Page 8 - Utput Cuts News Today

Oil is rising back above $90 per barrel after the extension of OPEC+ output cuts, but any renewed complaints about oil supply are likely to fall on deaf ears in Riyadh

West Texas Intermediate crude prices climbed 2% to $89.05 a barrel after the OPEC data came out.

OPEC+ production cuts have tightened the markets significantly and pushed crude prices higher, but at what level will OPEC face overwhelming pressure from their customers to stop doing so?

Oil’s chances of reaching $100 in the near future aren’t so very far off if the current trends in the oil markets hold, analysts from RBC Capital Markets said in an investor note on Thursday

Higher oil and higher energy prices could stoke inflation again at a time when Wall Street has raised the odds of the Fed pausing the interest rate hikes

Oil’s chances of reaching $100 in the near future aren’t so very far off if the current trends in the oil markets hold, analysts from RBC Capital Markets said in an investor note on Thursday

Oil prices on Tuesday jumped nearly 3% to the highest since November after OPEC+ heavyweights Saudi Arabia and Russia announced an extension of their respective production cuts

Saudi Arabia will extend its voluntary 1 million bpd crude oil production cut through the end of this year, according to the official Saudi Press Agency

Record shale output by U.S. producers has done little to ease tightness in medium sour crude and diesel products, sending refinery margins skyrocketing

A group of 37 economists and analysts have raised their 2023 oil price forecasts for the first time in four months saying OPEC+ output cuts will be enough to offset weak economic growth in China