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Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
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War Of Words That Rocked US-Saudi Rapport Cools As Oil Steadies
The US and Saudi Arabia are looking beyond last year's oil spat to focus on billions of dollars-worth of defense and aviation deals and potential nuclear cooperation.
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Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
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Nirmala Sitharaman Speaks On Adani Row, Jobs, Oil And Crypto
Finance Minister Nirmala Sitharaman said India could buy Russian crude oil near or past the price cap imposed by the G-7 if the recent OPEC+ output cut increases energy costs.
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Russia To Slash Crude Oil Output By 5% Over West's Price Cap
Russia will slash its crude oil output by five percent next month, Deputy Prime Minister Alexander Novak announced Friday, in response to a price cap imposed by Western countries.
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Why Saudi Arabia Rebuffed Biden's Pleas for More Oil
The US has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation.
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Oil Slides 2% On Rising U.S. Fuel Stocks And Output
Oil prices slid about 2% on Wednesday as a rise in U.S. gasoline and distillate inventories and worries about slower economic growth around the world offset ongoing concerns about tight crude supplies.
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Oil Falls 3% On Uncertainty Over Future OPEC+Output, Recession Fears
The OPEC+ group of producers, including Russia, on Thursday agreed to stick to its output strategy after two days of meetings. The producer club avoided discussing policy from September onwards.
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Indian Refiners' June Crude Processing Stays Robust, Output Slips
India refiners' crude processing remained resilient in June, holding above pre-pandemic levels amid steady demand, while production eased with the increased availability of cheaper Russian crude, government data showed on Friday.
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U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
The United States does not expect Saudi Arabia to immediately boost oil output and awaits the outcome of an OPEC+ meeting on Aug. 3.
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Oil Rises 2% As No Immediate Saudi Output Boost Expected
Oil gained 2.5% after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.
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S-Oil's Gasoline Output Hit After Refinery Blast Kills One
South Korea's third largest refiner, S-Oil Corp, has suspended production of several processing units after a blast at its Onsan refinery.
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Oil Settles Up Despite OPEC+ Output Hike Plan; Supply Still Tight
OPEC+ agreed to boost output by 648,000 barrels per day (bpd) a month in July and August
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Oil Falls 2.5% As U.S. Refiners Ramp Up Output, Equities Retreat
Oil prices fell 2.5% on Wednesday, reversing early gains as traders grew less worried about a supply crunch after government data showed U.S. refiners ramped up output, and as crude futures followed Wall Street lower.
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Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
-
Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
-
War Of Words That Rocked US-Saudi Rapport Cools As Oil Steadies
The US and Saudi Arabia are looking beyond last year's oil spat to focus on billions of dollars-worth of defense and aviation deals and potential nuclear cooperation.
-
Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
-
Nirmala Sitharaman Speaks On Adani Row, Jobs, Oil And Crypto
Finance Minister Nirmala Sitharaman said India could buy Russian crude oil near or past the price cap imposed by the G-7 if the recent OPEC+ output cut increases energy costs.
-
Russia To Slash Crude Oil Output By 5% Over West's Price Cap
Russia will slash its crude oil output by five percent next month, Deputy Prime Minister Alexander Novak announced Friday, in response to a price cap imposed by Western countries.
-
Why Saudi Arabia Rebuffed Biden's Pleas for More Oil
The US has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation.
-
Oil Slides 2% On Rising U.S. Fuel Stocks And Output
Oil prices slid about 2% on Wednesday as a rise in U.S. gasoline and distillate inventories and worries about slower economic growth around the world offset ongoing concerns about tight crude supplies.
-
Oil Falls 3% On Uncertainty Over Future OPEC+Output, Recession Fears
The OPEC+ group of producers, including Russia, on Thursday agreed to stick to its output strategy after two days of meetings. The producer club avoided discussing policy from September onwards.
-
Indian Refiners' June Crude Processing Stays Robust, Output Slips
India refiners' crude processing remained resilient in June, holding above pre-pandemic levels amid steady demand, while production eased with the increased availability of cheaper Russian crude, government data showed on Friday.
-
U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
The United States does not expect Saudi Arabia to immediately boost oil output and awaits the outcome of an OPEC+ meeting on Aug. 3.
-
Oil Rises 2% As No Immediate Saudi Output Boost Expected
Oil gained 2.5% after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.
-
S-Oil's Gasoline Output Hit After Refinery Blast Kills One
South Korea's third largest refiner, S-Oil Corp, has suspended production of several processing units after a blast at its Onsan refinery.
-
Oil Settles Up Despite OPEC+ Output Hike Plan; Supply Still Tight
OPEC+ agreed to boost output by 648,000 barrels per day (bpd) a month in July and August
-
Oil Falls 2.5% As U.S. Refiners Ramp Up Output, Equities Retreat
Oil prices fell 2.5% on Wednesday, reversing early gains as traders grew less worried about a supply crunch after government data showed U.S. refiners ramped up output, and as crude futures followed Wall Street lower.
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
