
IEA: global demand to return to pre-pandemic levels at the end of 2022
Oil steadies after hitting 2-yr high as demand hopes face supply growth
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Oil steadies after hitting 2-yr high as demand hopes face supply growth
Oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be …
Investors may have sold off some contracts to take profit when WTI hit $70
Oil prices increased on Wednesday on optimism that the markets are capable of absorbing extra barrels after major oil producers reaffirmed their decision to increase their output until July. International benchmark Brent crude was …
A group of some of the world’s most powerful oil producers agreed on Tuesday to continue gradually easing production cuts amid a rebound in oil prices. OPEC and its oil-producing allies, known as OPEC+, will boost output in July, in accordance with the group’s April decision to return 2.1 million barrels per day to the market between May and July
Oil prices rose on Tuesday, with Brent topping $70 and trading at its highest since March, as optimism grew over the fuel demand outlook during the summer driving season of the United States, the world's top oil consumer. Brent …
The average price of Urals oil in May 2021 increased 2.1 times in annual terms, up to $66.63 per barrel, according to the website of the Russian Ministry of Finance on Monday. "The average price for Urals oil in May 2021 was $66.63 …
Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week for supply guidance. Brent crude futures for …
Iran’s oil production has been rising in recent months, likely in anticipation of a lifting of the sanctions
The Organization of the Petroleum Exporting Countries and allies (OPEC+) has reportedly pushed back its Joint Technical Committee meeting, initially due to have taken place on May 25, has reportedly been postponed to May 31. However, …
The price of Brent crude oil futures contract with July delivery on London’s ICE fell by 2.58% to $64.9 per barrel. By 20:57 Moscow time, it was trading at $65.2 per barrel (-2.22%). The last time the price of Brent was …
Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth. …
Brent crude topped $70 a barrel in London for the first time since mid-March amid signs that recovering consumption has whittled away a glut of oil that built up last year at the height of the Covid-19 pandemic. Brent rose 0.9% to …
Oil prices rose on Friday, reversing some of the previous day's sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India. Brent crude oil futures were up $1.23, or 1.8%, at $68.28 a barrel by 1349 GMT and West Texas Intermediate (WTI) crude was up $1.12, or 1.8%, at $64.94. The two contracts lost about 3% on Thursday.
Saudi Arabia lowered oil prices for customers in its main market of Asia as a surge in coronavirus cases crimps demand in India, the world’s third-largest crude importer ( …
On Tuesday, on the London ICE exchange, the price of Brent crude oil exceeded $ 69 per barrel for the first time since March 15. Brent oil futures for delivery in July reached $ 69.04 (+ 2.19%), Brent futures traded at $ 68.88 per …
India, the world’s third-largest oil consumer behind the U.S. and China, was meant to be a major driver of oil’s demand recovery as economies reopened. But the country’s devastating health crisis has made that impossible. Everyone from oil traders to the world’s biggest producers are panicking, The Japan Times writes
Optimism in OPEC+ is growing, even that underlying economic fundamentals are in dire shape. Growing concerns about new COVID variations, as shown already in India, or renewed restrictions in major OECD countries, such as Germany, seems not to be taken into account, FXEmprire writes. As indicated already before the start of the Joint Ministerial Monitoring Committee (JMCC), the OPEC+ members, led by Saudi Arabia, UAE and Russia, have decided to keep to the former early April decision of a gradual export cut relaxation
The price of oil could plunge to as little as $10 a barrel by 2050 if the world succeeds in electrifying the energy market and meeting Paris Agreement goals, energy research and consultancy Wood Mackenzie said in a report. The …
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers, Bloomberg reported. Barely a fifth of the surplus …