Tag Archives: OPEC+

The US Crude Oil benchmark, WTI, has extended its losses for four consecutive days due to factors such as the Greenback’s recovery and demand concerns countering supply worries. The benchmark is trading at $72.72 per barrel, down 0.41%. In the latest OPEC+ meeting, members agreed to output cuts of 2.2 …

Oil prices witnessed little change on Tuesday amid uncertainty over the OPEC+ alliance’s voluntary production cuts, continued tension in the Middle East, and weak economic data from the United States. By 0402 GMT, Brent oil futures fell one cent to $78.02 a barrel, while US West Texas Intermediate crude futures …

Oil prices fell on Monday due to traders’ wait-and-see attitude towards OPEC and its allies’ plans to cut production in the first quarter of 2024. Fears of a drop in demand also put pressure on prices. Brent crude futures settled down 85 cents or 1.08% at $78.03 a barrel, while …

Gold prices surged to a six-month high in current trading, driven by the decline of the US dollar and the belief that the Fed is ending its interest rate hike cycle, contributing to the positive momentum in the precious metal.Gold’s PerformanceGold prices surged to a new multi-month high of $2060.62 …

The OPEC+ coalition, led by Saudi Arabia and Russia, has announced plans for a 1 million barrel cut to daily production, along with an extension of an earlier cut of equal size.Oil prices fell after rising by over 1% earlier in the session after OPEC+ oil producers agreed to voluntary …

Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in US crude, gasoline and distillate stockpiles. Brent crude futures were up $1.01, or 1.2%, to $82.69 a barrel by 1:34 p.m. ET …

OPEC+ analysts and sources have indicated that the group, consisting of OPEC members such as Saudi Arabia and allied countries like Russia, will hold an online meeting on Thursday. During this meeting, further adjustments to the existing agreement, which has already curtailed oil supplies until 2024, might be considered to …

Oil prices fell by about one percent on Wednesday in a volatile session, with the OPEC+ alliance suddenly postponed a meeting to determine production policy that was scheduled to be held next Sunday, raising questions about the future path of crude production cuts. Brent crude futures fell 49 cents to …

WTI crude oil has risen over 2% and is currently trading at $77.53, after hitting a daily low of $75.49. Oil prices are influenced by the weak dollar and geopolitical tensions. The Organization of Petroleum Exporting Countries and its allies (OPEC+) are considering additional supply cuts when the cartel meets …

Oil futures rose on Monday, continuing their gains based on expectations that the OPEC+ group will reduce supplies further to support prices that have been declining for four weeks due to waning fears of disruption to Middle East supplies due to the war between Israel and the Palestinian Hamas movement. …