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 […]
Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, will meet virtually on February 1. The meeting comes as the price of oil has rallied towards $90 a barrel. […]
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 […]
The recent crude price slump may not be indicative for what is to come in oil markets according to several investment bank analysts. OPEC has not consistently produced more than 30 million bpd since 2015-2018. […]
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