Oil prices declined from an early trade of over $119 a barrel, a peak since 2022, caused by Saudi Arabia and other OPEC members cutting supplies due to disruptions from the expanding US-Israeli war with Iran....
Oil prices surged nearly 30% to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran....
Global oil prices surged on Monday as escalating hostilities in the Middle East rattled energy markets, raising fears of a prolonged supply disruption from one of the world’s most critical oil-producing regions....
OPEC Plus agreed to raise April oil output by 206,000 barrels per day, citing stable market conditions and falling inventories, while maintaining flexibility to gradually reinstate its 1.65 million bpd voluntary production cuts if needed. ...
Iran's Revolutionary Guards warned on Saturday that no vessel would be allowed to pass through the Strait of Hormuz, a chokepoint through which nearly a fifth of the world’s oil supply passes....
OPEC+ may consider a larger-than-planned output increase of 411,000 barrels per day at a meeting on Sunday, Reuters said quoting two sources close to the talks....
The US Energy Information Administration (EIA) forecasts in its October Short-Term Energy Outlook (STEO) that US crude oil production will average 13.5 million barrels per day (mmb/d) in both 2025 and 2026, both slightly higher than the agency’s September forecast....
