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Tag Archives: OPEC

Crude oil falls in the midst of supply flooding, the OPEC should decrease

The oil price fell in Friday's troubled trade to its lowest level since the end of 2017, burdened by a looming crude oil surplus and a weakening economic outlook. To counteract the bulging supply, the Organization of the Petroleum Exporting Countries (OPEC) is expected to start after a resource withdrawal meeting scheduled for 6 December. The international benchmark index of …

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Oil prices are slipping in the broad market, which outweighs the expected OPEC cutbacks, given a broad sell-off

Oil slipped on Tuesday and was weighed down by broad stock market sell-offs that undercut price support earlier in the day than OPEC was expected to launch new production declines. Brent crude oil futures, the international oil price benchmark, was trading at $ 66.37 a barrel at 0.772 GMT, down 42 cents or 0.6 percent from the last close. US. …

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Oil slips on global supply even as OPEC mulls cut

NEW YORK (Reuters) – Oil futures fell about 1 percent on Monday amid global oversupply worries, but they were as well as potential eyed potential sanctions on the European Union, a possible production cut from OPEC and slightly bullish storage drawdown in US crude stocks. Brist crude was down over a pumpjack at sunset outside Scheibenhard, near Strasbourg, France, October …

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Oil rises on expected OPEC cuts, but markets wary on trade woes

SINGAPORE (Reuters) – Oil prices rose to Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards year-end. REINDEER / Christian Hartmann A rainbow is seen over a pumping jacket during sunset outside Scheibenhard, near Strasbourg, France. October 19, 2017. REUTERS / Christian Hartmann The world's largest economies, the United States and China. …

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