Oil and Energy

3 hours ago Oil prices end week in gains

Oil prices surged by more than 4% on Friday

22 June 06:39 PM OPEC agrees to raise output by undisclosed amount

Members of the Organization of Petroleum Exporting Countries (OPEC) on Friday announced that they agreed on ramping up their oil production, easing their supply curbs.

Global Reports

22 June 10:56 AM Oil rises on uncertainty over OPEC meeting, trade dispute

Oil climbed on early Friday, driven by uncertainty as to whether OPEC members would agree on increasing production at their meeting later in the day.

Oil and Energy

21 June 11:32 PM Oil falls as OPEC set to raise production

Saudi Arabia and Russia are supporting the moves to increase production

Oil and Energy

21 June 05:41 PM US natural gas storage, prices rise

Mubasher: The US Energy Information Administration (EIA) reported that the country’s natural gas storage rose by 91 billion cubic feet (Bcf) last week.

Oil and Energy

21 June 10:47 AM Oil drops after Iran hints support for OPEC output hike

Mubasher: Oil prices fell on Thursday as Iran suggested that it may back a small increase in crude production from OPEC.

Global Markets brief

20 June 05:40 PM US crude inventories fall beyond forecasts; oil prices rise

Crude oil inventories in the US dropped by 5.9 million barrels to 426.5 million barrels in the week ended 15 June, as shown by EIA.

Global Reports

20 June 12:02 AM Oil prices fall days before OPEC summit

Oil prices fell on Tuesday, as concerns regarding the next OPEC summit are on the rise

Oil and Energy

19 June 06:50 PM Russian energy minister calls for end to oil output curbs

Russian energy minister Alexander Novak on Tuesday called the world’s largest oil producers to end the oil supply curbs.

Oil and Energy

19 June 05:13 PM OPEC projects solid oil market, potential need for output hike

Mubasher: A technical panel at the Organization of Petroleum Exporting Countries (OPEC) expected global oil demand to remain resilient in the second half of 2018.

Global Markets brief

19 June 10:48 AM Potential hike in OPEC, Russian output weighs on oil prices

Mubasher: Oil prices dropped in early Asian trading on Tuesday, pulled down by expectations that OPEC and non-OPEC allies will gradually step up crude production.

Oil and Energy

18 June 05:34 PM Oil to beat $80 pb despite OPEC plans –Goldman Sachs

Goldman Sachs said on Monday that oil prices would surge again above $80 per barrel (pb) over the coming months.

Global Reports

18 June 04:43 PM OPEC mulls over 300,000 bpd output hike – Reports

OPEC members are in talks over stepping up production by 300,000 to 600,000 barrels per day.

Global Reports

18 June 10:58 AM Oil dips on China crude tariff threats, OPEC output hike

Oil on early Monday maintained their fall from last week driven by China's tariff threats on US crude imports and potential OPEC rising supply.

Oil and Energy

17 June 10:20 AM Saudi Arabia, Russia eye 1.5m bpd output hike in Q3

Saudi Arabia and Russia will ask OPEC to allow them to increase oil production by 1.5 million barrels per day during the third quarter of 2018

Global Reports

15 June 10:51 AM Oil stabilises on potential output hike, before US rig data

Oil prices were stable on early Friday, as Saudi Arabia and Russia hinted at rising production ahead of OPEC meeting in Vienna.

Global Markets brief

14 June 04:42 PM Oil prices remain strong near $70 pb

Saudi Arabia and Russia are expected to lead efforts to reduce the limits of the OPEC-led output agreement

Oil and Energy

14 June 10:38 AM Oil slides on lower US output hike, China refining drop

Oil eased on early Thursday, driven by high crude production and weaker refining activity in China, despite high US fuel consumption and dropping crude stockpiles.

Global Reports

13 June 06:06 PM Oil prices rise on US crude inventories data

Crude oil inventories in the United States dropped 4.143 million barrels last week

Oil and Energy

13 June 10:10 AM Oil drop Wednesday on potential output hikes

Oil prices went down on early Wednesday affected by hiking US supply and expectations that OPEC members would voluntarily relax production cuts.

Global Markets brief

12 June 03:42 PM Oil prices fall after Saudi Arabia reveals higher May output

Oil prices reversed earlier gains on Tuesday on the back of a reported increase in oil output from Saudi Arabia

Oil and Energy

12 June 10:57 AM Oil rises Tuesday on positive Trump - Kim summit

Mubasher: Oil prices increased on Tuesday on positive news about the historic summit between US President Donald Trump and North Korean leader Kim Jong Un.

Global Reports

11 June 10:32 AM Higher US rig count, Russian supplies weigh oil prices Monday

Mubasher: Oil prices edged down 0.3% on Monday, pressured by a jump in Russian output and US drilling activity.

Global Reports

8 June 03:42 PM Iran denounces US output hike request

Iran criticised the Trump administration’s unofficial request to some OPEC members along with Saudi Arabia to ramp up production to offset Iranian crude shortage.

Global Markets brief

8 June 10:59 AM Oil slips on weaker China demand, US output hike

Oil shed earlier gains on early Friday, as US output rose and demand in China waned, despite Venezuelan output shortage and the OPEC deal.

Oil and Energy