WTI oil prices declined marginally by 0.3 percent to close at $50.3 per barrel after a seesaw trading session, as investors weighed rising U.S. production against geopolitical
The bank finds the pace of declines in U.S. crude inventories encouraging, with an acceleration in draw downs expected through the second quarter as OPEC
When OPEC and Russia meet next month to assess the impact of their oil cuts they face a surprising outcome: stockpiles are even higher than when they started
Oil prices were stable on Wednesday as OPEC said it was committed to draw down a global supply overhang that has dogged markets since 2014, although bloated US output and inventories still weighed on crude
Opec is finally making some headway in its race against the tide of surging US supplies, and speculators are giving the group greater credence
Crude Oil prices have been trending strongly higher through most of April as the commodity was buoyed by the ongoing OPEC production cuts, as well as plenty of geo-political risk. Subsequently
Opec is finally making some headway in its race against the tide of surging US supplies, and speculators are giving the group greater credence. Hedge funds boosted bets on higher West Texas Intermediate crude prices a second week as futures topped $53 a barrel for the first time in a month, US Commodity Futures Trading […]
Oil declined below $53 a barrel as the U.S. continued to ramp up drilling, stoking concern that the nation’s surge in output this year will offset OPEC-led efforts to cut a global supply surplus.
The oil market is tipping slowly from glut to equilibrium, as output cuts from Organization of the Petroleum Exporting Countries (Opec) and 11 non-Opec countries start to reduce crude flows.
Crude oil futures were largely unchanged on Thursday, with the market torn between rising US production and the output cuts being made by OPEC and other producers.