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oil producers

Oil prices extend losses on expected supply increase
Markets

Oil prices extend losses on expected supply increase

  • Saudi Arabia and UAE reach compromise on oil supply.
  • US crude stockpiles fall for eighth week –EIA.
  • US fuel stocks rose despite reduced refinery output –EIA.
  • Iran nuclear talks unlikely until mid-August –source.
  • China June crude throughput hit record high.
Published 15 Jul, 2021 05:26pm
Oil rises on optimism about demand outlook
Markets

Oil rises on optimism about demand outlook

  • Brent crude was up by 52 cents, or 0.7%, at $73.38 a barrel.
  • We have had those stock draws for a couple months, the market is heading in the right direction ... my impression it is not a super cycle.
Published 15 Jun, 2021 05:34pm
Oil rises to fresh multi-year highs on demand recovery
Markets

Oil rises to fresh multi-year highs on demand recovery

  • Brent crude futures edged up 13 cents to $72.65 a barrel.
  • "In 2022 there is scope for the 24-member OPEC+ group, led by Saudi Arabia and Russia, to ramp up crude supply by 1.4 million barrels per day (bpd) above its July 2021-March 2022 target," the IEA said.
Published 11 Jun, 2021 06:40pm