Extensions come despite oil rally, fresh blow to Biden Riyadh extends 1 mln bpd cuts to end-2023 Moscow extends 300,000 bpd cuts to year-end Both to review cuts monthly, may deepen or boost DUBAI, Sept […]
Aug 31 (Reuters) – Analysts have raised their 2023 oil price forecasts for the first time in four months with OPEC+ output cuts expected to keep supply tight, offsetting risks to demand from a stalling […]
Oil prices slid on Monday morning, with Brent falling below $86 per barrel and WTI trading at $82.31. China’s economic woes combined with a strong U.S. dollar are weighing on oil prices. OPEC+ production cuts […]
US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast. Higher-than-expected well […]
Wall Street giant BlackRock just added the CEO of Saudi Arabia ’s national oil company, Saudi Aramco, to its board of directors. The New York Times headline announcing the move read, “ BlackRock Forges New Ties With Big Oil ,” giving the impression […]
By Tsvetana Paraskova of OilPrice.com, China is set to import 40% more crude from Saudi Arabia under term contracts in September despite the unilateral production cut of 1 million barrels per day (bpd) of the […]
US fuel stockpiles fell sharply last week -EIA US crude stocks soar on record export drop -EIA Saudi cabinet reaffirms support for OPEC+ measures Oil prices hit new peaks on Wednesday with the global Brent […]
AAA reports that the average price for regular gas at the pump hit $3.825 on August 9, the highest level seen in 2023, amid growing concerns that global oil markets are undersupplied by as much […]
OPEC+ leaders Saudi Arabia and Russia are set to keep tightening the oil market into the autumn, announcing Aug. 3 they will extend their supply cuts through at least September. Saudi Arabia will continue the […]
By Grant Smith, Bloomberg Markets Live oil reporter The biggest question in oil markets is how long Saudi Arabia will extend its 1 million-barrel-a-day supply cut. Riyadh’s handling of a previous strategy offers some guidance […]
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