Tag Archives: WTI

A document seen by Reuters on Thursday showed that the OPEC + joint technical committee expects a deficit in the oil market in 2023 of 300,000 barrels per day. The committee, which held a meeting on Wednesday, expected demand to fall short of supply by 400,000 barrels per day this …

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, …

Three sources told Reuters on Tuesday that Iraq’s oil exports have not been affected by the current political turmoil. Baghdad is witnessing the worst fighting in years, with clashes between rival Shi’ite groups entering their second day. Two sources confirmed that supporters of Shiite cleric Muqtada al-Sadr, a former leader …

International Energy Agency Chief Fatih Birol said on Monday that Russia’s oil production hasn’t fallen as much as previously expected because it managed to find new markets outside Europe and added domestic demand remained robust, per Reuters. “Going forward, it would be difficult for Russia to maintain oil production due …

Oil prices rose 1 percent on Monday as expectations that OPEC will cut production if needed to support prices, conflict in Libya and increased demand amid rising natural gas prices in Europe helped offset bleak growth prospects in the United States. The US light NYMEX crude rose during these moments …

Oil prices closed higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings from the head of the US Federal Reserve about economic pain ahead.Brent crude futures rose $1.65 to settle at $100.99 a …

After fluctuating in a choppy trading session on Wednesday, West Texas Intermediate rose 1.2% to settle near $95 per barrel. The Energy Information Administration data showed that US crude stockpiles fell amid record petroleum exports. Meanwhile, the US sent its response to the EU’s latest proposal to rescue the 2015 …

A spokesperson for Iran’s Foreign Ministry said on Wednesday that Iran has received the United States’ response to the draft agreement proposed by the European Union.The Iranian official has also said Tehran has started assessing the US comments on the draft deal. With the initial market reaction to this headline, …

Analysts have warned that failure to reach a deal concerning crude oil output would mean that oil will continue to act as a runaway train, as even slowing demand growth would still also continue to squeeze the world’s spare capacity. Oil prices rallied on Tuesday while Saudi Arabia is warning …

Citing nine OPEC sources familiar with the matter, Reuters reported on Tuesday that OPEC and its allies, the group known as OPEC+, may lean towards oil output cuts when and if Iranian production returns depending on the revival of the nuclear deal.On Monday, Saudi Arabia’s energy minister told Bloomberg that …