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Oil prices set for weekly loss on prospect of increased supply
Oil futures edged higher in Friday dealings but remained on track for a weekly loss on expectations OPEC+ will boost production before year-end, as investors cast doubt on whether an aggressive round of monetary stimulus from China will shore up demand from the world’s largest crude importer.
Oil Price Expected to Weaken If OPEC+ Hikes Supply
Expectations that the OPEC and its allies will start unwinding voluntary output curbs of 2.2 million barrels a day starting from December is adding to market nervousness.
Commodity Roundup: Oil faces big weekly loss; BMI ups 2024 gold price forecast
Gold prices (XAUUSD:CUR) ticked lower on Friday, however, set for their third-consecutive weekly gain, as weak U.S. data strengthened the case for deeper interest rate cuts. Oil prices, on the other hand,
Oil Prices Fall as Expectations of Higher Supplies Hammer Market Sentiment
Separately, the Organization of Petroleum Exporting Countries (OPEC), and its allies, a group known as OPEC+, are currently cutting oil output by a total of 5.86 million bpd but it plans to reverse 180,000 bpd of those cuts in December.
Oil prices fall on prospects of lower Saudi Arabia price target
Oil prices dropped on Thursday, reversing earlier gains, as news of top exporter Saudi Arabia giving up its crude oil price target in preparation for expanded production weighed on the market. Brent crude futures were down 55 cents,
Oil price drops, and BP and Shell shares slide, as Saudi Arabia ‘prepares to abandon $100 crude target’ – as it happened
Saudi Arabia is reportedly ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output
Oil Prices Mixed; May be Supported by Fall in U.S. Stockpiles
Oil prices were mixed in the early Asian session, but may be supported by a fall in U.S. stockpiles.
U.S. crude oil heads for weekly loss as Saudi supplies look set to return
Prices have fallen even as conflict in the Middle East escalates, with Israel and Hezbollah trading blows in Lebanon.
1h
About 24% of oil production shut in US Gulf of Mexico due to Hurricane Helene
About 24% of crude oil production and 18% of natural gas output in the U.S. Gulf of Mexico was shut in response to Hurricane ...
4h
Oil Is Down 7% This Year: Is The Recent Slump A Portent Of Things To Come?
Oil slumped again on reports of the Saudis moving to defend their market share. But lower prices may likely persist ...
2d
Crude oil prices today: WTI prices are down 2.39% today
WTI oil has an American Petroleum Institute gravity of 39.6 degrees, considered “light.” WTI also has a sulfur content of ...
2h
US studying new visa restrictions, oil sanctions on Venezuela amid post-election standoff
The U.S. government is "studying very closely" the possibility of imposing additional sanctions on individuals in Venezuela ...
1d
on MSN
Why oil prices have plunged 3% today
The kingdom is resigning itself to a period a lower prices, sources told the FT. Oil markets spiraled on the news, falling as ...
13h
Home heating oil drops to lowest price in 14 months
The cost of home heating oil has dropped to the lowest levels since July 2023. On average, it will cost about £286.83 to fill ...
7h
on MSN
Oil steady but on track for weekly drop on firmer supply outlook
Oil prices held steady on Friday but remained on track for a weekly fall as investors weighed expectations for increased ...
The Texas Tribune
9h
Fourteen years after BP oil spill, Galveston scientists are striving to save the Gulf’s deep-sea coral
The massive 2010 oil spill damaged or killed coral in the Gulf of Mexico. Now some of the $20 billion settlement is helping ...
1d
on MSN
Gov. Newsom signs bills regulating gas and oil plant locations across California
Gov. Gavin Newsom signed three bills Wednesday that regulate the locations and operations of gas and oil drilling sites ...
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