Page 29 - Pec News Today

While oil prices collapsed in the first half of the year and hit a 15-month low last week, analysts and banks believe its set to bounce back.

Freight rates for supertankers have plunged by 75% in a month since OPEC+ announced a new round of oil production cuts.

U.S. President Biden's national security aide meets Saudi crown prince amid tensions. Strategic relations discussed in a meeting with American officials, Indian and UAE advisers.

U.S. President Joe Biden’s top national security aide has met with Saudi Arabia’s...

The recent oil price collapse seems to be out of touch with fundamentals, but that doesn’t mean oil prices can’t fall even further…

Oil prices rose 2% as U.S. recession fears eased. Brent crude and U.S. West Texas Intermediate gained, supported by a healthy jobs report. Find out more about the market conditions, demand, and supply outlook in OPEC's latest report.

While oil prices rallied on Friday morning, demand concerns have dominated oil markets this week despite multiple supply shocks and bullish catalysts.

Earlier this year, Russia pledged to cut its oil production by half a million barrels per day, but analysts have been confused by the country’s strong exports.

Oil prices rose on Friday but fell for the third straight week due to concerns about the U.S. banking crisis and recession fears, despite a better-than-expected jobs report. Experts say there is a big disconnect between oil balances and oil prices, but expect a price correction upward in the coming weeks.

Growing economic concerns in both the U.S. and China have pushed oil prices lower, sending ripples across other industries exposed to energy.