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At the same time, non-member countries continue to pump crude at a record pace. Since mid-2023, OPEC+ economies have voluntarily reduced crude outflows to boost global prices.
Oil prices fell 2% on Monday after China’s stimulatory plans failed to impress traders and oil alliance OPEC lowered its demand forecast. West Texas Intermediate closed at $73.83 per barrel ...
The current oil price level is a stark difference from the 2023 highs in late September and a 28% rally in the third quarter. On Friday crude posted its third consecutive week of losses, its ...
Crude oil markets continue to move to the upside on the idea of increased demand, as OPEC recently suggested that demand is going to pick up through the rest of the year.
Saudi Arabia's oil minister says crude prices could fall as low as $50 per barrel. OPEC delegates consider this a signal that the Saudis are ready to engage in a price war.
Crude oil markets pulled back a bit during the trading session on Wednesday, reaching towards the round figure underneath before bouncing slightly. That being said, there are a lot of crosswinds ...
Crude oil markets pulled back just a bit during the early hours, but then turned around to show signs of strength yet again. Crude Oil Price Forecast – Crude Oil Markets Continue to Press the ...
Crude oil markets are waiting what OPEC will do about production as a major meeting is going on to decide whether or not the production cuts will be continued.