ADVERTISEMENTCrude oil prices plunged to a multi-year low following OPEC+’s decision to accelerate production hikes for June. During Monday’s Asian session, Brent futures slumped as…
ADVERTISEMENTCrude oil futures slumped to near multi-year lows after the Organisation of the Petroleum Exporting Countries (OPEC) and its allies announced a larger-than-expected production increase…
Eight OPEC oil producing nations Thursday agreed to boost crude oil production by 411,000 barrels a day, lowering prices by 6%. The increase was much…
Oil prices had already been trading lower in the last few weeks, partly because of expectations that US president Donald Trump could swiftly end Russia’s…
Iranian president urges members to unite after Trump again initiates ‘maximum pressure’ sanctions campaign.Iran’s President Masoud Pezeshkian urged OPEC members to unite against possible US…
Here are the key developments on the 1,066th day of Russia’s full-scale invasion of Ukraine.Here is the situation on Saturday, January 25: Fighting Russia’s Defence…
Breadcrumb Trail LinksPMN BusinessThe United Arab Emirates, a key member of OPEC+, will reduce oil shipments early next year as the alliance seeks stronger discipline…
Oil prices rose nearly 1% Thursday after Israel reported ceasefire breaches with Hezbollah, reigniting Middle East tensions. Brent hit $72.90 a barrel, recovering recent losses.…
Eight member countries of the OPEC+ oil-producing group anounced on Sunday to further extend their voluntary output cuts by a month, pushing the reductions through…
Breadcrumb Trail LinksPMN BusinessExxon Mobil Corp. and Chevron Corp. capped Big Oil earnings season by revealing blockbuster increases in fossil fuel production — just as…
Will tensions in the Middle East lead to another market price shock in Europe? Energy analyst Dr Yousef Alshammari shares his outlook on oil prices…
Crude prices slumped following weak economic data from the US and China, which dampened demand outlooks. Risk-averse sentiment continued to dominate global markets. ADVERTISEMENTCrude oil…
Breadcrumb Trail LinksPMN BusinessRussia’s oil firms have reduced pace of drilling from last year’s record as the nation deepened its OPEC+ production cuts.Author of the…
Crude prices are experiencing upward pressure ahead of the upcoming OPEC+ policy meeting. However, the long-term outlook for oil markets remains uncertain due to the…
Russia is among the countries announcing cut extension, announcing an additional voluntary reduction of 471,000 barrels per day for the second quarter. ADVERTISEMENTSome members of…
OPEC only partially delivered new oil production cuts in the first month of its latest supply pact, according to a report from the group. The…