Sun, Jun 02, 2024
The full OPEC+ alliance, made up of members of the producers cartel and allied countries, including Russia, is holding an online meeting, but the cuts in question concern a smaller group of eight, including the Saudis.
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Fri, Feb 09, 2024
Damage to refineries from drone attacks and technical outages led Russia to export more crude than it planned in February, potentially undermining its pledge to curb sales under an OPEC+ pact.
Sat, Nov 11, 2023
Oil prices gained about 2% as Iraq voiced support for OPEC+'s oil cuts ahead of a meeting in two weeks and as some speculators covered massive short positions ahead of weekend uncertainty.
Tue, Nov 07, 2023
The United States is doing well, while Europe is struggling, Haitham Al Ghais told the Argus European Crude Conference in London. Even China, which has emerged from lockdown more slowly than expected, forecasts growth at 4.5% to 5%, he said, outstripping Europe.
Mon, Aug 21, 2023
The September WTI contract expires on Tuesday and the more active October contract eased 3 cents to $80.63 a barrel.
Mon, Jun 05, 2023
There has been a sharp jump in the prices of Crude Oil Price in the international oil market once again, because in the meeting of OPEC+ Organization of Petroleum Exporting Countries, Saudi Arabia has said that it will cut oil production by one million barrels per day in July. will do Due to which its oil production will reach the lowest levels in the last several years. OPEC+ countries control 40% of the world's crude oil. The effect of this decision is being seen in crude oil prices
Mon, Apr 03, 2023
Not just Saudis, Russian Deputy Prime Minister Alexander Novak also announced the country's decision to reduce oil production by half a million barrels per day until the end of the year.
Wed, Nov 30, 2022
Oil steadied on Tuesday as gains on hopes for a loosening of China's strict COVID-19 controls were later offset by concerns that OPEC+ would keep its output unchanged at its upcoming meeting.
Wed, Oct 19, 2022
The White House press secretary said President Joe Biden is going to re-evaluate his relationship with Saudi Arabia.
Fri, Oct 14, 2022
The IEA slashed its forecast for world oil demand growth next year by more than 20 per cent, citing further downgrades to global growth expectations from major institutions.
Thu, Oct 13, 2022
US National Security Advisor Jake Sullivan told reporters separately that the President was clear a day earlier that the US is re-evaluating the relationship with Saudi Arabia.
Thu, Oct 06, 2022
OPEC+`s meeting on Oct 5 marked the group`s first in-person gathering at the ministerial level since March 2020, when COVID-19 restrictions moved the meeting online.
The Fed and other central banks have been raising interest rates to make borrowing more difficult and slow economic growth, but Wall Street is concerned that the potential solution for high inflation could result in a recession.
Tue, Sep 06, 2022
OPEC+ has stuck with only cautious increases to make up for deep cuts made during the COVID-19 pandemic, which were finally restored in August.
Sat, Aug 06, 2022
Oil traders this week have fretted about inflation, economic growth and demand, but signs of tight supply kept a floor under prices.
Thu, Aug 04, 2022
Brent crude futures settled down $3.76, or 3.7%, at $96.78 a barrel.
Fri, Jun 24, 2022
Powell said the Fed`s focus on curbing inflation was "unconditional" and the labor market was unsustainably strong, comments that stoked fears of more rate hikes.
Sat, Nov 06, 2021
The group has been restricting supply after the COVID-19 pandemic led to evaporation of demand.
Tue, Oct 05, 2021
Brent crude oil futures hit a fresh three-year high on Tuesday, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ group of producers decided to stick to its planned output rises rather pumping even more.
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