The Crude oil soared 2.18% and settled at $52.61 per barrel after OPEC agreed to cut production by 1.2 million barrels per day during the…
Crude Oil Prices
OPEC and allies just agreed to cut oil production by 1.2 million barrels per day
- Major oil producers have reached a preliminary deal to cut oil production and boost the market.
- The alliance is currently aiming to take 1.2 million barrels per day off the market, Iranian Energy Minister Bijan Zangeneh told CNBC.
- OPEC has agreed to exempt Iran from cutting production, Zangeneh said.
U.S. Is Now A Net Oil Exporter After 75 Years
The U.S. has become the world’s top fuel supplier. 📰
Crude Oil: China’s Unipec to buy U.S. Crude oil again after Xi-Trump tariff truce
Oil prices extended gains \ The world consumes nearly 100 million barrels of oil a day.
Oil prices rise on expectations of Crude Oil production cuts around from the world
Russia And Canada Ready To Reduce Crude Oil Output, Oil Price , Stocks Bounces Back.
Premier Rachel Notley announced Sunday that the province will mandate a cut to oil production of 325,000 barrels per day in a bid to reduce a glut in storage and ease a massive price differential for western Canadian oil.
Crude Oil’s next move depends on Saudi Arabia and Trump
Last month was crude oil’s worst in a decade, battered by supply concerns and global politics. Trump and Saudi Arabia could determine oil’s next move:…
Optimism Over End to Oil Glut
Crude posted its biggest gain in almost two months as the world’s largest oil exporters prepare to discuss global supplies.
Futures rose 2.4 percent in New York on Monday after registering the worst weekly swoon in more than 2 1/2 years. All eyes are on this week’s G20 gathering in Argentina that will include Saudi Crown Prince Mohammed Bin Salman and Russian President Vladimir Putin. That event will be followed by a key OPEC meeting next week in Vienna.
$50 oil is bad for the US, Goldman Sachs commodity chief warns
Goldman Sachs contradicts Trump: $50 oil is bad for the US, commodity chief warns
$50 oil is bad for the U.S. because it hurts American drillers and threatens to create problems in the credit market, Goldman Sachs’ Jeff Currie warns.
President Donald Trump has been cheering oil’s plunge into a bear market and urging Saudi Arabia to drive the cost of crude even lower.
Currie thinks Saudi Arabia and Russia will prevail in convincing Trump that price-boosting production cuts are necessary at this week’s G-20 meeting.
Trump’s quest to drive down oil prices turns the screws on American drillers
After a stunning plunge in the price of oil over the last seven weeks, President Donald Trump has rooted for oil prices to fall even further.
Yet the U.S. oil and gas industry, a pillar of Trump’s political base, might be decidedly likely less enthusiastic.
Russia’s energy ministry is discussing potential oil production cuts
Russia’s energy ministry is discussing potential oil production cuts with local producers and will continue the production cut talks to come up with a position…
U.S. crude is plunging from nearly four-year highs six weeks ago to its lowest level since early December.
The slump reflects a fundamental change in the outlook for the oil prices. A month ago, traders were concerned that a looming shortage of oil…