Oil reverses gains hitting six-year high on OPEC+ crisis
Oil in New York reversed gains as the U.S. dollar rose Tuesday morning.
OPEC
Oil and dollars: why the UAE is risking a falling-out with OPEC+
The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
OPEC+ deal fails, leaving oil market tighter as prices surge
OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices.
OPEC+ crisis deepens as Saudi Arabia refuses to budge
Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.
OPEC+ standoff persists with inflationary price spike at stake
OPEC+ allies were locked in a tense diplomatic standoff on Friday amid a dispute that threatens to send oil prices sharply higher.
OPEC+ oil deal hangs in the balance as key member rebels
The OPEC+ alliance descended into bitter infighting after a key member blocked a deal at the last minute, forcing the group to postpone its meeting and casting doubt on an agreement that could ease a surge in oil prices.
Oil jumps back above $73 as report points to falling stockpiles
Oil climbed back above $73 a barrel after an industry report pointed to a big decline in US crude inventories ahead of an OPEC+ meeting that’s expected to lead to the group returning more supply to the market.
Oil extends drop as covid concerns surface ahead of OPEC+ meet
Oil extended losses as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output.
Oil steady near $74 with focus turning to upcoming OPEC+ meeting
Oil held near $74 a barrel as investors focused on an OPEC+ meeting this week that may pave the way for more supply from the group.
Oil set for weekly gain as focus turns to upcoming OPEC+ meeting
Oil is heading for a fifth weekly advance, the longest winning streak since December, as stockpiles shrink and the market tightens ahead of an OPEC+ meeting that will consider pumping more crude.
UAE eyes first net-zero by 2050 goal among major Petrostates
The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries (OPEC) to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil.
Saudi Arabia says OPEC+ has a role in containing inflation
Saudi Arabia’s Energy Minister said the OPEC+ alliance has a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel.
Oil rally drives brent toward $75 as market tightens, curbs ease
Oil extended a powerful rally, with global benchmark Brent closing in on $75 a barrel, after data pointed to a substantial draw in US crude stockpiles and top traders predicted further gains in prices.
Saudis increase oil prices for Asia customers as market tightens
Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above $70 a barrel and OPEC forecast that global demand would heavily outstrip supply over the rest of the year.
Brent tops $70 as OPEC+ flags tightening market before meeting
Brent oil advanced above $70 a barrel after the OPEC+ alliance forecast a tightening global market ahead of a production policy meeting.
This time is different: outside OPEC+, oil growth stalls
“This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil world, it looks like this time really will be.
Will oil hit $80 this summer?
India, the world's third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured oil prices.
OPEC+ sticks with plans to gently hike supply as demand recovers
OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India.
Historic oil glut amassed during pandemic almost gone
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers.
Oil set for best week since early March on better demand outlook
Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.
Is a new global oil supercycle looming?
Energy Voice considers the prospect of an oil supercycle and its potential supply crunch, rising demand, and triple digit oil prices.
A key oil spread points to price war erupting as supply expands
A price war may be looming in the global oil market as rising output from OPEC+ and the Middle East boosts the competitiveness of the region’s shipments, potentially forcing other suppliers to discount their barrels.
Oil falls as India virus cases surge, OPEC+ opts to boost output
Oil fell after OPEC+ decided to increase output from next month and coronavirus cases in India surged, potentially sapping demand in the world’s third-biggest importer.
OPEC+ agrees to gradually boost oil output in coming months
OPEC+ agreed to increase oil production gradually from May to July, responding to both internal and external pressure to supply more crude to the recovering global economy.
Oil pares gain with OPEC+ to choose between hike or holding cuts
Oil pared an earlier increase in New York ahead of a high-stakes OPEC+ policy meeting, with producers debating whether to extend deep supply curbs or ease them.