10 Apr 2021 / 09:00 H. U.S. energy secretary, Saudi energy minister hold call Biden team had till now avoided Trump s approach to OPEC+ Saudi opens talks with call for cautious stance (Updates with start of OPEC+ meeting)
By Alex Lawler, Rania El Gamal and Vladimir Soldatkin
LONDON/DUBAI/MOSCOW, April 1 (Reuters) - OPEC+ debated on Thursday whether to keep deep oil output cuts in place or ease them after the new U.S. administration resumed Donald Trump s practice of calling OPEC leader Saudi Arabia over policy and said energy should be kept affordable.
Jennifer Granholm, the new energy secretary appointed by U.S. President Joe Biden, said on Twitter she had spoken to Saudi Energy Minister Prince Abdulaziz Bin Salman.
10 Apr 2021 / 09:00 H.
(Releads with U.S. call to Saudi Arabia)
By Alex Lawler, Ahmad Ghaddar and Rania El Gamal
LONDON/DUBAI, April 1 (Reuters) - The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC s leader before key meetings.
U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister Abdulaziz Bin Salman. We reaffirmed the importance of international cooperation to ensure affordable and reliable sources of energy for consumers, Granholm said.
Crude oil edges up on weak dollar; investors weigh rising supplies
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Last Updated: Apr 09, 2021, 08:18 AM IST
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Synopsis
Analysts expect global oil inventories to continue to fall as fuel demand accelerates in the second half of this year as the global economic recovery gathers steam.
Brent crude futures for June climbed 7 cents, or 0.1%, to $63.27 a barrel.
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SINGAPORE: Oil prices edged up in early Asian trade on Friday, supported by a weaker dollar, as investors weighed rising supplies and the impact on fuel demand from the COVID-19 pandemic.
Brent crude futures for June climbed 7 cents, or 0.1%, to $63.27 a barrel by 0106 GMT while U.S. West Texas Intermediate (WTI) crude for May was at $59.77 a barrel, up 17 cents, or 0.3%.
Brent crude futures for June climbed 7 cents, or 0.1%, to $63.27 a barrel by 0106 GMT.
U.S. West Texas Intermediate (WTI) crude for May was at $59.77 a barrel, up 17 cents, or 0.3%.
Both contracts are on track to post a 2%-3% drop this week after a decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, a group known as OPEC+, to gradually increase supplies by 2 million barrels per day between May and July.
Oil prices edged up in early Asian trade on Friday, supported by a weaker dollar, as investors weighed rising supplies and the impact on fuel demand from the COVID-19 pandemic.
Emmanuel Addeh in Abuja
Pope Francis yesterday urged the International Monetary Fund (IMF) and the World Bank to cut the debt burden of poor countries hit by the economic impact of the COVID-19 pandemic and give their governments a greater say in global-decision-making.
In a letter to the participants of the IMF and World Bank’s annual spring meeting, the pope said the pandemic had forced the world to come to terms with interrelated socio-economic, ecological, and political crises.
This is coming as the Organisation of the Petroleum Exporting Countries (OPEC) has told the International Monetary and Financial Committee (IMFC) via Video-conference that the global oil market was on the verge of collapse before its intervention to stabilise it.