(Bloomberg) — The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister. “Some people believe the prices to be […]
Beijing’s caution in challenging U.S. supremacy around the globe might be dissipating. Practical ramifications for the global oil sector from China’s geopolitical shift would be enormous. President Xi has signed a new directive that gives […]
Crude oil prices remained steady overnight Monday and edged up slightly on Tuesday as the ongoing refined product supply squeeze keeps oil prices elevated, OANDA analyst Jeffrey Halley said in a Tuesday note. In addition, […]
The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for this upward pressure is that […]
Global oil markets were experiencing unprecedented volatility in March and April 2020, with spot U.S. crude oil trading between $47 and negative $37 a barrel. By May the world was beginning to absorb the economic shutdown. It […]
Ever since the oil price crash of 2020, OPEC has been coordinating to adjust how much oil they produce in order to balance out supply with changes in demand. Most recently OPEC decided to increase […]
Stocks, the dollar and crude oil firmed on Monday as investors positioned themselves for more direction on interest rates and the economy from a string of central bank meetings spilling into next week. The European […]
Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to […]
OPEC will increase its oil production by 648,000 barrels per day starting in July. President Joe Biden is applauding this decision, but he seems to forget that high gas prices are partially the result of his administration’s energy policies. […]
OPEC and its oil-producing allies agreed to hike output in July and August by a larger-than-expected amount as Russia’s invasion of Ukraine wreaks havoc on global energy markets. OPEC+ will increase production by 648,000 barrels […]
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