian Barrack Global oil markets are on track to be “extremely tight” in the second half, with prices […]
At this point Israel’s ties with key Gulf countries like the UAE are near breaking point, after only a few short years ago diplomatic normalization was hailed through Trump’s Abraham accords. But international and Israeli […]
(Bloomberg) – Iraq again missed its OPEC+ oil production target in March, potentially setting itself up for added scrutiny as the alliance prepares to review the country’s plan for supply. OPEC’s second-biggest producer pumped 4.17 […]
With Brent crude oil closing in on $90 per barrel on Wednesday, Bank of America energy analysts have boosted their price forecast for this year to average $86 per barrel and peak this summer at […]
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