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Oil

IEA reduces oil demand growth forecast as prices climb amid rising Middle East tensions

The International Energy Agency reduced its prediction for 2024 oil demand growth, citing “exceptionally weak" OECD deliveries, a largely complete post-Covid-19 rebound and a...

Oil rises as Middle East worries offset US crude stock buildup

Oil prices rose on Wednesday after two straight days of losses, as the deadlock in Gaza ceasefire talks renewed uncertainty about the security of...

OPEC’s oil supply cuts stall as Iraq keeps pumping above its quota

OPEC’s latest oil supply cuts stalled as Iraq which has often flouted the group’s agreements produced above its quota for a second month, according...

Oil prices slip after OPEC+ extends voluntary oil output cuts until mid-year

Oil prices edged lower Monday after oil cartel OPEC+ agreed to extend voluntary output reductions until the second quarter in an effort to support...

IEA raises 2024 oil demand forecast for third month in a row

The International Energy Agency (IEA) on Thursday made a further upward revision to its 2024 oil demand growth forecast, though its projection remains dramatically...

Oil set for annual loss as OPEC+ and war fail to support prices

Oil headed for the biggest annual drop since 2020 as war and OPEC+ production cuts failed to propel prices higher in a year dominated...

Oil edges lower on signs of further build in crude sockpiles

Oil steadied after posting the largest drop in two weeks on signs of a US stockpile build coupled with weak technical indicators, Bloomberg reports. West...

Oil prices on track for first weekly rise in two months

Oil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the...

OPEC+ agrees to deepen voluntary oil output cuts

OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by...

Oil rises on expectations of further OPEC+ supply cuts

Oil futures rose more than $1 on Monday, extending gains on the prospect of OPEC+ deepening supply cuts to shore up prices after four...
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