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. […]
opec output cuts
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 […]
Also Read: Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity? Brent crude futures dropped 36 cents, or 0.4 per cent, to $82.97 per barrel, while the US West Texas Intermediate (WTI) crude futures were down 28 cents, or 0.4 […]
Brent crude futures for July were last down 29 cents, or 0.35 per cent, to $83.38 a barrel. US West Texas Intermediate crude for June fell 37 cents, or 0.47 per cent, to $78.58 per barrel. Both benchmarks are set for weekly losses as investors are concerned that higher-for-longer interest […]