Oil steady as attention turns to potential supply hike
Oil prices steadied on Friday ahead of an OPEC meeting in Vienna next week as two of the world’s biggest producers, Saudi Arabia and Russia, indicated they were prepared to Continue Reading
Oil prices lifted by Libyan oil production outage
Crude oil prices edged slightly higher early Thursday after reports of the loss of Libyan oil production, though the downturn was balanced by OPEC pledges. The National Oil Corp. of Continue Reading
The Bullish And Bearish Case For Oil
Oil prices are in a holding pattern as we await the outcome of the OPEC+ meeting in a few days, and while the result of that meeting will almost completely Continue Reading
Headwinds for ICE Brent as Saudis, Russia eye output boost
Crude and product futures held steady throughout much of the US trading day Thursday despite fresh indications that Saudi Arabia and Russia would agree to increase output. Saudi energy minister Continue Reading
Indian oil minister says current oil price not sustainable, calls for ‘responsible pricing’
Saying that current oil prices were not supported by market fundamentals, Indian oil minister Dharmendra Pradhan on Thursday called for “responsible pricing, one that balances the interests of both the Continue Reading
Oil rises as U.S. inventories fall on strong demand
Oil prices turned positive on Wednesday after a bigger-than-expected decline in U.S. crude inventories along with surprise drawdowns in gasoline and distillates indicated strong demand in the world’s top oil Continue Reading
Higher oil prices starting to sap global demand growth: BP
Global oil demand has already started to show signs of weakening this year in response to higher oil prices, following another year of robust demand growth above the 10-year average, Continue Reading
High gas prices will shorten, not cancel, summer road trips
Even though gas prices are eating up close to 10 percent of U.S. incomes, motor club AAA said Wednesday travel plans may be scaled back, but not canceled. “Motorists can Continue Reading
Oil prices drop as supplies increase
Oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer group OPEC could relax voluntary output cuts. Benchmark Brent crude LCOc1 was down Continue Reading
High gas prices influencing consumer habits
Consumer demand for gasoline might be on the decline as retail gasoline prices in the United States remain stubbornly high, sector analysis finds. Motor club AAA lists a national average Continue Reading