Tag: crude prices

April 5, 2024

OPEC met this week with the organization largely expected to stick to the prior agreement for oil supply in Q2. Numerous officials, who wished to remain unnamed, were cited by Reuters in the lead up to the meeting that took […]

October 22, 2021

Top oilfield firm Schlumberger NV (NYSE:SLB) reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for its services and equipment, as producers capitalize on a rebound in crude prices. Global oil prices have climbed nearly 64% […]

September 28, 2021

While acknowledging the inevitable advance of alternative energy sources and technology, OPEC said that oil will be dominate energy source for decades to come as crude prices reached three-year highs Tuesday. In its annual World Oil Outlook, OPEC acknowledged that […]

October 2, 2020

Amid the market turmoil, oil prices sank Friday morning during European trade, as President Trump’s positive test for COVID-19 weighed on investors at a time when crude prices are already struggling with excess supply. While equities stabilized somewhat, crude fell, […]

September 8, 2020

Oil futures fell Tuesday to their lowest levels since June, unable to shake off worries about crude demand due to a continued rise in coronavirus cases, the end of U.S. summer holiday driving season and a report that Saudi Arabia […]

November 18, 2019

Oil futures edged lower in quiet trade Monday, as bulls struggle to build on gains seen last week on rising optimism over prospects for a so-called phase one U.S.-China trade deal. West Texas Intermediate crude for December delivery CLZ19, -0.83% […]

October 3, 2019

Oil futures drifted lower Thursday, with the U.S. benchmark on track for its eighth straight daily decline as worries over global demand persist. West Texas Intermediate crude for November delivery CLX19, -1.44% on the New York Mercantile Exchange were down […]

July 19, 2019

Oil futures remained on track for a steep weekly fall but traded higher early Friday, a day after the U.S. said it shot down an Iranian drone in the Strait of Hormuz, stoking worries that rising tensions between Washington and […]

July 10, 2019

Oil prices shot higher Wednesday, working toward a string of five uninterrupted daily gains, as preliminary U.S. data showed a larger-than-expected drop in supply. The price gain was also due to several companies having “evacuated and reduced production at their […]

June 13, 2019

The price of oil surged on Thursday after a suspected attack on two tankers in the Gulf of Oman. One of the vessels, Front Altair, was “suspected of being hit by a torpedo,” according to the Associated Press, citing Taiwan’s […]

December 3, 2018

Crude prices soared on Monday as optimism ahead of an OPEC meeting grew after Russian President Vladimir Putin said he and Saudi Crown Prince Mohammed Bin Salman agreed to extend output cuts on the sidelines of the weekend G-20 meeting. […]

January 4, 2018

The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, according to research firm Rystad Energy. Surging shale oil output should allow the United States to dethrone Russia […]