(BOE Report)– OPEC+ will likely approve another oil output hike on Sunday, sources familiar with the discussions said, adding that the producer group was still debating the final size of the increase for September. OPEC+, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But it reversed course this year
(Oil Price) – Saudi Arabia is getting ready to engage in a protracted oil price war with its rivals, Bank of America’s leading commodities expert told Bloomberg on Monday. According to Francisco Blanch, BofA’s head of commodities research, the unfolding oil price war is going to be “long and shallow”, rather than “short and steep” as the Kingdom tries to claw back lost
(BOE Report) – LONDON, May 29 – Oil drillers in the U.S. shale heartland are slowing down operations, a sign that OPEC’s high-stakes price war is starting to pay off, but Saudi Arabia will need to exert a lot more pain to make a lasting impact on market share. U.S. oil producers upended the global market in the early 2010s, as
(Investing) – LONDON/DUBAI – OPEC+ is likely to agree to a further accelerated oil output hike for July this week, three delegates from the group told Reuters, in the latest stage of a plan to meet rising demand and increase market share. When the 22-member group meets on Wednesday to review the market, it is not expected to change policy, the
