(Oil Price) – Despite slumping oil prices, global refiners are turning in strong first-quarter earnings, thanks to a sharp rebound in profit margins, Reuters reports, with U.S. Gulf Coast refiners processing Mars crude enjoying a doubling of margins to some $16 per barrel, $7 margins in Singapore for Dubai crude, and a 36% margin jump in Asia for Arab Light crude. All in
(Oil Price) – OPEC+ served two surprises to the oil trading world in a matter of weeks. First, it said it would bring back three times the amount of oil supply it planned to originally in May. Then, it said it would repeat the exercise in June. And then it emerged that Saudi Arabia is raising selling prices for Asia when
(Investing) – LONDON – Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output. Brent crude futures climbed 41 cents a barrel, or around 0.7%, to $62.56 a barrel by 1219 GMT, while U.S. West Texas Intermediate crude
(Investing) – LONDON -Oil gained more than $1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by OPEC+ to boost output sent prices down in the previous session, although concerns about a market surplus persisted. Brent crude futures were up $1.80, or 3%, to $62.03 a barrel by 1310 GMT, the first gain after six consecutive
(Oil Price) – Morgan Stanley joined other major investment banks in slashing oil price forecasts amid expectations of a larger market surplus later this year as OPEC+ plans to raise output much more than previously expected. Morgan Stanley cut its oil price forecasts for the remainder of the year, anticipating a bigger glut. The bank revised down its projection of Brent Crude prices
(Investing) – Goldman Sachs reduced its oil price forecast following decisions by the Organization of the Petroleum Exporting Countries and its allies, OPEC+, to accelerate oil output increases, the bank said in a note dated Sunday. The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate.
(Investing) – Oil prices declined on Monday, but pared back some earlier losses, after the OPEC+ oil group signaled over the weekend that it will further increase production in the coming months. The prospect of higher supplies and weakening demand weighed on crude, which has already been nursing steep losses so far in 2025. The declines put oil back in sight
(Investing) – The Organization of Petroleum Exporting Countries and allies (OPEC+) has rescheduled its video conference to discuss oil production levels for June. The meeting, initially planned for May 5, will now take place on Saturday, according to a report from Bloomberg, citing delegates who requested anonymity due to the private nature of the information. The upcoming meeting has the potential
(Oil Price) – The International Monetary Fund (IMF) has downgraded its economic growth forecast for the oil exporters in the Middle East to 2.3% from 4% expected in October, due to the slide in oil prices. “Across the region, rising trade tensions and policy uncertainty are adding to the impact of conflicts and extended oil production cuts to weaken growth prospects,”
(Investing) – HOUSTON – Oil held steady on Thursday after strong earnings from Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT) supported U.S. equities and postponement of U.S.-Iran talks offset concerns about the U.S. economy and the prospect of higher OPEC+ oil output. U.S. West Texas Intermediate crude futures eased 15 cents or 0.3% to $58.04 a barrel by 12:30 p.m. ET (1630 GMT). Brent
(Investing) – KYIV/WASHINGTON -Ukraine and the U.S. on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine’s reconstruction. The two countries signed the accord in Washington after months of sometimes fraught negotiations, with uncertainty persisting until the last moment with
(Investing) – NEW YORK -Just 100 days into President Donald Trump’s second term, oil prices have slumped over 20% to below many U.S. producers’ breakeven costs as investors lose confidence amid tariff and policy uncertainty – undercutting Trump’s push for U.S. energy dominance. Trump campaigned on the often repeated refrain of “drill, baby, drill” and moved on his first day in
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