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Oil set for weekly drop as OPEC+ weighs another big supply hike
Crude has shed about 14% this year, hitting the lowest since 2021 last month, as OPEC+ loosened supply curbs at a faster-than-expected pace, just as the US-led trade war posed headwinds for demand. Data this week showed another rise in US commercial oil stockpiles, adding to concerns about a surplus.
Jeff Currie, Carlyle chief strategy officer of energy pathways, joins CNBC's 'Squawk on the Street' to discuss outlooks on ...
U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from ...
The pressure on markets comes as Bloomberg News on Thursday reported that members of the OPEC+ group are considering another output hike in July. The group has already agreed to raise production by ...
OPEC remains optimistic about oil demand growth through 2026, even as it warns of declining investment and slower supply ...
Tribune Online on MSN19h
FG to oil firms: Ramp up production to meet OPEC quotaThe Minister of State for Petroleum Resources, Gas, Ekperenkpo Ekpo, has called on oil and gas stakeholders to collaborate to meet the quota approved by the Organisation of Petroleum Exporting ...
VIENNA, 4th March, 2020 (WAM) -- The price of OPEC basket of fourteen crudes stood at US$52.65 a barrel on Tuesday, 3rd March 2020, compared with US$51.65 the previous day, according to OPEC ...
OPEC’s Secretary General Haitham Al-Ghais said that the organization's outlook for the global oil market remains positive overall, despite recent econ ...
AllAfrica on MSN15h
Oil Theft - Nigeria Losing More Barrels of Crude Oil Than Some Opec Members Produce - Senator"Nigeria loses billions of dollars annually to crude oil theft. This is severely undermining our economy, weakening the Naira, and depriving the nation of vital revenue needed for infrastructure, ...
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