Oil steadies near $71 after two-day rally
Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was set to resume crude production following a major outage.
Oil prices weighed down by weak Asian demand
Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.
Oil dips as Delta variant weighs on demand forecasts
The Brent benchmark oil price fell for a second day on Friday, albeit holding above $70 a barrel, after the International Energy Agency warned that demand growth for crude is slowing sharply owing to the spread of coronavirus variants.
Oil is in charge of half of the global economy!
Oil has long been the world’s most important commercial source of fuel, and many predict that it will continue to be so well into the next couple of years. After prices surged to two-and-a-half-year peaks mostly throughout the pandemic, the Opec cartel and partners like Russia will boost supplies starting in August. The move is […]
Oil drops below $64 as rising OPEC+, Iranian output weighs
LONDON (Reuters) – Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on […]
