Browsing: Oil market

SINGAPORE: Oil prices steadied on Wednesday as investors eyed concerns around crude and fuel supplies, following Ukrainian attacks on Russian refineries and the potential for a widening of the Israel-Hamas war to more directly include Iran.

Three tankers loaded with Russian Sokol-grade oil have arrived at Indian ports, despite being targeted by Western sanctions, Bloomberg reported on Monday, citing vessel-tracking data.

The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month

NEW YORK: Oil prices jumped more than $1 a barrel on Thursday, closing out the month higher on the prospect of OPEC+ staying the course on production cuts, ongoing attacks on Russia’s energy infrastructure and a falling US rig count tightening crude supplies, according to Reuters. 

Saudi Arabia’s crude oil exports fell in January for a second straight month, data from the Joint Organizations Data Initiative (JODI) showed on Monday.

NEW YORK: Oil prices rebounded slightly on Wednesday after extended declines as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the US, the world’s two biggest crude consumers, according to Reuters.

TEHRAN (Tasnim) – Iran’s Oil Minister Javad Owji held talks with Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais on the sidelines of the 7th meeting of heads of the Gas Exporting Countries Forum (GECF) in Algeria.

New producers are aggressively entering the markets, surpassing the production levels of countries like Kuwait, Iran, and Iraq, examples being Brazil and Canada

SINGAPORE: Oil prices fell on Friday after a US Federal Reserve official said interest rate cuts should be delayed at least two more months, but indications of healthy demand and concerns over supplies could boost prices in the coming days, according to Reuters.

On November 30, 2023, several OPEC+ countries made a decision to voluntarily cut oil production by an additional 2.2 mln barrels daily in the first quarter of 2024