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Top oil producers agree on modest output boost from August

Julia Zappei, Agence France-Presse
Posted at Jul 19 09:02 AM

The world's leading oil producers agreed on Sunday to continue to modestly boost output from August reaching a compromise after the United Arab Emirates blocked a deal earlier this month. Read more »

WTI oil price hits 2014 peak after OPEC+ talks fail

Agence France-Presse
Posted at Jul 06 07:21 PM

New York oil struck a 2014 pinnacle near $77 per barrel Tuesday after OPEC+ crude producers failed to agree on lifting output despite soaring demand. Read more »

S&P Global raises oil price outlook by $5 per barrel for 2021

Warren de Guzman, ABS-CBN News
Posted at Jun 22 02:26 PM

The financial information and analytics company said Brent Crude may average $65 per barrel for 2021, $60 per barrel for 2022, and $55 per barrel for 2023. Read more »

Oil demand set to exceed pre-pandemic levels in 2022: IEA

Richard Lein, Agence France-Presse
Posted at Jun 11 05:20 PM

Oil demand is set to rise above pre-pandemic levels by the end of next year, the IEA said Friday, but producers have sufficient capacity to rise to the challenge. Read more »

Stocks, oil and bitcoin sink in volatile trading

Roland Jackson, Agence France-Presse
Posted at May 20 08:36 AM

Stock markets, oil prices and bitcoin sank Wednesday as a raft of issues ranging from rising inflation to China's cryptocurrency crackdown spooked investors. Read more »

Oil rebounds, but gains limited as India reels from COVID-19

Aaron Sheldrick, Reuters
Posted at Apr 27 03:36 PM

Oil prices rebounded on Tuesday after falling in the previous session, but gains are likely to be capped amid growing concern about fuel demand in India, the world's third-biggest crude importer now slammed by spiraling new coronavirus cases. Read more »

Oil falls as India's COVID-19 surge dents demand outlook

Reuters
Posted at Apr 26 08:15 PM

Oil prices fell $1 on Monday on fears that surging COVID-19 cases in India will dent fuel demand in the world's third-biggest oil importer, while an expected supply increase from OPEC+ also added to pressure. Read more »

OPEC+ expected to stay cautious in face of market jitters

Agence France-Presse
Posted at Apr 01 12:17 PM

Oil producing countries grouped together under the OPEC+ alliance led by Saudi Arabia and Russia are expected to agree an extension to their current output cuts at a meeting on Thursday.   Read more »

Brent crude oil price surges above $70 a barrel

Agence France-Presse
Posted at Mar 08 04:27 PM

Brent crude oil surged more than two percent Monday following a missile attack on facilities owned by energy giant Aramco in Saudi Arabia, and on optimism about the demand outlook as the global economy recovers. Read more »

OPEC+ maintains caution on output despite market recovery

Benoît Pelegrin, Agence France-Presse
Updated as of Mar 05 09:05 AM

The OPEC group of oil producers and its allies decided after talks on Thursday to allow only a slight rise in crude output despite a recovery in prices, amounting to less than a third of the output boost market observers had predicted. Read more »

Inflation likely within 4.3 to 5.1 percent in February: Bangko Sentral

ABS-CBN News
Posted at Feb 26 05:36 PM

Inflation could settle between 4.3 percent to 5.1 percent range in February, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Friday. Read more »

Oil hovers near 13-month highs as storm hits US output, Fed assures rates staying low

Julia Payne, Reuters
Posted at Feb 25 07:32 PM

Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that US interest rates will stay low, and a sharp drop in US crude output last week due to the storm in Texas. Read more »

Oil prices rise to highest in a year on US growth optimism, crude supply restraint

Roslan Khasawneh, Reuters
Posted at Feb 05 03:27 PM

Oil prices climbed on Friday to their highest levels in a year, extending a run of strong gains on signs of economic growth in the United States and a continued commitment by producers to hold back crude supply. Read more »

OPEC+ 'optimistic' for 2021 rebound in oil demand

Agence France-Presse
Posted at Feb 04 07:11 AM

Members of the OPEC group of oil producers and their allies met Wednesday and expressed confidence in prospects for a global economic recovery and attendant rise in crude oil demand.   Read more »

Oil prices edge lower as COVID-19 lockdowns overshadow demand prospects

Florence Tan, Reuters
Posted at Jan 25 04:12 PM

Oil prices slipped for a second straight session on Monday as renewed COVID-19 lockdowns raised fresh concerns about global fuel demand.  Read more »

Oil slips on coronavirus fears, strong dollar

Bozorgmehr Sharafedin, Reuters
Posted at Jan 19 11:42 AM

Oil prices fell slightly on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the coronavirus outweighed a better-than-expected quarterly rebound for China's economy.   Read more »

Oil seen around $60 per barrel this year as vaccines drive economic recovery

Art Fuentes, ABS-CBN News
Posted at Jan 13 01:59 PM

Oil prices are set to rebound to above $60 per barrel this year as vaccines are rolled out and economies around the world begin to recover, an oil analyst said on Wednesday.  Read more »

OPEC+ resumes talks on 2021 oil policy amid disagreements

Reuters
Posted at Dec 03 02:27 PM

OPEC and Russia resumed talks on Thursday in a bid to define policies for 2021 after an initial round of discussions this week failed to bring a compromise on how to tackle weak oil demand amid a second coronavirus wave. Read more »

OPEC+ postpones talks to Dec 3 amid disagreements - sources

Rania El Gamal, Ahmad Ghaddar and Olesya Astakhova, Reuters
Updated as of Dec 01 08:14 AM

OPEC and allies led by Russia postponed talks on oil output policy for 2021 to Thursday, three sources said on Monday as key players still disagreed on how much oil they should pump amid weak demand due to the coronavirus pandemic. Read more »

OPEC, allies mull extending output cuts

Benoît Pelegrin, Agence France-Presse
Posted at Nov 29 04:17 PM

The OPEC oil producers' club and its allies will hold a virtual meeting on Monday and Tuesday to finalize an expected extension to production cuts as the coronavirus pandemic continues to weigh on global demand.   Read more »