OPEC+ members agreed to extend their voluntary oil output cuts into the second quarter of 2024, boosting oil prices and signaling confidence in the global economic recovery. The decision, announced…
oil prices
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The ongoing war in Gaza and the prospect of a US interest rate cut have pushed oil prices higher, with Brent crude trading above $83 per barrel on Thursday. The…
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The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to maintain their voluntary oil output cuts for another six months, boosting oil prices and tightening the global…
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The global oil market has seen a significant change in the past year, as Brent crude oil, the most widely used benchmark for oil prices, has incorporated U.S. WTI Midland…
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The global oil market is tightening as shipping delays and OPEC+ cuts reduce the availability of crude in Europe and Africa, boosting futures prices. Rising demand and geopolitical risks The…
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Oil prices remained steady on Monday, as the impact of rising geopolitical tensions in the Middle East was offset by signs of weakening demand in the global market. The conflict…
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Oil markets shrugged off the announcement by OPEC+ that it will extend its voluntary oil production cuts for another three months, starting in April 2024. Analysts widely expected the decision…
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The Middle East is witnessing a surge of violence and instability, as a missile strike on a fuel tanker in the Red Sea and an attack on U.S. troops in…
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The world’s oil supply is under pressure from multiple factors, including geopolitical tensions, extreme weather, and production outages. This has pushed oil prices to their highest levels in months, with…
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Geopolitical risks driving up oil prices could potentially position the energy sector for a comeback after lagging behind the rest of the US stock market for months. The S&P 500…