(World Oil) – Slowing global oil demand amid extreme uncertainty about the future of U.S. trade and a coming supply surplus are expected to hobble U.S. oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights. The latest update to the S&P Global
(Investing) – HOUSTON – Oil prices held steady on Monday as exemptions for some electronics goods from U.S. tariffs and data showing a sharp rebound in China’s crude imports in March, were outweighed by concerns that the trade war could weaken global economic growth and dent fuel demand. Brent crude futures were flat at $64.76 at 11:19 a.m. ET (1519 GMT). U.S.
(Investing) – DUBAI/MOSCOW/LONDON – As OPEC+ debated whether to keep oil output steady due to weak global demand or pump more in response to internal pressure and a call from U.S. President Donald Trump, it was record output from Kazakhstan that helped sway the decision, sources told Reuters. OPEC and its allies including Russia, a group known as OPEC+, decided on
(Oil Price) – Sentiment in oil markets remained very bearish for most of 2024 amid fears of weakening global demand, weak Chinese economy and a potential oversupply in 2025. Commodity analysts at Standard Chartered continuously reiterated their bullish stance, arguing that the extreme bearishness was unwarranted. Well, StanChart appears to have been vindicated, with oil prices trading above $80 per barrel for the
Yahoo Finance LONDON – Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is actually predicting one. Two of the most closely followed predictors of global oil demand, the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy
Reuters Oil prices are set for a slow crawl upwards this year as the gradual easing of coronavirus-led restrictions buoy demand, although a second COVID-19 wave could slow the pace of recovery, a Reuters poll showed on Friday. The survey of 43 analysts and economists forecast benchmark Brent crude LCOc1 to average $41.50 a barrel in 2020, up slightly from
Source: Houston Chronicle Oil held losses near a two-month low as pessimism persisted over the global economic outlook and American crude inventories expanded more than expected. Futures were little changed in New York after earlier falling as much as 2.3% on a report that the U.S. and China had made no progress in deputy-level trade talks and the Beijing delegation
From Reuters Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. Investors were
From Reuters Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008. Brent crude LCOc1 futures gained $1.15, or 2%, to settle at $58.53 a barrel. U.S. West Texas Intermediate (WTI) crude
From Reuters Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell. The company, like many other U.S. oil producers, is extracting more crude from its wells in the prolific shale basins against the backdrop of pressure to cut back on spending
From Reuters Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand. During the session, Brent traded at a low of $58.81 a barrel, down more than 22% from its peak in April. That decline puts the
From Reuters Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns
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