Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, while OPEC’s chief said a complaint from U.S. President Donald Trump over high prices […]
Oil prices eased on Friday as Russia hinted it may gradually raise output, after having withheld supplies in tandem with producer cartel OPEC since 2017. Brent crude futures stood at $78.63 per barrel, down 16 […]
WTI crude oil has traded at the sharpest discount to the global benchmark, Brent since 2015. Traders now wonder if OPEC now has the incentive to roll-back production curbs.
Oil prices dropped on Thursday on expectations that OPEC members will increase production in the face of worries over supply from both Venezuela and Iran. A sudden build up in crude oil inventories in the […]
Oil prices held steady on Friday on solid demand, ongoing production cuts led by producer cartel OPEC and U.S. sanctions against Iran, a major crude exporter. However, markets continued to be below multi-year highs from […]
Oil prices stood near November 2014 highs as ongoing production cuts by OPEC and impending U.S. sanctions against Iran tightened the market amid strong appetite for oil. Brent crude futures traded at $78.37 per barrel, […]
OPEC projects that U.S. drillers will attribute the majority of the growth in oil production this year but cautioned that global economic expansion picture is overcast by uncertainty, partially due to American trade policy and […]
Commodity prices fell on Friday, with crude oil and gold prices down in tandem as bets on rising lending rates undercut the appeal of non-interest-bearing and anti-fiat alternatives. The spread between two- and ten-year US […]
Crude oil prices are looking to the monthly market update from OPEC as well as EIA statistics on US drilling productivity to inform supply trend expectations.
Oil prices edged down Friday, retreating from multi-year peaks in the prior session on hopes that substitute supplies could replace an impending decline in Iranian exports from U.S. sanctions. The U.S. plans to renew sanctions […]