Oil

The UAE took oil market watchers by surprise this month when it dug its heels in and refused to agree to an extension of the current OPEC+ production control deal under its original terms. The emirates demanded an adjustment of baseline production levels, noting that November 2018 was hardly reflective …

Oil prices rose for a second day on Friday as the market reacted to falling US inventories. Signs of strong Asian demand from both China and India also strengthened the market. Brent crude oil futures were up $1.49, or 2%, at $75.60 a barrel by 1:12 p.m. ET (1712 GMT). …

Oil prices rose on Friday over rising demand euphoria after US crude and gasoline oil inventories recorded huge falls although the lack of consensus at the latest OPEC+ meeting is leaving oil markets without direction. International benchmark Brent crude was trading at $74.48 per barrel at 0752 GMT for a …

Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were headed for a weekly loss amid uncertainty about global supplies fuelled by an OPEC+ impasse. Brent crude oil futures were up 27 cents, or 0.4%, at $74.39 a barrel by 0644 …

Oil prices steadied on Wednesday after a steep drop in the previous session, after the cancellation of talks among OPEC+ producers that raised the prospect that the world’s major crude exporters will turn on the taps to gain market share. Brent crude was up 3c at $74.56 a barrel by …

Oil prices were little changed and trading only slightly down early on Monday while the market is waiting for the OPEC+ group to begin a third day of meetings to try to reach a consensus about oil production levels in the coming months. As of 10:15 a.m. EDT on Monday, …

Oil prices are balancing above $75 a barrel after the Organization of the Petroleum Exporting Countries (OPEC) and partners failed to agree on output policy. If the group fails to boost production, crude prices could surge. Crude prices retreated slightly on Monday, with Brent futures down 0.11% to $76.09 a …

Oil prices fell on Monday, with Brent dropping after four days of gains, as investors and traders awaited crucial talks by OPEC+ after disagreement within the group that could lead to major producers pumping up volumes to grab market share. Brent crude was down by 40c, or 0.5%, at $75.77 …

Crude oil prices notched a sixth-weekly win Friday despite a sluggish end to the week as major oil producers attempt to reach a consensus on plans to ease production curbs. On the New York Mercantile Exchange crude futures rose 7 cents to $75.16 a barrel, while on London’s Intercontinental Exchange, …

The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an internal report of an OPEC+ panel it had seen. “In 2022, a significant increase is seen, leading to an overhang of …