OPEC+ delays unwinding production cuts
13/09/2024 by Mark
The OPEC+ group, which comprises OPEC members combined with some other big oil-producing countries, has decided to delay unwinding some of its production cuts over concerns about weakening demand.
Oil prices drop as OPEC+ mulls production increases
06/09/2024 by Richard
The price of crude oil dropped slightly following reports that the OPEC+ group is likely to go ahead with unwinding some of the production cuts it has made to stabilise the market.
Weak economic data from China triggers fall in oil prices
27/08/2024 by OilStoreAdministrator
Oil prices have fallen following the release of a series of economic reports, indicating that China’s demand for crude oil may be slowing.
Analyst says shale mergers will stabilise oil prices
11/06/2024 by Richard
The wave of mergers and acquisitions (M&As) in the US shale industry will help oil prices to stabilise according to Jason Gabelman, an analyst at TD Cowen.
Oil prices slip following OPEC+ decision
10/06/2024 by Mark
At its latest meeting, the OPEC+ group has agreed to extend its current production cuts, but oil prices slipped slightly following the news.
JP Morgan revises down oil price forecast
21/06/2023 by greg
Financial services firm JP Morgan has downgraded its expectations for the price of Brent Crude this year from $90 to $81 per barrel.
IEA predicts lower oil prices next year
24/12/2021 by greg
Consumers and businesses may get some relief from high fuel prices, according to the US Energy Information Administration (EIA), which, in its latest Short-Term Energy Outlook, has downgraded its expected price for benchmark WTI and…
IEA predicts potential decline in oil prices
22/11/2021 by Mark
Oil prices may have surged to over $80 per barrel in recent weeks, but the International Energy Agency (IEA) predicts that an uptick in US oil production will help to bring some balance to the…