Oil Price Archives — Page 3 of 5

January 10, 2022 No Responses

Oil Prices Edge Up Over Supply Worries

Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent crude gained 16 cents, or 0.2%, at $81.91 a barrel at 0406 GMT, while U.S....

December 31, 2021 No Responses

Oil Heads For Biggest Yearly Gains In 12 Years

Prices of oil fell one per cent on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record...

December 2, 2021 No Responses

Oil Rises Ahead Of OPEC Meeting

Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.U.S. West Texas Intermediate (WTI) crude...

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 19, 2021 No Responses

Crude Oil Hovers Above Six-Week Low

Oil prices rose slightly on Thursday after dropping to six-week lows as investors wondered about how much crude major economies would release from their strategic reserves and how much that would ease global crude demand pressures. Prices fell to six-week...

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 5, 2021 No Responses

Indigenous Firms Invest $10b In Oil, Gas Production

The Independent Petroleum Producers Group (IPPG) says its members have invested about 10 billion dollars in oil and gas production in Nigeria from 2003 till date. The group, made up of 24 indigenous oil and gas companies, also pledged to...

November 1, 2021 No Responses

Oil Falls As China Rolls Out Reserves

Oil prices dropped on Monday as China’s release of gasoline and diesel reserves eased concerns over tight global supply, while investors cashed in ahead of a November 4, 2021 meeting of major crude producers that could increase future production targets....

September 22, 2021 No Responses

Nigeria In Talks With OPEC+, To Raise Quota

Nigeria is in talks with OPEC+ to raise its oil production quota to about 2.2 million barrels per day, the OPEC member’s petroleum minister told reporters on Tuesday in Dubai.“What we’re getting right now is 1.74 million barrel...

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.....

September 7, 2021 No Responses

Crude Oil Extends Losses

Oil prices extended losses on Monday, falling more than 1%, after the world’s top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling demand concerns and that global markets are well supplied.Brent crude&...

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...

August 3, 2021 No Responses

Crude Oil Prices Slide Over Higher Output, Others

Oil prices fell by more than $1 on Monday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC&n...