oil prices

The Latest

  • Behind the Surge: How One Oil Company is Driving U.S. Oil Prices Up
    OIL
    Recently, U.S. oil prices have been on a steady climb, raising fresh concerns about escalating inflation in the market.
  • Saudi Arabia Focuses on Market Stability Over Oil Price Targets: Monthly Production Reviews in Place
    Crude oil
    On Monday, Saudi Energy Minister Abdulaziz bin Salman, while attending the 24th Global Oil Conference in Calgary, stated that OPEC's primary goal is to maintain stability in the oil market and enhance global energy security, rather than setting specific crude oil price targets. He emphasized the global need to focus on energy security, with the main priority being market stability. He mentioned that the International Energy Agency's (IEA) warnings have not come to fruition.
  • Oil Prices Surge: U.S. Crude Breaks $90 for First Time Since Last November
    OIL
    In the wake of Saudi Arabia's announcement last week to extend its voluntary oil production cut of 1 million barrels per day until the end of December, and Russia's decision to prolong its export cut of 300,000 barrels per day for the same period, oil prices have seen a fresh surge.
  • Soaring Oil Prices: Saudi Arabia Puts the Squeeze on the Fed and Global Markets
    Crude Oil
    The surging oil prices could intensify inflationary pressures in European and American countries, leading to market speculations that Western central banks might maintain higher interest rates for an extended period.
  • IEA Cuts Next Year's Oil Demand Forecast; OPEC+ Cuts May Further Drive Prices Up
    OIL
    The International Energy Agency (IEA) mentioned in its oil market report released on Friday that next year's oil demand growth is expected to decelerate more than previously forecasted, citing economic challenges, slower-than-anticipated economic recovery, and the rapid growth of the electric vehicle sector.
  • OPEC Optimistic on Oil Demand Growth; Foresees Q3 Supply Shortfall of 2.2M Barrels Daily
    OPEC
    OPEC's latest monthly report remains upbeat about the rise in global oil demand for the next two years. It highlighted that Saudi Arabia, the world's largest oil exporter, voluntarily cut production by 1 million barrels per day from July to September, leading to the most significant drop in oil inventories in two years.
  • Oil Prices on the Rise! Reports Indicate Saudi Arabia May Extend 1 Million Barrel Cut Until September
    Occidental Petroleum Corp
    OPEC+ main member countries are set to hold their bi-monthly meeting at 2 p.m. in Vienna to evaluate the state of the global oil market. Concurrently, Saudi Arabia will consider whether to continue its unilateral production cuts.
  • Goldman Sachs Bullish on Oil: Market Optimism Could Push Prices Up by 16%
    OIL PRICE HIKE
    Goldman Sachs, a significant player in commodity markets, suggests that the steady global economic growth, coupled with ongoing production cuts from OPEC+, could lead to a supply deficit in the oil market for the latter half of the year, consequently boosting oil prices.
  • Record Outflows from Crude Oil ETFs as Oil Price Surges Past $80
    Oil
    As oil prices surge past $80, investors in oil ETFs are cashing in and pulling out.
  • U.S. Inflation Concerns Grow: Oil Nears April High, Gasoline Hits Eight-Month Peak, Wall Street Bullish on Energy
    HIGHER PRICES
    Oil prices continued their strong performance on Thursday due to the restricted supply caused by OPEC+'s production cuts and an optimistic outlook on China's demand and global growth prospects.
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