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Oil falls more than 4% on rising OPEC+ supply, COVID-19 spikes

Oil falls more than 4% on rising OPEC+ supply, COVID-19 spikes 04/05/2021 | 03:21pm EDT 1 Message : Required fields NEW YORK (Reuters) -Oil fell 4% a barrel on Monday, as rising output from OPEC+ and the threat of another severe COVID-19 wave countered signs of a strong economic rebound in the United States. Brent crude for June fell settled at $62.15 a barrel, down $2.71, or 4.2%. U.S. West Texas Intermediate settled at $58.65 a barrel, shedding $2.80, or 4.6%. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to hike production monthly from May to July. OPEC member Iran, exempt from making voluntary cuts, is also boosting supply. [OPEC/O]

United statesFlorence tanDavid gregorioBarbara lewisAndrew cawthorneAlex lawlerLaila kearneyBob yawgerOrganization of the petroleum exporting countriesTexas intermediatePetroleum exporting countriesHenry romeஒன்றுபட்டது மாநிலங்களில்புளோரன்ஸ் பழுப்புடேவிட் க்ரிகாரியோபார்பரா லெவிஸ்

Indian refiners deepen cuts to Saudi oil purchases in May - sources

Article content NEW DELHI Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. Energy relations between India, the world’s third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked. We apologize, but this video has failed to load. Try refreshing your browser, or Indian refiners deepen cuts to Saudi oil purchases in May - sources Back to video New Delhi blames cuts by the Saudis and other oil producers for driving up crude prices as its economy tries to recover from the pandemic.

Saudi arabiaUnited statesLisa shumakerArindam bagchiAhmad ghaddarJohan sevredrupNidhi vermaSaudi aramcoOrganization of the petroleum exporting countriesPetroleum exporting countriesSunday saudi aramcoசவுதி அரேபியாஒன்றுபட்டது மாநிலங்களில்லிசா ஷூமகேர்அரிந்தம் பாகிநிதி வெர்மா

05Apr2021 Market Close: Oil Prices Plummet As COVID Cases Soar, WTI Settles At 58 75, DOW Closes At New High Up 374, Nasdaq +1 7%, Bitcoin Stable 59000

05Apr2021 Market Close: Oil Prices Plummet As COVID Cases Soar, WTI Settles At 58 75, DOW Closes At New High Up 374, Nasdaq +1 7%, Bitcoin Stable 59000
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Oil down 5% as rising OPEC+, Iranian output weighs

Oil down 5% as rising OPEC+, Iranian output weighs
metro.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metro.us Daily Mail and Mail on Sunday newspapers.

United statesFlorence tanDavid gregorioLaila kearneyPhil flynnBarbara lewisAlex lawlerAndrew cawthorneBob yawgerOrganization of the petroleum exporting countriesPrice futures groupPetroleum exporting countriesTexas intermediateHenry romeஒன்றுபட்டது மாநிலங்களில்புளோரன்ஸ் பழுப்பு

Oil drops below $64 as rising OPEC+, Iranian output weighs

Oil drops below $64 as rising OPEC+, Iranian output weighs
metro.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metro.us Daily Mail and Mail on Sunday newspapers.

United statesCity ofUnited kingdomFlorence tanJeffrey halleyBarbara lewisAndrew cawthorneOrganization of the petroleum exporting countriesPetroleum exporting countriesTexas intermediateHenry romeஒன்றுபட்டது மாநிலங்களில்நகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்புளோரன்ஸ் பழுப்புஜெஃப்ரி ஹாலே