(Reuters) – Oil prices were stable on Wednesday, as the market weighed gloomy economic prospects against expectations of U.S. crude inventory declines and OPEC’s voluntary output cuts announcement. Brent crude futures gained 22 cents, or […]
For a third day oil fell, off weakened Chinese demand outlook as well as rising US inventories, which were revealed in a new industry report. After falling 4% over the first two days of the […]
European Union ambassadors have reached an agreement on a new package of sanctions against Russia, including a price cap. The political agreement on the price cap contains measures to soften the impact of the sanctions […]
There are asymmetrical upside drivers for oil prices by the end of the year, according to RBC Capital Markets, which is long oil with WTI call options for June 2023 at $120 a barrel. The […]
On Wednesday oil prices plummeted, as global benchmark Brent crude fell below $90 per barrel, and American benchmark West Texas Intermediate (WTI) landed at around $85 per barrel. According to data from London’s Intercontinental Exchange, […]
(Reuters) – U.S. oil production forecasts are being revised upwards despite labor and supply chain constraints as higher prices spur more drilling and well completion activity, according to industry experts. Calls for new oil supplies are being […]
The number of total active drilling rigs in the United States rose by 13 this week. U.S. oil rig count rises by 8 rigs. The rig count in the Permian Basin rose by 6 this […]
Russia has threatened to close a major gas pipeline to Germany and warned of $300 oil prices if the West goes ahead with a ban on its energy exports. “It is absolutely clear that a […]
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