Tag: OPEC+

However, the decision has sent oil prices tumbling, exacerbating fears of a potential recession fueled by ongoing trade disputes.

“Expectations of progress in peace negotiations between Russia and Ukraine and a potential easing of U.S. sanctions on Russian oil pressured prices lower.”

Andon Pavlov, an analyst at Kpler suggested that this surge in refined product shipments allows oil producers to bypass crude production limits

Brent crude futures rose by $1.18, or 1.70%, to $70.64 per barrel at 11:23 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed

This strategic move allows Nigeria to stay within its OPEC+ quota of 1.5 million barrels of crude per day

Despite some doubts, market fundamentals remain strong, as indicators of economic growth recovery are showing in several regions.

The International Energy Agency (IEA) has projected that global oil supply will exceed demand by over 1 million barrels per day (bpd) in 2025, despite ongoing production cuts by the ...

West Africa-focused Tullow Oil has reported a rise in profit for the first six months of 2024, driven by higher crude prices. The company's performance has been bolstered by favorable ...

Oil futures reached a seven-week high on Thursday as new data indicated a cooling U.S. jobs market, enhancing hopes that the Federal Reserve might cut interest rates this year. Additionally, ...

The head of the Institute for Energy Security (IES), Nana Amoasi VII, has predicted a notable rise in fuel costs in the coming weeks. On April 3, 2024, the National ...