Opec flags risk to oil demand from Ukraine war and inflation
Brent falls as low as $97.44 during Tuesday’s session
Brent falls as low as $97.44 during Tuesday’s session
Supply disruption fears mount following hefty sanctions on Russian banks
The US is to release 50m barrels of oil from strategic reserves
China ramps up operating rates to meet a spike in diesel demand
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Saudi state oil producer joins other oil majors who have reported strong results in recent weeks
Ministers agreed on Sunday to increase oil supply from August to cool climbing prices
Failure pushes Brent crude prices close to $77 a barrel, the highest since 2018
Brent futures nudge past $60 a barrel, boosted by supply cuts among key producers
Mass rollouts are likely months away and subject to regulatory approvals
Hopes for a swift economic recovery in China limited losses
But prices are still 40% down for the year so far
Pace of economy also pushes oil lower as demand declines
Demand for crude slumps as coronavirus pandemic continues
Worries about oversupply, IMF warning on a deep recession kept gains in check
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Demand has been hit hard by measures to halt the spread of Covid-19
Gains extended Friday’s more than 3% surge after US air strike killed Iranian commander
Bond yields slip back on news of fresh European Central Bank stimulus measures
US sanctions on oil exporters Iran and Venezuela pointed to as reasons for the surge
Shares rise as much as 5.5% in London after analyst rates shares as ‘outperform’
China and US agreed to halt additional tariffs in a deal on Sunday
Company is considering a back-up option of selling a stake in itself to a strategic investor
Officials tols importers to stop buying Iranian crude from November
Markets remain supported as Opec curbs on supply remain in place
Weak dollar also supports prices as Opec-led effort to curb production starts to pay off
But crude remains below recent highs as signs of oversupply linger
Opec and Russia has curbed output in a bid to support prices
US, Russia undermine efforts by Opec to tighten supply
Saudi Arabia and Russia lead effort to curb production by 1.8m barrels
OPEC and 10 other producers have cut oil output by about 1.8m barrels per day since January
Further price rises have been stopped by high supplies from OPEC producers
OPEC and some non-OPEC states including Russia had agreed to cut production
Rising US oil output contributing to ineffectiveness of Opec-led cuts
Cartel agrees to prolong curbs on supply for another nine months
White House budget plan would sell off half emergency stockpile to raise $16.5bn
Oil prices jump close to 2% after world’s two biggest producers extend production cut
Recent price falls driven by seasonal factors and rise in non-Opec output, says Al-Falih
Steep price falls likely to force Opec members to extend production cuts
Russian exports remain high and rig count in US continues to rise
Countries had agreed cuts in order to reduce the global supply glut depressing prices
Concern over rise in inflation as price of oil surges after Opec agrees deal to cut output
Market jitters cause fall of 1% and traders expect further volatility in coming days
Iran and Russia say they would likely support output limit due to commence shortly
Deal between Opec and non-Opec members to curb crude output ‘possible’
Output will be reduced to 32.5-33.0 million barrels per day from about 33.5 million
Biggest weekly loss of year on cards as investors ignore talk of Opec production freeze
Iran says it will co-operate with other producers to stabilise markets ahead of energy forum
Bid to rein in output that has been consistently outpacing demand
Dollar edges away from recent peaks scaled on expectations the US Federal Reserve will raise interest rates
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