Search Results for: Organization of the Petroleum Exporting Countries
Oil prices dip as supply remains ample despite output cuts
May 18th, 2017
Oil prices dipped on Thursday, weighed down by plentiful supply despite ongoing efforts led by OPEC to tighten the market by cutting production. Brent crude LCOc1 was down 18 cents, or 0.3 percent, from its last close at $52.03 ...
Oil drops on rising U.S. crude inventories, defies expected supply cut extension
May 17th, 2017
Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to extend output cuts. Brent crude was down 41 cents, ...
Oil jumps after Saudis, Russia say supply cut to be extended to March 2018
May 15th, 2017
Oil prices jumped over 1.5 percent on Monday after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until ...
Oil futures rose in Asian trading on Wednesday
May 10th, 2017
Oil futures rose in Asian trading on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening to derail its attempts to end a sustained global glut ...
Oil gives up earlier gains as rising US output, China concerns weigh
May 9th, 2017
Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC-led production cuts could be extended. Brent crude futures, the international benchmark ...
Oil prices rise on expectation of output cut extension
May 8th, 2017
Oil prices rose on Monday as Saudi Arabia’s energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of 2017, although a relentless increase in U.S. drilling capped gains. Brent ...
Oil prices continue slide; WTI nearing six-month low as supply glut weighs
May 5th, 2017
Oil prices fell by as much as a further 3 percent on Friday, after prices had crashed to five-month lows in the previous session, as concerns about global oversupply wiped out all of the price gains since OPEC’s move ...
Is oil market moving from balance into deficit?
May 4th, 2017
Market demand is heading into balance in the second half of the year, should the Organization of the Petroleum Exporting Countries (OPEC) extend its production-cut agreement with other producers from outside the group for another six months after the ...
Coffee, tea and cocoa prices could fall by more than six per cent this year: World Bank
May 3rd, 2017
Coffee, tea and cocoa prices could fall by more than six per cent this year according to the World Bank’s Commodity Markets Outlook. The World Bank says the three beverages are forecast to fall in price in 2017 “due ...
Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs
May 3rd, 2017
Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record supplies capped gains. The benchmark for global oil market, ...
