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oil exporter

Oil track for big weekly drop as supply concerns mount
Markets

Oil track for big weekly drop as supply concerns mount

  • Brent crude was down 82 cents, or 1.1%, at $72.65 a barrel, heading for a 3.8% fall this week.
  • Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ producers to finalise a deal to increase production.
Published 16 Jul, 2021 09:05pm
Oil climbs while OPEC+ considers output increase
Markets

Oil climbs while OPEC+ considers output increase

  • WTI rose more than 10% in June, Brent more than 8%.
  • Cushing inventories drop to lowest since March 2020 –EIA.
  • Brent to average $67.48/bbl; WTI $64.54 in 2021 -Reuters poll.
  • OPEC+ to add 2 mln bpd to market in August-December – source.
Published 01 Jul, 2021 06:46pm
Oil trades at multi-year highs on demand expectations
Markets

Oil trades at multi-year highs on demand expectations

  • Vitol CEO sees oil price around $70-$80/bbl this year.
  • Trafigura CEO says good chance oil gets to $100/bbl.
  • POLL-US crude inventories seen falling for 4th week in a row.
  • Coming Up: API data on US crude stocks at 4:30 p.m. ET.
Published 15 Jun, 2021 09:01pm
Oil prices steady on hopes for economic recovery
Markets

Oil prices steady on hopes for economic recovery

  • Fresh restrictions imposed in Asia to curb pandemic
  • China April crude throughput slows from peak
  • British economy reopens after four-month lockdown
  • Recovery of US pipeline network eases supply concerns.
Published 17 May, 2021 08:50pm
Iran again boosts OPEC oil output in April
Markets

Iran again boosts OPEC oil output in April

  • OPEC April output rises 100,000 bpd from March.
  • Compliance with OPEC+ cut pledges slips to 123%.
  • Iran posts OPEC's biggest output gain despite sanctions.
  • Biggest declines seen in Venezuela and Libya.
Published 30 Apr, 2021 06:38pm