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Topic

oil exporter

Oil track for big weekly drop as supply concerns mount

Oil track for big weekly drop as supply concerns mount

Published 16 Jul, 2021 09:05pm
  • 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.
Oil climbs while OPEC+ considers output increase

Oil climbs while OPEC+ considers output increase

Published 01 Jul, 2021 06:46pm
  • 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.
Oil drifts near 2018 highs ahead of OPEC+ meeting

Oil drifts near 2018 highs ahead of OPEC+ meeting

Published 28 Jun, 2021 11:10am
  • OPEC and associated oil producers set to meet on July 1.
  • OPEC+ may increase output by 500,000 bpd in Aug - ANZ, ING.
  • US adds rigs for 11th month in row - Baker Hughes.
Oil falls 1pc amid dollar strength; demand picture still bullish

Oil falls 1pc amid dollar strength; demand picture still bullish

Published 18 Jun, 2021 06:34pm
  • Brent crude futures were down 86 cents, or 1.2%, at $72.22 a barrel.
  • The bullish trend in oil remains intact, thanks to optimism surrounding the demand outlook. The dollar may well be strengthening but the fundamental picture for oil hasn't changed.
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