Oil declines after OPEC+ agrees to boost production into 2022
NEW YORK (BLOOMBERG) – Oil eased after OPEC+ agreed to boost production into 2022, resolving an internal dispute that had shaken the alliance. Brent crude declined 0.5 per cent after […]
Oil slides 2% on oversupply fears after Opec+ wrangles an agreement
NEW YORK (REUTERS) – Oil prices dropped more than 2 per cent on Wednesday (July 14) after major global oil producers came to a compromise about supply and after United […]
Opec+ in crisis as spectre of destructive infighting looms again
LONDON (BLOOMBERG) – Opec+ was plunged into crisis as a worsening fight between Saudi Arabia and the United Arab Emirates blocked an oil-supply increase. What happens next will determine whether […]
Brent oil jumps past US$77 after Opec+ calls off output talks
LONDON (BLOOMBERG, REUTERS) – Brent oil rose above US$77 a barrel for the first time since 2018 after Opec+ nations called off talks on output levels, leaving the market with […]
Oil holds gain as OPEC+ tension builds before talks resume
SINGAPORE (BLOOMBERG) – Brent oil held gains near US$76 a barrel ahead of another round of critical Opec+ talks to break a stalemate over raising production, with tension rising over […]
Oil hits over 1-year high on Opec+ supply discipline, demand prospects
NEW YORK (REUTERS) – Oil prices surged on Wednesday (June 2), hitting their highest in more than a year from a decision by Opec and allies to stick to the […]
Saudi vows extra cuts as Opec+ agrees small rise in oil output
MOSCOW/LONDON/DUBAI (REUTERS) – Saudi Arabia pledged additional, voluntary oil output cuts of one million barrels per day (bpd) in February and March as part of a deal under which most […]
Opec+ warns of risk to oil recovery from resurgent Covid-19 pandemic
LONDON (BLOOMBERG) – Opec warned of risks to the oil market from the resurgent pandemic, a day before the group and its allies meet to consider another increase in production. […]
Opec+ meeting to decide output level, maintain market influence
LONDON • Members of the Organisation of the Petroleum Exporting Countries (Opec) and their partners will hold a video conference tomorrow to decide on production levels for next month, hoping […]
Oil soars 8% on promising Covid-19 vaccine results
NEW YORK (REUTERS) – Oil surged about 8 per cent on Monday (Nov 9), putting it on track for its biggest daily gain in more than six months after Pfizer […]