LONDON, April 3 (Reuters) – OPEC and its allies, including Russia, agreed on Sunday to widen crude oil production cuts to 3.66 million barrels per day (bpd) or 3.7% of global demand. The surprise announcement helped […]
(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 […]
OPEC’s surprise decision to slash oil production stands to enrich an unexpected cohort: US shale drillers. The shock announcement sent US oil prices up by as much as $6 a barrel, signaling a new round […]
The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite […]
The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite the […]
The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite the […]
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina April 3 (Reuters) – Brent oil prices […]
Sunday’s surprise OPEC+ production cuts have redefined the outlook for crude prices, bringing $100 a barrel back into the frame.Prior to the announcement, the cartel’s own numbers suggested the group would need to pump more […]
EconomyEnergy Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data […]
OPEC+ announced a surprise oil production cut of more than 1 million barrels a day, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy. It’s a significant […]
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