The crude market remained unimpressed even after the OPEC+ announced production cuts for 2024
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Oil prices edge lower as fresh voluntary cuts by OPEC+ disappoint traders
The benchmark Brent crude declined to $82.83 a barrel, down 0.32 percent, while West Texas Intermediate (WTI) slipped 0.26 percent on Friday morning trading hours
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Oil prices hold above $80/bbl ahead of OPEC+ meeting
Prices tumbled in the middle of last week after OPEC+ postponed a ministerial meeting to November 30, reportedly to iron out differences on production targets for African producers
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Crude prices tumble 5% over two days as OPEC+ meeting delayed
OPEC+ announced that the ministerial meeting has been rescheduled from November 26 to November 30, without providing a specific reason for the delay
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Traders adding geopolitical risk premium to lead to further surge in crude prices, say analysts
The market’s foremost concern revolves around potential disruptions in supplies from regions like Iran
$100 oil price
Goldman Sachs no longer anticipates that oil will hit $100 in 2023
The bank’s latest analysis comes amid apprehensions of a wider banking crisis impacting growth potentials
Brent Crude
India’s Russian crude oil imports create another record in January
Iraq, Saudi Arabia, and the UAE also expanded their share of Indian imports in the month by one percentage point each
Crude
Why UAE petrol prices are increasing in 2022
Petrol prices are unlikely to come down significantly more until other oil producers are able to increase supplies
Crude price
Oil steady as investors weigh Middle East tension against trade woes
While oil has given up most of its gains since the attack on Saudi Arabia as the kingdom restores lost output quicker-than-expected, crude is still set for a monthly advance
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India set to increase oil imports amid declining domestic production
India’s crude oil production has fallen by over 6 percent during April-August this year
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Oil edged lower on signs of returning Saudi output as doubts linger
Saudi Aramco is returning most of its domestic oil refineries to full capacity after cutting back on processing to meet the crude demands of customers
Amin Nasser
Oil resumes gains on rising Gulf tension and Saudi supply doubts
Brent crude surged as much as 1.9% after jumping 6.7% last week, the biggest advance since January
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Further oil shock unlikely despite regional tensions, experts say
Industry analysts say that it is unlikely that oil will return to $100 a barrel
commodity trader
Opinion: Oil investors must remain diligent as Pompeo visits Abu Dhabi, Jeddah
If evidence of Iran’s suspected involvement in the attacks on Saudi Arabia is provided and the US Secretary of State warns of repercussions
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Aramco to face weeks of disruption to Abqaiq’s oil output
The company believes less than half the plant’s capacity can be restored quickly after the recent drone attack, according to sources
Crude price
Saudi Aramco attacks pose threat to India’s fiscal balance, say experts
India’s import bill could get a ‘crude’ shock if the current production disruptions push the price of oil above $70 a barrel
Abu Dhabi
OPEC+ meets in Abu Dhabi with deeper cuts off the agenda for now
Crude has lurked in the low $60s for most of the summer amid escalating tensions between the US and China