Oil prince fell on Wednesday on concerns about the market’s recovery after OPEC and its allies lowered its 2021 demand growth forecast, although strong Chinese factory activities lent some support. Brent crude for May, which expires on Wednesday, fell 32 cents, or 0.5%, to $63.82 a barrel at 0948GMT. The more active Brent contract for … More Oil Falls On OPEC+ Concerns Over Slow Demand Recovery
Sustained higher oil prices are expected to spur higher U.S. oil output this year, JP Morgan analysts said in a weekly note. ‘At current prices, most U.S. onshore operators are economic, leaving a vast group of operators, from large public companies to private players, in good position to ramp up activity in 2h21 and build … More Sustained Higher Oil Prices To Spur U.S. Output Growth – JP Morgan
Oil prices fell on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID -19 pandemic. Brent crude was down 15 cents, or 0,3%, at $48.10 a barrel by 0155 GMT, after gaining 1,8% on Wednesday. U.S … More BUSINESS| Oil Drops As OPEC+ Resume Talks On Output Cut Extension After Impasse
RIYADH | SAUDI ARABIA – Saudi Arabia’s King Salman bin Abdulaziz and Nogerian President Muhammadu Buhari discussed efforts taken to stabilize and rebalance global oil markets in a telephone call, Saudi state news agency SPA reported on Wednesday. The two leaders ‘stressed the importance of compliance, by all participants, to the OPEC+ agreement and the … More BREAKING NEWS | Saudi King Salman, Nigerian President Discuss Oil Market: SPA
RIYADH | SAUDI ARABIA – Saudi Arabia’s state oil producer Aramco has hiked official selling prices (OSPs) for its crude to Asia by $1 a barrel in August, and raised the OSPs for almost all grades to Europe and the United States. Saudi Arabia has set the August price to Asia at plus $1.20 a … More BUSINESS | Saudi Arabia ups August Crude Prices To Asia
WASHINGTON – President Donald Trump said on Monday that his administration was considering the possibility of stopping incoming Saudi Arabian crude oil shipments as a measure to support the battered domestic drilling industry. ‘Well, I’ll look at it’, Trump told reporters at a daily news conference after he was asked about requests by some Republican … More BUSINESS NEWS | Trump To Consider Halting Saudi Oil Imports, Says U.S. Has ‘Plenty’
RIYADH | SAUDI ARABIA – Saudi Arabia plans to announce its crude prices for Man on Sunday, a source told Reuters, having delayed the official release until after it finalizes a global oil supply cut deal.
Saudi Arabia’s King Salman, U.S. President Donald Trump and Russian President Vladimir Putin reviewed, in a phone call, the importance of cooperation between oil producing countries, after Thursday’s OPEC+ meeting, Saudi state news agency SPA reported. The leaders stressed the importance of cooperation between oil producing nations to maintain stability of energy markets and support … More Saudi King, Trump, Putin Review Importance Of Cooperation Between Oil Producing Countries
BUCHAREST | ROMANIA – The White House is not negotiating with Saudi Arabia or Russia over a deal to cut oil production and wants the two parties to come to an agreement among themselves, U.S. Energy Dan Brouillette told industry executives on a call on Friday, according to a source who listened in. Brouillette spoke … More BUSINESS | U.S. Not Negotiating With Saudi Arabia, Russia; Wants Them To Reach Oil Deal: Source
RIYADH | SAUDI ARABIA – Saudi Crown Prince Mohammed Bin Salman and U.S. President, Donald Trump talked over the phone on Thursday and discussed global energy markets, according to the state news agency. The Call comes after the United States invited OPEC’s main member countries to return to negotiations.