The Organization of the Petroleum Exporting Countries (OPEC) is forecasting a robust summer for oil demand, driven by increased travel and economic growth. This prediction comes amidst a wider-than-usual range of forecasts from various agencies regarding global oil demand growth in 2024.
oil prices
-
-
Nigeria faces the prospect of missing out on significant opportunities as oil prices soar towards the $100 mark, signaling potential windfalls for oil-producing nations. Despite being a major player in…
-
US oil and gas producers are tapping the brakes on drilling activity. For the third week in a row, the rig count in the United States has dipped, according to energy services firm Baker Hughes. This marks the first such streak since last October, raising questions about future US energy production.
-
Oil prices surged on Tuesday, April 2nd, 2024, driven by concerns over potential supply disruptions in Russia and the Middle East. The benchmark Brent crude futures contract reached its highest level since October 2023, after a Ukrainian drone attack targeted a major Russian refinery. Additionally, Iran’s vow to retaliate against Israel for a deadly airstrike raised fears of a wider conflict in the Middle East.
-
Oil prices edged higher on Wednesday, April 3rd, 2024, on concerns about tighter global crude supplies. A larger-than-expected decline in U.S. crude oil inventories and ongoing geopolitical tensions in the Middle East fueled investor worries.
-
Oil prices sink for the second day in a row as a stronger dollar and a surprising rise in US stockpiles put downward pressure on the market.
-
The US is refilling its Strategic Petroleum Reserve (SPR) after a record sale in 2022. The government aims to rebuild the stockpile while considering current oil market prices.
-
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…
-
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…
-
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…