The Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ kept the oil output policy unchanged at their meeting conducted on Thursday, but hinted at plans to start unwinding one layer of output cuts from October, and repeated that the hike could be paused or reversed […]
opec supply cuts
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) […]
Brent futures rose four cents, or 0.1 per cent, to $85.75 a barrel, while US West Texas Intermediate (WTI) crude for August delivery remained unchanged at $81.29 from where it closed on Thursday. That put Brent on track for its highest close since April 30 for a second day in […]