Tag Archives: Oil

Active rigs drilling for crude oil in the United States increased by 13 to a total of 337 this week, data by Baker Hughes showed on Thursday. The total number of rigs drilling for both crude oil and natural gas increased by 13 to 430, as the number of natural …

Sources in OPEC + told Reuters that the group will discuss two main options for oil policy in May and after that, including an extension of existing cuts and a gradual increase in production. Two sources said the increase would not exceed 0.5 million barrels per day.

Oil prices rose on Thursday, April 1, to offset some of the losses incurred in the previous session, as hopes grew that OPEC and its allies, who will meet later today, will decide to continue curbing production in the face of a new rise in Covid-19 infections in some areas. …

Oil, Crude, trading

Oil prices fell on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies lowered their forecast for the growth of oil demand in 2021. Brent crude futures for May delivery lost $0.60, or 0.94%, to settle at $63.54 per barrel. Meanwhile, the U.S. West Texas Intermediate …

According to a Reuters survey, OPEC oil production rose in March, as an increase in supplies from Iran was matched by reductions from other members under an agreement with allies, and represents an obstacle to efforts to limit supplies if the increase by Tehran continues. The survey concluded that the …

According to a Reuters survey, OPEC oil production rose in March, as an increase in supplies from Iran was matched by reductions from other members under an agreement with allies, representing an obstacle to efforts to limit supplies if the production increase by Tehran continues. The survey concluded that the …

A report issued from an OPEC + expert team committee reviewed by Reuters revealed that the cartel has lowered its forecast for global oil demand growth in 2021 by 300,000 barrels per day, indicating concerns about the market’s recovery in light of a new wave of lockdown measures to combat …

Oil prices rose on the eve of an OPEC+ meeting, while investors believe that producers will largely agree to extend curbs on their supplies until May. OPEC+ raised concerns about the increase in the number of Coronavirus cases globally and that the general isolation measures will affect the recovery of …

A report from the OPEC+ Joint Technical Committee reviewed by Reuters revealed concerns that uncertainty may affect the recovery of oil demand amid increasing global coronavirus infections and lockdown measures. The committee added in the report that despite the ongoing elimination of OECD commercial stocks, still above the 2015-2019 average, …