Tag: Oil price
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Eyeing competitors, OPEC+ countries will keep cutting oil production
Several OPEC+ countries are extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting what they are labeling "the stability and...
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Don’t roll out the barrels: Oil prices fall in view of slow recovery
Oil prices were down on April 24 as traders believe economic recovery will be slower than expected hurting global oil demand. A decision by...
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Impact of high energy prices on industry in the East Med region
Europe is still roiling under the impact of high energy prices that do not seem to be going away any time soon. Dutch hub...
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Oil prices fall on signals Fed will start tapering stimulus measures
Oil prices fell to three-month lows this week due to the signal from the Federal Reserve that it will start tapering stimulus measures and...
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US sanctions against Russia less damaging that had been expected
The sanctions announced last week were milder than had been expected, with the exception of the ban on US investors buying Russian state issued...
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OPEC+ allows Kazakhstan to increase oil production in February and March
NUR-SULTAN, Kazakhstan - OPEC+ countries reached agreement on the terms of the deal for February and March. Russia and Kazakhstan, which has raised the...
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Crude oil price rally may face supply side pressure in early 2021
Oil traders are optimistic the start of the deployment of vaccines means that an end to the worst economic ravages of the COVID-19 pandemic...
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Oil price reaches 3-month high as 2019 nears end
Hopes for a US-China trade deal and an American Petroleum Institute (API) report showing lower US crude inventories pushed oil prices about 1% to...
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OPEC+ becomes OPEC- with oil production cuts
The Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia, a group known as OPEC+, have reportedly agreed to...
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Drone strikes on Saudi oil fields spike prices
Geopolitical tensions and fears of longer-than-expected supply shortfalls led to Brent crude oil prices rising more than 1% on 19 September following the drone...
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