Tag Archives: opec

Oil prices extended their losses on Tuesday, with investors anticipating persistent U.S. inflation to maintain high interest rates, thereby dampening consumer and industrial demand. Brent crude futures declined by 64 cents, or 0.7%, to $83.07 a barrel by 0845 GMT. Concurrently, U.S. West Texas Intermediate (WTI) crude dropped by 64 …

Oil prices are 0.25% down, sliding below $78.00 after both OPEC and the International Energy Administration (IEA) released their monthly reports. OPEC stuck to previous expectations, while sluggish demand is forecasted in the IEA release. The US Dollar Index eases ahead of the US CPI print, with markets expecting a …

According to a recent Reuters poll of 100 economists, the majority now anticipates that the U.S. Federal Reserve will hold off on cutting its key interest rate until September. This contrasts with earlier expectations of a June rate cut and subsequent cuts throughout the year. Half of the economists surveyed …

On Monday, oil prices stabilized near their highest levels in five months, buoyed by various factors including expectations of declining supplies due to OPEC+ production cuts, attacks on Russian refineries, and robust data from the Chinese manufacturing sector indicating improved demand. As of 1115 GMT, Brent crude prices dipped by …

On Monday, oil prices continued their upward trajectory, building on recent gains amid various factors including anticipated declines in supplies due to OPEC+ production cuts, attacks on Russian refineries, and positive data from the Chinese manufacturing sector, signaling improved demand. As of 0331 GMT, Brent crude prices climbed by 29 …

Oil prices regained ground on Thursday, reversing two consecutive sessions of decline, as investors anticipated tighter supplies amid expectations that the OPEC+ producer alliance would continue with its current production cuts. Brent crude futures for May climbed $1.23, or 1.4%, to reach $87.32 a barrel, while the June contract rose …

Oil prices regained ground on Thursday, rebounding from losses incurred over the past two sessions, as market participants took a second look at the latest US crude oil and gasoline inventory reports. The reevaluation comes amid ongoing geopolitical tensions and shifting sentiments regarding global supply and demand dynamics. Brent Crude …

Oil prices experienced a second consecutive day of decline on Wednesday, as concerns over increasing crude inventories in the United States and uncertainties regarding production policy among major producers weighed on market sentiment. Here are the key highlights from today’s oil market movements: Brent crude futures for May delivery fell …

Oil prices showed little change on Tuesday following a rise in the previous session, as investors weighed mixed expectations amidst Russia’s supply cuts in response to recent Ukrainian attacks on Russian refineries. However, a slight decline in the dollar provided some support to the market. In Monday’s session, Brent crude …

Official delegates said on Monday that OPEC as well as the larger OPEC+ see no need to adjust or suggest a change of the oil production policy that is currently in place during the looming the Joint Ministerial Monitoring Committee meeting for March. OPEC and allies chose to voluntarily decrease …