Brent, the global benchmark, rose 2.7% to $61.67 a barrel. The Organization of the Petroleum Exporting Countries along with Russia and its allies reached deal to reduce supply in a Continue Reading
Oil prices jumped more than 2 percent on Friday as Saudi Arabia and other producers in OPEC, as well as allies like Russia, agreed to reduce output to drain global Continue Reading
OPEC and its Russia-led allies agreed on Friday to slash oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price Continue Reading
OPEC and its allies led by Russia agreed Friday after a tension-filled week to implement 1.2 million b/d of production cuts from January 2019 to shore up flagging oil prices Continue Reading
Brent oil futures edged higher on Friday after Russia seemed likely to contribute a bigger output cut to an OPEC and non-OPEC deal, but Saudi Arabia voiced pessimism on whether Continue Reading
Crude oil futures took a nosedive in European trading on concerns producer group OPEC will fail to deliver a sufficient production cut to restore balance to the market. 1355 GMT, ICE Continue Reading
As oil markets hold their breath for OPEC+’s announcement of the final production cuts to take place starting next year, the Energy Information Administration served a nice surprise to oil Continue Reading
“It’s the effect on light [oil] which is the newsworthy item,” Mr. Poloz said in a news conference in Toronto. He said the central bank plans to hold special, targeted Continue Reading
Crude oil futures were lower during mid-afternoon trade in Asia Thursday on indications of an uptick in production in Saudi Arabia and the UAE ahead of the OPEC meeting later Continue Reading
U.S. stock investors are wary that a 30 percent slump in oil prices will pressure corporate profits while also presenting a sign of weakness in global growth at a time Continue Reading
