Oil up Over 2% as Market Buys Into OPEC Output Hike Plan 

© Reuters. By Barani Krishnan Investing.com — Crude prices swung from green to red and back on Thursday before settling up more than 2% as traders bought into OPEC+’s assurances that the global oil producing alliance could manage with higher output from May, despite questionable demand. London-traded , the global benchmark for crude, settled up […]

Continue Reading

Oil drops as Suez opens, focus turns to OPEC+ output cuts

© Reuters. Views of Total Grandpuits oil refinery By Aaron Sheldrick TOKYO (Reuters) -Oil prices fell on Tuesday as the Suez Canal opened up after days closed by a grounded supercarrier and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic […]

Continue Reading

Oil hits almost 14-month high after OPEC+ extends output cuts

© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing By Noah Browning LONDON (Reuters) – Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase supply in April as they await […]

Continue Reading

OPEC+ debates whether to raise or freeze oil output as price recovers

© Reuters. FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members in Algiers, Algeria By Rania El Gamal and Olesya Astakhova DUBAI/MOSCOW (Reuters) – OPEC, Russia and other oil producers meet on Thursday to decide whether to keep April output steady or increase it as they weigh a recent price rally […]

Continue Reading

Oil up as OPEC+ considers rollover rather than raising output

2/2 © Reuters. Views of Total Grandpuits oil refinery 2/2 By Bozorgmehr Sharafedin LONDON (Reuters) – Oil prices rose on Wednesday, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support. was up […]

Continue Reading

Oil hovers near 13-month highs as storm hits U.S. output, Fed assures rates staying low

© Reuters. The Bryan Mound Strategic Petroleum Reserve is seen in an aerial photograph over Freeport, Texas By Julia Payne LONDON (Reuters) – Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and […]

Continue Reading

Oil rises on positive forecasts, slow U.S. output restart

© Reuters. FILE PHOTO: An employee holds a sample of crude oil at the Irkutsk Oil Co-owned Yarakta field in the Irkutsk region By Bozorgmehr Sharafedin LONDON (Reuters) – Oil prices rose on Tuesday, underpinned by the likely easing of COVID-19 lockdowns around the world, positive economic forecasts and lower output as U.S. supplies were […]

Continue Reading

OPEC crude output cuts should help U.S. shale profits in 2021

© Reuters. By Jennifer Hiller HOUSTON (Reuters) – A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer. oil production has fallen […]

Continue Reading

Oil prices tick up on OPEC studying output cut, Iran tensions

© Reuters. FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub By Shadia Nasralla LONDON (Reuters) – Oil prices inched up on Tuesday as tension around Iran’s seizure of a South Korean vessel simmered and after it emerged that the OPEC+ group is studying a possible production […]

Continue Reading