As OPEC+ debated whether to keep oil output steady due to weak global demand or pump more in response to internal
OPEC+ has decided to proceed with a planned April oil output increase, the group said on Monday, a move that follows U.S.
OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global
U.S.
OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential
OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government's Energy
The International Energy Agency (IEA) on Friday said demand growth for oil next year will be slower than previously forecast, citing lacklustre macroeconomic conditions, a post-pandemic recovery running out of steam and the burgeoning use of electric vehicles. Growth is forecast to slow to 1 million barrels per day (bpd) in 2024, the Paris-based energy watchdog said in its August monthly oil market report, down by 150,000 bpd from its previous forecast. “The global economic outlook remains challenging in the face of soaring interest rates and tighter bank credit, squeezing businesses that
The International Energy Agency (IEA) on Friday said demand growth for oil next year will be slower than previously forecast, citing lacklustre macroeconomic conditions, a post-pandemic recovery running out of steam and the burgeoning use of electric vehicles. Growth is forecast to slow to 1 million barrels per day (bpd) in 2024, the Paris-based energy watchdog said in its August monthly oil market report, down by 150,000 bpd from its previous forecast. “The global economic outlook remains challenging in the face of soaring interest rates and tighter bank credit, squeezing businesses that
– The International Energy Agency (IEA) on Friday said OPEC+ supply cuts could erode inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024. Tighter supply driven by OPEC+ oil output cuts and rising global demand has underpinned a rally in oil prices, with Brent crude hitting highs of over $88 a barrel on Thursday, the highest since January. The IEA said if OPEC+ current targets are maintained, oil inventories could draw by 2.2 million barrels per day (bpd) in the
OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday. Tighter supply driven by oil output cuts from OPEC and its allies, together known as OPEC+, and rising global demand have underpinned a rally in oil prices, with Brent crude hitting highs of over $88 a barrel on Thursday, the highest since January. The IEA said if OPEC+ current targets are maintained, oil inventories could draw by
Oil was little changed on Monday after China took steps to bolster its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen demand. China halved stamp duty on stock trading in its latest attempt to boost struggling markets. The market is also keeping an eye on Tropical Storm Idalia and any risk it poses to oil and gas output in the U.S. Gulf. Brent crude slipped 15 cents, or 0.2%, to $84.33 a barrel by 1045 GMT, with an earlier rally fizzling
Oil slipped more than 1% on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week's
OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources told
Saudi Arabia, Russia and other members of OPEC are scheduled to meet online on Thursday and could make further changes to an agreement that already limits supply into
OPEC+ is still negotiating ahead of an oil policy meeting on Thursday, sources said on Monday, a gathering analysts expect and some OPEC+ sources
Oil prices extended declines on Monday, pressured by investor scepticism over the latest OPEC+ decision on supply cuts and uncertainty surrounding global fuel demand,
Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle
Oil rose more than 1% on Monday as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruptions, although ample supply and scepticism
Oil was little changed on Friday and heading for a weekly gain, as Middle East tensions and oil output disruptions caused by cold weather in the U.S., the world's
Commodities pricing agency Platts said on Monday its addition of U.S.
Oil prices settled higher on Thursday on worries of supply disruptions in Middle East supply as Israel stepped up airstrikes on Gaza's Rafah and on the U.S.
Oil prices fell about 3% to a seven-week low on Wednesday on a surprise build in U.S. crude stocks, the prospect of a Middle East ceasefire agreement and as hopes
OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but
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