Iraqi Prime Minister Mohammed Shia Al Sudani signs the guest book during a reception at Qasr Al Watan in Abu Dhabi, United Arab Emirates, February 09, 2023. Mohamed Al Hammadi/UAE Presidential Court/Handout via REUTERS CAIRO, […]
Global benchmark Brent rose for a second consecutive week, getting a late boost from UAE officials denying OPEC exit plans.After wavering in the morning, crude’s rally was revived after state officials disputed a report from the […]
Summary Rise in global demand growth forecast is OPEC’s first in months Sees higher Chinese demand growth, ups global econ growth view Raises forecast of 2023 Russian output drop by 50,000 bpd Says Fed most […]
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 […]
By Josh Owens of Oilprice.com Crude oil production from all 13 OPEC members slid by 49,000 barrels per day (bpd) in January from December as top producer Saudi Arabia slashed output by 156,000 bpd, OPEC’s […]
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 […]
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