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Oil Prices Surge After OPEC+ Producers Announce Surprise Cuts

Oil Prices Surge After OPEC+ Producers Announce Surprise Cuts

Mon, Apr 03, 2023

Oil prices spiked Monday after OPEC+ producers unexpectedly announced that they would cut output. Which sectors, companies will benefit? Know complete details from Varun Dubey.

How latest OPEC+ move to cut oil output may impact you: Know what experts have to say

How latest OPEC+ move to cut oil output may impact you: Know what experts have to say

Mon, Apr 03, 2023

Due to the upheaval brought on by the bankruptcy of a Silicon Valley bank and the bailout of Credit Suisse AG, oil prices last month reached a 15-month low. When the financial crisis began to show signs of stabilisation, prices had regained the majority of those losses.

OPEC cuts 2022 world oil demand forecast due to Ukraine war

OPEC cuts 2022 world oil demand forecast due to Ukraine war

Tue, Apr 12, 2022

OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia`s invasion of Ukraine, rising inflation as crude prices soar and the resurgence of the Omicron coronavirus variant in China.

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Oil settles higher despite Omicron concerns

Oil settles higher despite Omicron concerns

Wed, Dec 29, 2021

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week.

Oil prices fell 2 percent after President Trump urges OPEC not to cut supply

Oil prices fell 2 percent after President Trump urges OPEC not to cut supply

Tue, Nov 13, 2018

Top crude exporter Saudi Arabia has watched with alarm how supply has started to outpace consumption, fearing a repeat of a glut that brought a price crash in 2014. Saudi Energy Minister Khalid al-Falih said on Monday the Organization of the Petroleum Exporting Countries agreed there was a need to cut oil supply next year by around 1 million barrels per day (bpd) from October levels to prevent oversupply.

Saudi, Russian oil output unable to compensate for Iranian crude: Iran Oil Minister Zanganeh

Saudi, Russian oil output unable to compensate for Iranian crude: Iran Oil Minister Zanganeh

Mon, Oct 22, 2018

Washington is pushing allies to cut imports of Iranian oil to zero and will impose a new round of sanctions on Iranian oil sales in November.

OPEC chatroom dead as Qatar crisis hurts Gulf oil cooperation

OPEC chatroom dead as Qatar crisis hurts Gulf oil cooperation

Thu, Nov 23, 2017

As a six-month-old spat between Saudi Arabia and Qatar deepens, the organisation`s Gulf ministers will have to scrap their tradition of meeting behind closed doors to agree policy before OPEC holds its twice-yearly talks.

Oil prices drop on rise in US drilling

Oil prices drop on rise in US drilling

Mon, Mar 20, 2017

US oil output has risen to over 9.1 million bpd from below 8.5 million bpd in June last year.

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