Oil prices surged on July 29, pushing Brent crude above $90 a barrel as renewed Middle East fighting and tighter U.S. inventories lifted global benchmarks. Brent futures settled at $90.74, up $6.65, or 7.9%. West...
Tag : OPEC
CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South...
The eight OPEC+ countries that had previously undertaken voluntary production adjustments have reaffirmed their coordinated efforts to support global oil market stability in response to sustained positive market indicators. Representatives from Saudi Arabia, Russia, Iraq,...
Brent crude prices declined nearly 3% on Wednesday, rebounding slightly from a three-year low as U.S. crude stockpiles rose more than expected, adding pressure on oil markets already grappling with OPEC+ plans to increase production...
Oil prices continued their upward trend, settling above $72 per barrel amid ongoing supply uncertainty and a weak dollar, which made dollar-denominated commodities more attractive to investors. The rise marked the third consecutive session of gains...
MENA Newswire News Desk: OPEC has revised its global oil demand growth forecast for 2024, reducing the previous estimate by 106,000 barrels per day (b/d). The organization's latest report now projects a year-on-year increase of 1.9...
Tarek El Molla, the Minister of Petroleum and Mineral Resources of Egypt, unveiled his country's ambitious plan to invest $1.8 billion in offshore exploration for new gas wells in the Mediterranean Sea and the Nile...
Gold prices have surged past $2,000 an ounce, scaling one-year highs, as the US dollar and yields weakened. This follows weaker-than-expected US economic data, which reinforces bets for a slowdown in the pace of interest...
Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day on Sunday, ahead of a virtual meeting of an OPEC+ ministerial panel. The unexpected move takes...
Ten non-OPEC oil-producing countries and OPEC Member Countries signed the Declaration of Cooperation (DoC) on 10 December 2022. At the OPEC Headquarters in Vienna, Austria, OPEC Member Countries, Azerbaijan, Bahrain, Brunei Darussalam, Equatorial Guinea, which...