Signs of growing U.S. fuel demand are propping up oil above $49 a barrel, with more refinery purchases seen helping ease a glut in American crude stockpiles. Futures in New Continue Reading
Oil prices closed at a three-week high on Wednesday, boosted by signs of strong demand for crude products and renewed commitments by major oil producers to rein in production. Light, Continue Reading
Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half Continue Reading
Boasting that it’s a result of a multilateral nuclear deal, OPEC-member Iran said its trade volume with oil-rich Russia could pass the $10 billion mark. Iranian President Hassan Rouhani hosted Continue Reading
OPEC oil output is likely to fall for a third straight month in March, a Reuters survey found on Wednesday, as the United Arab Emirates made progress in trimming supplies Continue Reading
The oil market is risking a supply crunch as producers cut spending on major projects to focus on short-term low-cost shale output in the U.S., some of the top crude Continue Reading
Egypt expects to cut the $3.5 billion euros it owes to international oil companies by around half in coming weeks, the Egyptian oil minister said on Wednesday. “We have made Continue Reading
Libya’s crude production dropped to about 500,000 barrels a day, the lowest since September, as exports from the nation’s second-largest terminal at Zawiya were disrupted. The OPEC nation’s output has Continue Reading
As Venezuela’s foreign currency reserves have shrunk to $10.4 billion USD , so have the country’s goods in stock, against the background of gas, energy and medicine shortages, crime rates Continue Reading
Chinese demand has long been the driving force in many global commodity markets. Now, expectations of falling production of goods from aluminum to coal are moving prices and getting more Continue Reading
