(Bloomberg) – Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.
The producers group …
NEW YORK – Concern about the global economy dampened the oil market’s reaction to Saudi Arabia’s pledge to cut supplies and has capped prices this year, a Chevron CVX.N executive told Reuters on Thursday.
Benchmark Brent LCOc1 crude prices …
LONDON – Portfolio investors continued heavy buying of crude oil futures and options for a second week after OPEC+ cut its production target more than expected.
Hedge funds and other money managers purchased the equivalent of 47 million …
LONDON – OPEC+ sees this year’s oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month.
New …
U.S. officials say they are still trying to determine exactly what’s happening, but numerous reports say there’s potentially one hijacked ship in the Gulf of Oman and the status of several others is unclear.
The situation occurred as tensions …
LONDON – Hedge funds resuming buying petroleum last week, with a focus on Brent, as confidence steadied following the wave of selling and sharp drop in prices a month ago.
Hedge funds and other money managers purchased the equivalent …
Crude prices appear to have found a temporary equilibrium in recent weeks, with OPEC+ planning to add just enough extra production to prevent prices rising further and draw in more output from U.S. shale firms.
Brent’s six-month calendar spread …
LONDON – The oil market is likely to be in balance in the second half of 2021, even though European coronavirus lockdowns and U.S. winter storms caused disruptions in March, crude and petroleum products market price structures showed.
After …
LONDON/DUBAI – The oil market is getting closer to balance as demand gradually rises, OPEC’s secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August.
The …
Source: Reuters
VIENNA (Reuters) – The oil market outlook for next year may have upside potential, the secretary-general of producer group OPEC said on Tuesday, appearing to downplay any need to cut output more deeply.
The Organization of the Petroleum …
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From Reuters
NEW DELHI (Reuters) – Global oil markets could tighten towards the end of this year due to strong demand and uncertainty of production in some oil producing nations, the head of the International Energy Agency said.
“Definitely there …
