OPEC and its allies will implement a modest 100,000 b/d rise in crude production quotas for September, in a slight nod to US President Joe Biden and other leaders that had pressed the group for […]
DUBAI, July 29 (Reuters) – Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman met Russian Deputy Prime Minister Alexander Novak on Friday in Riyadh, the Saudi energy ministry said on Twitter. The two discussed the […]
The OPEC+ group had a massive shortfall of 2.84 million barrels per day (bpd) in June between actual production and the target oil output level as part of the deal, two delegates at the alliance […]
The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, […]
Oil prices gained over 4.6% on Monday as the market attempted to digest developments in the Middle East, and as the dollar weakened slightly. Brent oil prices climbed to $105.8 per barrel by 3:42 EST Monday, up […]
(Bloomberg) — President Joe Biden will leave the Middle East this week with no announcements on increasing oil supply before a scheduled meeting of producers next month, people familiar with the matter said. Biden, who […]
Crude oil futures were higher in mid-morning Asian trade July 15, shrugging off rangebound trading over the past two sessions, as investors weighed conflicting signals of deteriorating macroeconomic fundamentals and a still tight oil market. […]
Crude oil prices tumbled overnight Tuesday as growing COVID-19 cases in China increased ongoing worries of an economic slowdown, both fueling fears of demand destruction, Australia’s ANZ Bank said in a Wednesday note. The prospect […]
Oil traders are selling oil again as concern about the course of the global economy deepens, taking the upper hand over supply fears. Brent crude has lost more than $20 per barrel over the past month, […]
(Bloomberg) — The White House believes the Organization of Petroleum Exporting Countries has room to raise oil production, should an upcoming visit by President Joe Biden to the Middle East yield any agreements. “We do […]
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