Oil prices dropped on Tuesday, finishing with huge losses, amid uncertainty about the outlook for production policies by major crude producers. Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies could not reach an agreement on the output policy starting August. Brent crude futures for September …
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Saudi Arabia decided to raise the official selling prices for the month of August for all oil crudes designated to be sold to Asia. Saudi Arabia, the world’s largest oil exporter, set the August official selling price for its Arab Light crude at $2.70 a barrel, above the Oman/Dubai average …
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After talks that lasted for two days, the OPEC+ meetings ended without an agreement, as the group’s ministers canceled talks related to production after a dispute that erupted last week when the UAE objected to a proposed extension of production restrictions for an additional eight months, but in return it …
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Oil prices jumped to their highest levels in several years, and saw US crude reach its highest level since 2014, after OPEC + producers disagreed about plans to increase supplies in the face of rising global demand. Brent crude jumped 62 cents, or 0.8 percent, to $77.78 a barrel after …
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Oil, Crude, trading
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Oil prices surged on Monday, for the fifth consecutive session, with markets anticipating the outcomes of the ongoing OPEC+ negotiations regarding output cuts. Brent crude futures for September delivery gained 99 cents, or 1.30%, to close at $77.16 per barrel, to log a new highest closing level since October 29, …
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Oil prices showed a mixed performance on Friday, amid with markets awaiting the outcomes of the OPEC+ summit. The OPEC+ alliance could not agree on Friday on a decision regarding output policy for August and beyond. Discussions are expected to resume on Monday, according to recent media reports. Brent crude …
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Oil prices fell on Friday, July 2 after OPEC + ministers postponed their meeting on production policy, while sources said that the UAE had blocked plans to return two million barrels per day to the market in the second half of the year. Brent crude futures were down 20 cents …
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Oil, Crude, trading
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Oil prices surged on Thursday, amid anticipation for the outcomes of the OPEC+ ministerial meeting, which is expected to announce tomorrow its decision on output policy for August and beyond. The decision has now been delayed twice from Wednesday to Friday, amid discussion about easing production cuts by about 400,000 …
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