Tag Archives: opec

A report from the OPEC + group seen by Reuters showed that the production of the alliance of oil producers was less than production targets in March by 1.45 million barrels per day, with the beginning of a decline in Russia’s production after the sanctions imposed by the West. The …

The WTI crude oil is expected to end lower for a second successive week. Meanwhile, traders digest this week’s IEA reserve release announcements.The WTI crude oil currently trades a little bit lower on the day around $96.00 after hitting March lows on Thursday. Technical selling after breaking below a long-term …

West Texas Intermediate (WTI) crude oil rose on Monday on persisting supply concerns as Russian energy sanctions are very much on the table following the Russian forces’ civilian killings in north Ukraine. For a fresh high of the day, at $103.82. WTI spot is up by some 4.5% as White …

WTI crude has advanced towards $106.40 but is likely to remain lackluster as investors are keeping eye on the outcome of the OPEC meeting, which is due on Thursday. The agenda of the OPEC meeting is likely to revolve around the elevation of the oil supply to contain the prohibited …

On Tuesday, the energy ministers of Saudi Arabia and the United Arab Emirates, two of the world’s largest energy producers, said that the two countries had done their part in balancing the oil market. “We have only one task: to stabilize the market. Therefore, we cannot politicize the organization or …

The UAE Energy Minister, Suhail Al Mazrouei, said today, Monday, that the UAE will work with OPEC + to ensure the stability of the energy market, according to what was reported by Reuters. He added in an energy forum that the UAE is trying its best and raising its production …

The US Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The USD was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday.Economic DataWTI crude has climbed near USD 102.00 as IEA renewed fears of supply …

WTI crude has climbed near USD 102.00 as IEA renewed fears of supply shortage. The expectation of supply shortage from Russia has already been discounted by investors. The OPEC’s positive response to the urge of US President Joe Biden will fix the demand-supply gap.West Texas Intermediate (WTI), futures on NYMEX, …

Russia ranks number one, two and three, among the world’s exporters of natural gas, oil and coal, respectively. Europe gets most of its energy needs from Russia. Russia also accounts for half of US uranium imports. It supplies a tenth of the world’s aluminium and copper, and a fifth of …

After a historically volatile week, WTI is more subdued on Friday, remaining capped under $110 but supported above $104. WTI is on course for a weekly drop of over $7.0, which would be its worst one-week performance since November.Global oil markets look set to end a historic week of energy-related …