Oil Markets Tighten On Constant Inventory Draws
While pledges from OPEC+ members are making headlines, it is the constant inventory draws in the U.S. that are tightening oil markets.
Source: oilprice.com
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Goldman Claims Oil Prices Could Hit $107 If OPEC+ Extends Cuts Next Year
Goldman Sachs sees oil prices going as high as $107 per barrel next year if OPEC+ producers maintain their production cuts.
Source: oilprice.com
Oil Prices: Oil falls on concerns about China, winter demand, Auto News, ET Auto
Oil Prices: Both benchmarks had spiked earlier in the week after Saudi Arabia and Russia, the world's top two oil exporters, extended voluntary supply cuts to the year-end. These were on top of the April cuts agreed by several OPEC+ producers running to the end of 2024.
Source: indiatimes.com
Oil Updates: Oil prices edge up on anticipated US crude stock draw, ET Auto
Oil Updates: Brent crude futures edged up 12 cents to USD 90.72 a barrel by 0019 GMT, while U.S. West Texas Intermediate crude (WTI) futures gained 11 cents to USD 87.65.
Source: indiatimes.com
India remained top buyer of Russian Urals in Aug despite rising prices
The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.
Source: businesstoday.in