Tag Archives: Oil

Oil prices fell for a second session today, Friday, to fall further from its highest level in a year after OPEC cut its demand forecast again, and the International Energy Agency said the market was still experiencing a surplus in supplies. Brent crude fell 39 cents, or 0.6%, to $ …

Oil, Crude, trading

Oil prices declined on Thursday, ending its best rising-streak in about two years, amid concerns about the recovery of the global demand this year. Earlier today, the Organization of the Petroleum Exporting Countries (OPEC) revised down its expectations for the global demand for crude oil to rise by 5.8 million …

The Organization of the Petroleum Exporting Countries (OPEC) is expecting the global demand for crude oil to rise by 5.8 million barrels per day (b/d) in 2021, decreasing its previous expectations by about 100,000 b/d. Extended lockdowns and the re-introduction of partial lockdowns in a number of countries has resulted …

The International Energy Agency said today, Thursday, that global oil supplies are still exceeding demand due to the continuing general isolation measures aimed at combating the Coronavirus and the spread of its strains, but vaccines should help to recover demand and quickly allow producers to pump more. The Paris-based Energy …

Sources told Reuters that despite plans to increase its oil production, data show that Russia’s production of oil and gas condensate actually fell from February 1 to February 10 to 10.11 million barrels per day from an average of 10.16 million barrels per day in January. As of February, Russia …

Oil prices retreated, giving back some of the strong recent gains they have made, on expectations of a slower economic recovery and speculation that market strength may entice producers like Saudi Arabia to reduce production. Brent crude fell 35 cents, or 0.6%, to $ 61.12 a barrel with the opening …

Oil, Crude, trading

The rally of oil prices continued on Wednesday, supported by the decline in the United States crude inventories last week, as shown by the weekly report of the U.S. Energy Information Administration (EIA) earlier today. In addition, the prospects of increases government stimulus spending in the U.S. is proving support …

Commercial crude oil inventories in the United States decreased by 6.6 million barrels last week, data showed on Wednesday. Oil stockpiles in the U.S. stood at 469.0 million barrels in the week ending February 5, according to the weekly report of the U.S. Energy Information Administration (EIA). “U.S. crude oil …