OPEC+ is reportedly poised to implement another swift increase in oil production for June, according to sources. It is anticipated that OPEC+ nations will reach a consensus on a more rapid increase in oil production for June, building on a comparable rise observed in May. This decision arises in the context of apprehensions regarding an economic Read More
Oil prices increase following China’s announcement of its willingness to engage in trade discussions with the United States. Oil prices experienced an uptick in Asian trading as China’s signals of willingness to engage in U.S. trade discussions raised optimism for potential de-escalation. Brent crude increased to $62.51 a barrel, whereas U.S. WTI crude attained $59.62. The Read More
Oil experiences a slight increase, even amid an unclear economic forecast and the possibility of an OPEC+ supply increase. Oil prices experienced a modest uptick in early trading. Nevertheless, uncertainties surrounding trade discussions between the U.S. and China persist, exerting pressure on the market. The possibility of OPEC+ potentially augmenting supply contributes to the prevailing pessimism. Read More
Oil prices experienced a slight increase in early trading on Monday; however, they continued to be hindered by uncertainty surrounding trade discussions between the U.S. and China, which are obscuring the forecast for global growth and fuel demand. Additionally, the possibility of OPEC+ increasing its supply contributed to a more pessimistic outlook. Brent crude futures Read More
Oil prices are poised to experience a weekly decline due to the prospect of increased global supply. Oil prices experienced a slight increase on Friday; however, they remained poised for a weekly decline. This situation arises as a potential increase in OPEC+ output and a possible ceasefire in the Russia-Ukraine conflict could enhance supply, while Read More
Do you recall the day when the price of a barrel of crude oil dropped below zero dollars. Five years later, prices are experiencing a downward trend once more; however, the underlying factors driving this shift differ from previous instances. Five years ago today, U.S. crude oil futures experienced an unprecedented decline, plunging below zero for Read More
Oil prices remained stable early on Wednesday, amid uncertainty stemming from changing U.S. trade policies. Market participants are closely evaluating the potential repercussions of the U.S.-China trade conflict on economic growth and energy demand. Brent crude futures experienced a modest increase of 5 cents, or 0.1%, reaching $64.72 per barrel as of 0039 GMT. Meanwhile, Read More
Saudi Arabia has reduced its oil prices for May shipments to Asia, marking a four-month low, as the OPEC+ alliance prepares for an increase in supply. Saudi Arabia, recognized as the leading oil exporter globally, announced on Sunday a significant reduction in crude oil prices for Asian buyers for May, marking the lowest prices seen in Read More
Brent crude prices have experienced a decline of over 3%, reaching their lowest point since 2021. Oil prices approached their lowest closing levels since the height of the coronavirus pandemic in 2021 on Friday, impacted by U.S. President Donald Trump’s announcement of new tariffs and increased output from the OPEC+ producer group. Brent futures experienced a significant Read More
On Thursday, eight OPEC+ nations reached an unexpected consensus to expedite their strategy for phasing out oil production cuts, opting to raise output by 411,000 barrels per day in May. This decision led to a continuation of the significant declines in oil prices observed earlier. Oil prices, having already decreased by more than 4% following Read More
