OPEC
A pump jack operates in the Permian Basin oil production area near WinkReuters The US set a new record exporting 3.99 million barrels a day of crude oil in first half of 2023. That’s up 19% from the same time a year ago, EIA data shows. It comes as non-OPEC production has been whittling down […]
An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in the Mangystau region, Kazakhstan, November 13, 2023. REUTERS/Turar Kazangapov/File Photo Acquire Licensing Rights
The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo Acquire Licensing Rights
This week the UK’s conservative Daily Telegraph newspaper published an interesting perspective from their world economy editor. “Saudi and OPEC officials self-evidently do not believe their own claim that world oil demand will keep growing briskly for another generation as if electric vehicles had never been invented, and there was no such thing as the […]
A gas station attendant pumps fuel into a customer’s car at a gas station in Shanghai, China November 17, 2017. REUTERS/Aly Song/File Photo Acquire Licensing Rights BEIJING, Sept 4 (Reuters . . .
SINGAPORE, July 10 (Reuters) – Oil prices dipped in Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, though expected crude supply cuts from Saudi Arabia and Russia limited losses. Brent crude futures fell 55 cents, or 0.7%, to $77.92 a […]
[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermid U.S. Congress averts default, approves debt-limit suspension Brent and WTI on track for first weekly decline in . . .
Just two months after surprising markets by announcing oil output cuts, officials from OPEC, Russia and other countries meeting in Vienna this weekend find themselves pondering whether they need to dial down production again. Their goal would be to prop up a market that has turned negative. Oil prices since mid-April have fallen more than […]
April 5 (Reuters) – Oil prices rose in early Asian trade on Wednesday on anticipated U.S. crude inventory declines and OPEC+’s latest output cut targets. Brent crude futures gained 38 cents to $85.32 a barrel at 0021 GMT. West Texas Intermediate U.S. crude was up 33 cents to $81.04 a barrel.
Oil rose as signs of a further drawdown in US inventories helped prices to extend a rally driven by an unexpected OPEC+ supply cut. West Texas Intermediate rose toward $81 a barrel after closing at the highest level in almost 10 weeks. The industry-funded American Petroleum Institute reported nationwide crude stockpiles fell 4.3 million barrels, […]