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Topic

oil output policy

OPEC+ seeks consensus on oil output policy after UAE roadblock

OPEC+ seeks consensus on oil output policy after UAE roadblock

Published 02 Jul, 2021 07:42pm
  • Saudi, Russia had pushed plan to lift output, extend pact.
  • UAE against extending oil pact through 2022, sources say.
  • UAE wants own output set at higher level under any deal.
  • A deal could see 2 mln bpd added to market by December.
Oil on track for 9-week high on rising demand outlooks

Oil on track for 9-week high on rising demand outlooks

Updated 12 May, 2021 07:32pm
  • Brent futures rose $1.09, or 1.6%, to $69.64 a barrel.
  • US West Texas Intermediate (WTI) crude rose $1.08, or 1.7%, to $66.36.
  • India's coronavirus death toll crossed 250,000 in the deadliest 24 hours since the pandemic began.
Oil prices edge higher after sell-off driven by demand concerns

Oil prices edge higher after sell-off driven by demand concerns

Published 19 Mar, 2021 09:05pm
  • Brent crude was up 31 cents, or 0.5%, at $63.59 a barrel.
  • Oil closed about 7% down on Thursday as several large European economies reimposed lockdowns and vaccination programmes were slowed by distribution issues and concerns over potential side effects.
OPEC+ maintains oil policy amid price rally

OPEC+ maintains oil policy amid price rally

Published 03 Feb, 2021 09:54pm
  • A Joint Ministerial Monitoring Committee of OPEC+ met virtually on Wednesday, pronouncing itself "optimistic for (a) year of recovery in 2021.
  • Oil has rallied from historic lows hit last year as the pandemic hit demand, thanks to record output cuts by the Organization of the Petroleum Exporting Countries and allies.
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