Tag Archives: opec

OPEC+ key ministers, known as the joint ministerial monitoring committee, has agreed on oil production cuts of 2 million barrels per day, three OPEC+ sources said according to Reuters.

Brent crude futures briefly consolidated above the $86 per barrel mark, before the price fell to around $85. At the time of writing, Brent is trading at $85.25 versus Monday’s opening price at $86.11 after departing the eight-month low of $84.6, supported by concerns about further supply disruptions, particularly those …

Oil prices have advanced slightly amid higher volatile trading on Monday, as worries of tight supplies outweighed fears of global economic slowdown and likely large increases to interest rates.Brent crude for November rose 65 cents, or 0.7%, to $90.6 a barrel, while US West Texas Intermediate (WTI) for October was …

Oil prices have advanced slightly amid higher volatile trading on Monday, as worries of tight supplies outweighed fears of global economic slowdown and likely large increases to interest rates.Brent crude for November rose 65 cents, or 0.7%, to $90.6 a barrel, while US West Texas Intermediate (WTI) for October was …

WTI crude oil price is down for the second successive day. At the time of writing, the American crude is trading between $90.35 and $90.45 per barrel.Earlier on the day, crude price probed below $90 per barrel. Observers and economists cite pressures by accelerating concerns about the global economy’s slowdown, …

Oil prices rose on Thursday on mounting concerns over supply shortages amid disruptions to Russian exports, possible production cuts by major oil producers and the partial shutdown of a refinery in the United States. By 0630 GMT, Brent crude rose 45 cents, or 0.4 percent, to $101.67 a barrel, while …

Brent crude rose above $100 per barrel on Wednesday after Saudi Arabia indicated earlier this week that OPEC might consider cutting production in response to poor liquidity in the oil futures market. Global crude oil benchmarks were up on Wednesday, with Brent oil futures for October delivery gaining 1.03% to …

Oil prices fell on Wednesday, after rising nearly 4 percent the previous day, due to easing fears that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, in the OPEC+ grouping, will soon cut production. Global benchmark Brent crude futures fell 40 cents, or 0.4 percent, to $99.82 …

The WTI crude oil recovered from reaching a daily low of around $86.29 and finished up 0.80%. US Department of State noted that a nuclear deal with Iran is closer, a headwind for oil prices. Oil traders are worried about a possible US recession and China’s economic slowdown.Western Texas Intermediate …

Saudi Arabia’s energy minister said, on Monday, that OPEC+ has the means to deal with market challenges including cutting production at any time, in different forms.“Oil market has fallen into a self-perpetuating vicious circle of very thin liquidity, extreme volatility undermining market’s essential function of efficient price discovery,” the minister …