Oil futures tick up slightly Thursday, a day after erasing the rally scored earlier this month after OPEC+ announced an unexpected round of production cuts.
Oil futures rose slightly early Thursday, steadying a day after erasing the rally scored earlier this month after OPEC+ announced an unexpected round of production cuts.
The... Oil futures rose slightly early Thursday, steadying a day after erasing the rally scored earlier this month after OPEC+ announced an unexpected round of production cuts. The drop saw crude futures fill in the gap left on the daily price chart early this month after Saudi Arabia and its OPEC+ allies announced 1.15 million barrels in additional production cuts beginning in May running through year-end, with Russia pledging to extend a 500,000 barrel-a-day cut through the rest of 2023.
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OPEC’s Al Ghais: OPEC and OPEC+ are not targeting oil pricesHaitham Al Ghais, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Thursday, “OPEC and OPEC+ are not tar
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Column: Oil market has absorbed surprise production cut by OPEC+Oil prices have fallen back after a brief spike triggered by the surprise production cuts announced by Saudi Arabia and other members of OPEC+ on April 2.
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Russia’s Novak: OPEC+ sees no need for further oil output cutsRussian Deputy Prime Minister Alexander Novak said on Wednesday, “OPEC and its allies (OPEC+) sees no need for further oil output cuts despite lower t
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Oil prices rebound after recession fear, Russia exports fueled earlier lossesOil prices rose on Thursday, paring earlier losses fueled by U.S. recession fear and increased Russian oil exports dulling the impact of OPEC production cuts.
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Oil prices stabilise after hefty lossesOil prices were steady on Thursday after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month.
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WTI surrenders OPEC+ surprise production cuts inspired rally amid economic slowdown fearsWest Texas Intermediate (WTI), futures on NYMEX, have turned sideways in the early Asian session after printing a fresh three-week low of $74.60. The
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