Tag Archives: Oil

Oil, Crude, trading

Oil prices rose more than 2% on Wednesday, supported by a significant drop in US fuel inventories and expectations that OPEC + producers may take a decision against increasing production when they meet this week. US gasoline stocks fell last week by the most on record, and refining production fell …

Oil prices rose on Wednesday, despite the strong surge in crude inventories in the United States, supported by expectations that OPEC+ could be extending output cuts until the end of April. Recent reports suggested that the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form an …

Crude oil inventories in the United States surged by 21.6 million barrels last week, according to the weekly report of the U.S. Energy Information Administration (EIA) issued on Wednesday. The rise in oil supplies is much higher that what the market expected, as the S&P Global Platts survey expected an …

Sources in OPEC+ told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are considering extending oil production cuts from March to April instead of increasing production due to the fragility of crude markets due to continuing concerns about the Coronavirus …

Oil prices rose on Wednesday, March 3, as indications of progress in the distribution of Covid-19 vaccines in the United States, the world’s largest consumer, led to a rebound in demand expectations. US West Texas Intermediate crude futures rose 15 cents, equivalent to 0.25%, to $59.90 a barrel, recovering after …

Oil prices fell to their lowest in two weeks on the expectation that the OPEC+ group will ease restrictions on supplies during its meeting later this week as economies begin to recover from the Coronavirus pandemic. OPEC Secretary-General Muhammad Barkindo said that the outlook for oil demand looks more positive, …

Oil, Crude, trading

Crude oil inventories in the United States increased by about 7.4 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday. Gasoline inventories declined by 9.9 million barrels, while distillate stockpiles fell by 9.1 million barrels. Earlier today, Brent crude futures for May delivery fell …

Oil, Crude, trading