Russia’s seaborne crude flows are holding strong, meaning a pledge by the Kremlin to cut the nation’s production sharply has yet to feed through into supplies to the international marketplace. The nation’s shipments slid by 123,000 barrels […]
OPEC+ considers this week’s slide in oil prices to a more than one-year low to be driven by financial fears, not any imbalance between demand and supply, and expects the market to stabilise, four delegates […]
The OPEC+ alliance plans to stick with an oil deal agreed in late 2022 for the rest of the year, Saudi Arabia’s energy minister said, reinforcing earlier signals from the group. In October, OPEC and […]
Summary Oil rally to $100 not ruled out by OPEC sources So far in 2023 Brent is up slightly at just over $86 China demand rebound, lack of sizeable supply growth key drivers Some OPEC […]
Oil posted its largest weekly gain in four months after Russia followed through on a threat to cut production in response to western energy sanctions. Moscow says it will reduce output by half a million […]
Oil rallied as Saudi Arabia signaled confidence in the demand outlook with a surprise boost in crude prices, while investors awaited comments on monetary policy from Federal Reserve Chair Jerome Powell. West Texas Intermediate futures […]
Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global oil demand would more than double. While […]
Saudi Arabia’s energy minister reiterated that the kingdom will remain cautious about raising oil production, even as several prominent analysts say rising demand will soon trigger a jump in prices.“I will believe it when I […]
OPEC+ delegates said they expect an advisory committee of ministers to recommend keeping oil production levels unchanged when they meet next week amid a tentative recovery in global demand. Saudi Arabia and its partners will […]
By Grant Smith and Mark Cudmore, Bloomberg markets live reports and strategists Oil prices may have surrendered the bulk of this year’s gains, but the conditions are right to lure back bulls in the new […]
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