Energy Markets Begin 2023 With Largest Weekly Drop In Years
Energy futures for crude oil, refined products, and natural gas have plunged in the New Year as traders reconsidered short-term fears over cold weather and fears of supply shortage and ...
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Tag: OPEC
OPEC’s U.S. Shale Worries Recede As It Slashes Forecast
OPEC has slashed its forecasts for U.S. shale oil supply multiple times as factors including investor caution hamper expansion, making the non-conventional supply less of a concern for the producer ...
The World Faces Its ‘First Real Global Energy Crisis’ – IEA’s Birol
Tightening markets for liquefied natural gas (LNG) globally and major oil producers reducing supply have placed the world in the middle of "the first truly global energy crisis", the head ...
OPEC+ Oil Supply Cuts May Push World Into Recession – IEA
A decision made by the OPEC+ oil producer group in the past week to rein in output has pushed up prices and may now send the global economy into a ...
Oil Prices Surge By Over $2 Per Barrel As OPEC+ Targets Massive Output Cut
The prices of oil jumped by more than $2 per barrel on October 3, pushed by expectations that oil cartel OPEC and its allies (OPEC+) would introduce a huge production ...
Oil Loses $6 Per Barrel On Demand Fears, Iraq Exports
Summary ECB should consider 75 bps rate rise for Sept. - Estonian policymaker Iraq's SOMO says oil exports unaffected by unrest Russia's Gazprom Neft aims to double oil output at ...
Oil Prices Drop 1.5% For The Week On Recession Fears
Summary Asian, European equities fall S. crude stockpiles decline OPEC chief optimistic on demand Oil prices were largely stable on August 19, reversing earlier losses, but were moving towards weekly ...
US Considers Record-Breaking Crude Reserves Release Causing A Drop In Oil Prices
Joe Biden looks to minimize fears of shortages concerning the Russian invasion of Ukraine The prices of oil have dropped significantly following White House officials stating that the US was ...
Germany Appeals To OPEC To Increase Production Citing Extortions From Sanctions
German Economy Minister Robert Habeck said that the Gulf States should not profit extensively from global sanctions against Russia over its invasion of Ukraine. He was adding his voice to ...
Saudi Aramco Increases Oil Production To Meet Surging Global Demand
In 2021, Saudi Arabia’s state oil company, Saudi Aramco, also reported a rise in its net profit by 124% to $110bn (£83bn) As Saudi Arabia’s state oil company reported a ...