Tag Archives: voluntary cuts

Oil prices continued their descent in Asian trading on Wednesday, extending losses from the previous session where they fell over three percent to their lowest levels in six months. The decline is attributed to concerns about demand and excess supply in the market. As of 0621 GMT, Brent crude futures …

Oil prices rose on Tuesday after a Houthi attack on a chemical tanker heightened geopolitical tensions in the Middle East, but fears of slowing demand growth and excess supplies undermined gains. A cruise missile launched from Yemen hit a commercial tanker, causing fire and damage, but no casualties. By 0915 …

Oil prices rose on Tuesday as investors remained cautious ahead of important decisions on interest rates and the release of inflation data, but concerns about oversupply and slowing demand growth undermined the gains. By 0342 GMT, Brent crude futures for February delivery rose 26 cents, or 0.3 percent, to $76.29 …

Oil prices rose on Monday, extending their gains for a second session as the United States sought to revive its strategic reserves, which provided some support, despite continuing fears of a glut in crude supply and weak growth in fuel demand next year. By 0119 GMT, Brent crude futures rose …

As voluntary production cuts are demanded by Russia and Saudi Arabia, oil traders are expecting a recovery in the oil market. Due to gloomy weather forecasts, natural gas is trading below $2.60, while WTI oil has pared some of its weekly losses and is moving closer to $71.50. As of …