Oil prices continue to be under pressure, trading near their lowest levels in two weeks, as concerns over weakening global demand and OPEC’s downgraded forecasts …
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INDUSTRY NEWSLatest News
OPEC+ faces critical decisions on extending oil production cuts
by Biplab Dasby Biplab DasOPEC+, a coalition led by Saudi Arabia and Russia, has implemented a series of production cuts since late 2022.
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INDUSTRY NEWSLatest News
Oil prices hold steady as markets eye inflation figures, await OPEC+ output decision
The beginning of the U.S. driving season will also provide a supportive factor for oil prices, according to Yoshida’s remarks.
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The voluntary cuts by OPEC+ members amount to reducing the output of crude by around 2.2 million barrels per day (bpd) for the first half …
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INDUSTRY NEWSLatest News
Oil prices rise as Chinese economic growth surpasses expectations
by Biplab Dasby Biplab DasBrent and U.S. crude futures rose by 0.5% and 0.6%, respectively, with the benchmarks responding positively to China’s GDP growth of 5.3% year-on-year.