Tag: crude oil
Oil has been buoyed by shrinking US crude stockpiles and rising tensions in the Middle East,
May was the first full month of compliance by Russia this year, producing 76,000 barrels a day below the cap for the nation set under the OPEC+ deal.
Bolton says evidence that Iran was behind the attacks would be presented to the United Nations Security Council next week.
LONDON: Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by...
Crude futures in New York fell as much as 1% after closing up 1.2% on Wednesday following a surprise drop in US oil inventories.
"With OPEC keen to avoid last year’s mistakes where they pre-emptively raised supply, buyers will need to pay up before producers raise output.'
'US sanctions on Iran is a double whammy for India after the Venezuelan sanctions.'
The US is ending waivers that allowed a few countries including Turkey to continue importing oil from sanctioned Iran.
Rising oil prices will hurt household income and spending and it could accelerate inflation.
Despite warnings of crude oil's carcinogenic properties, people with ailments still flock to Azerbaijan to immerse themselves in oil for supposed health benefits.
US crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels.
The world’s refineries will need to process about 700,000 barrels a day more oil by next year directly as a result of a rule to cut the maritime industry’s sulphur emissions.
Bursa Malaysia is expected to trade higher next week, with the strengthening of the Ringgit, while global crude oil is currently trading at above US$69 per barrel.
It’s the second time this year he has urged the cartel to backtrack on its current policy of cutting production.
New technology allowing oil and gas extraction from shale rock formations has led to a boom in oil production in the US in recent years.
Oil has surged more than 20% this year as Opec and its allies restrain output in a bid to balance the market.
US President Donald Trump and Chinese President Xi Jinping could reach a formal trade deal at a summit around March 27 given progress in talks between the 2 countries.
The Indonesian oil corporation wants to process crude produced from its Malaysian fields and from Iraq.
US crude output has set record highs for 2 straight weeks, hitting 12.1 million bpd last week.
Traders will be looking for any signs that the progress on trade expressed by the worlds two biggest economies is warranted enough to build on a global rally in equities.
Oil price has risen by 20% so far this year, yet most of that increase came in early January.
International Brent crude oil futures are 6 cents below their last close, at US$61.26 per barrel.
High supply and an economic slowdown are weighing on the oil price outlook.
The slowdown in growth in China has also clouded the outlook..