Tag Archives: oil output

Official delegates said on Monday that OPEC as well as the larger OPEC+ see no need to adjust or suggest a change of the oil production policy that is currently in place during the looming the Joint Ministerial Monitoring Committee meeting for March. OPEC and allies chose to voluntarily decrease …

The US crude oil benchmark, WTI, rose 0.87% to $73.51, driven by a weaker US Dollar and lower oil output forecasts. The Fed’s cautious interest rate outlook, with Loretta Mester highlighting a data-driven approach, has influenced market sentiment. The US Energy Department’s report lowering oil output and the Fed’s cautious …

The majority of analysts interpret Angola’s recent withdrawal from OPEC as a hint that further Chinese investment is welcome. As part of a strengthening of long-standing relations, Beijing may be able to invest more in Angola’s oil and other sectors as a result of the country’s decision to exit OPEC. …

While US WTI slid $3.29, or 3.69 percent, to $85.94 per barrel, Brent crude oil futures were down $3.30, or 3.63 percent. On Wednesday, October 4, oil plummeted by more than $3 a barrel as worries about macroeconomic headwinds’ impact on demand outweighed Saudi Arabia’s and Russia’s commitments to maintain …

As profit-taking increases and the US Dollar strengthens as a result of rising US Treasury bond yields, WTI crude declines 2.37% to $88.54 per barrel. The demand for oil may be at danger due to worries about the economy’s slowdown, which are emphasized by lower manufacturing data from China and …

The price of natural gas tried to climb above $2.85. Trading speculation that Saudi Arabia and Russia might extend their voluntary production restrictions caused WTI oil to rise. The price of Brent oil increased as the oil markets as a whole rallied. As traders react to the EIA report, which …

India’s Oil Minister, Hardeep Singh Puri, told the media that his country would buy oil from all available sources at the “lowest possible prices”. India has been buying crude oil from Russia, now its biggest supplier, at discounts since the West imposed restrictions on imports from Moscow following its invasion …

Shipping data from commercial and industrial sources showed that India’s imports of crude oil from Russia fell in July for the first time in nine months, and shipments from Saudi Arabia fell to the lowest level in two and a half years after production cuts from OPEC +. China and …

Oil prices stabilized on Thursday after a sharp decline on Wednesday, as the market balanced between a jump in refinery production in China, the world’s largest crude importer, and a weak economic outlook there. Brent crude futures rose only three cents, or 0.04 percent, to $73.23 a barrel by 0903 …

Oil prices rose slightly in Asian trading on Wednesday morning, as investors await the results of the Federal Reserve meeting for the month of June, key economic data from China and government data on US crude stocks. By 0340 GMT, Brent crude futures rose nine cents, or 0.1 percent, to …