Global Oil Price Archives — Page 2 of 3

November 26, 2021 No Responses

Oil Dips, Awaits OPEC+ Response To U.S.-Led Oil Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas...

November 15, 2021 No Responses

OPEC To Sustain Cautious Oil Production

The Organization of the Petroleum Exporting Countries (OPEC) and allied oil-producing countries rebuffed pressure from U.S. President Joe Biden to pump significantly more oil and lower gasoline prices for American drivers, deciding to stick with...

November 6, 2021 No Responses

Shell Restarts Production At Offshore Gulf Of Mexico

Shell said on Friday it had restarted production at its offshore Mars and Ursa in the Gulf of Mexico and began exporting oil and gas through a transfer facility, which was shut due to damage from Hurricane Ida. The oil...

October 25, 2021 No Responses

TotalEnergies CEO: Spike In Prices Of Gas To Stabilise After Winter

The Chief Executive of TotalEnergies, Patrick Pouyanne said at the weekend that the recent gas price spike had been caused by a strong demand rebound post COVID-19 and prices were likely to stabilise after winter. “I don’t think it (gas price...

October 16, 2021 No Responses

Brent Oil Hits $85

For the first time since 2018, Brent crude on Friday topped $85 a barrel in London, the latest milestone in a global energy crisis that has seen prices soar. Bloomberg reports that the global benchmark rose above the key level...

October 5, 2021 No Responses

Oil At 7-Year High As OPEC Decides On Increase

Oil prices jumped Monday after OPEC and allied oil-producing countries stayed with their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. The decision Monday by the Vienna-based oi...

September 16, 2021 No Responses

Crude Oil Prices Extend Gains

Oil prices climbed on Thursday morning, extending the previous day’s solid gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer. Brent crude oil rose 18 cents, or 0.2%, to $75.64 a.....

August 24, 2021 No Responses

Oil Rises As Full U.S. Clearance For COVID-19 Vaccine Stokes Demand

Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand will follow a potential step up in U.S. coronavirus vacc...

August 14, 2021 No Responses

Oil Extends Losses As Covid-19 Slows Demand

Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.Reute...

July 19, 2021 No Responses

Oil Producing Nations Seal Deal To Control Prices

Oil producing nations have agreed to increase their output, with the aim of reducing prices and easing pressure on the world economy. Under the arrangement, the Opec cartel and partners such as Russia will boost supply from August after prices...

July 1, 2021 No Responses

Oil Rises As Stockpiles Fall

Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge.Brent crud...

June 15, 2021 No Responses

Oil Prices Climb As Demand Outlook Improves

Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply.Brent crude was up 51 cents, or...

April 29, 2021 No Responses

Crude Oil Extends Gains

Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising COVID-19 cases in India, Japan and Brazil.Brent crude for June edged up 8 cents, or 0.1%, to...

April 22, 2021 No Responses

Oil Prices Drop As Covid-19 Surge Dents Demand Outlook

Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer.Brent crude futures for June declined 95 cents, or 1.4%, to $65.62...