Toril Bosoni, head of the International Energy Agency’s markets and industry division, says oil prices could climb further because of the OPEC+ coalition’s “chronic” struggle to revive production. “It’s not in the interest of consumers, but […]
OPEC and its allies are expected to approve another modest oil-output increase this week, yet once again struggle to deliver all of the extra supplies into a red-hot crude market. The recovery in fuel consumption from the […]
With Brent oil prices having surged to around $90 per barrel, OPEC and its allies may announce a bigger-than-expected rise in output, according to Goldman Sachs Group Inc. The outcome of Wednesday’s meeting remains “evenly balanced” […]
OPEC sees oil market supported by demand in a monthly report Goldman Sachs sees $100-a-barrel crude by the third quarter Oil surged to the highest level in seven years as robust demand and strained supplies […]
Brent trades above $85, set for a fourth weekly increase Physical crude markets and diesel are all flashing strength Oil headed for a fourth straight weekly gain, the longest streak since October, on signs that […]
(Bloomberg) –Russia failed to boost oil output last month despite a generous ramp-up quota in its OPEC+ agreement, indicating the country has deployed all of its current available production capacity. With OPEC+ meeting in two […]
Oil rose for a third straight week as demand remained resilient, while supplies are frayed across the OPEC+ coalition and beyond. West Texas Intermediate crude in New York climbed 5% this week, despite closing down 0.7% […]
Oil at $100 a barrel was considered inevitable not too long ago, as Wall Street strategists predicted a commodities supercycle. And it still remains in play, even with the omicron variant raging and Covid cases […]
As I have talked about for several months, OPEC and OPEC + have again reached the global power that they originally desired. The United States shale revolution held that in check and reduced their influence […]
LONDON (Bloomberg) –OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains […]
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