International crude oil prices of Brent hit their highest level since April 2024 on Thursday, July 4, holding above the $87/barrel-mark after industry data showed a decline in US inventories. The surge in crude prices followed a larger-than-expected decline in US crude stocks after the US Energy Information Administration (EIA) […]
opec output cut
In the first week of June, investors will keenly eye the ongoing Lok Sabha election developments, the upcoming Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI), domestic and global macroeconomic indicators, auto sales figures, foreign fund inflow, crude oil prices, and global cues. Also Read: Bulls […]
Crude oil prices rose by more than $1 per barrel on Tuesday, May 28, on the expectations that the Organization of the Petroleum Exporting Countries and allies (OPEC+) will maintain the current crude supply curbs, while a weaker US dollar made the commodity more attractive to holders of other currencies. […]
The International Energy Agency (IEA) on May 15 lowered its forecast for 2024 oil demand growth, widening the gap with the oil producer group Organisation of Petroleum Exporting Countries (OPEC) in terms of the expectations for this year’s global oil demand outlook. The divide between the IEA and OPEC sends […]