The US oil price tumbled more than six percent Monday, a day after producers decided to increase output and as stock markets slumped with surging Covid cases threatening economic recovery. The benchmark US crude contract, WTI, was […]
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. Futures flickered near $75 a barrel in […]
MOSCOW: Russian oil prices from the Volga river region for domestic market supply in July have reached a record high, rising by around 11% from the previous month thanks to stronger oil prices on global markets, Reuters […]
The U.S. oil market is reaching a crunch point. Each week drivers are traveling billions of miles on interstates, just as they did in 2019, before the pandemic ravaged global oil consumption. But despite a […]
A gradual oil demand recovery is largely on track as economies re-open, British bank Barclays said on Friday, adding that it remained constructive on oil prices despite rising coronavirus cases across Asia and potential return of Iranian supplies. It cut demand […]
New Delhi: It is safe to say that the oil markets are on the way to recovery, despite still-widespread Covid-19 infections, notably in India, Europe and the US, after suffering what has been its worst year ever. […]
Sustained momentum in commodity prices will support the turnaround in the global Oil & Gas industry’s fundamental conditions and a positive global sector outlook through mid-to-late 2022, according to Moody’s Investors Service. “Pent-up consumer demand and a pickup […]
Oil prices rose on Wednesday amid optimistic forecasts of global fuel demand recovery, while the rapid spread of COVID-19 infections in India and a bigger-than-expected build in U.S. crude stocks capped gains. U.S. West Texas […]
Oil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. Futures […]
Pioneer Natural Resources is buying its neighbor in the Midland Basin, making it the largest producer in the Permian Basin. Irving-based Pioneer is using a combination of its own stock, cash and debt to purchase […]
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