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US open: Futures under pressure as ADP report misses covid cases rise

US open: Futures under pressure as ADP report misses covid cases rise
cityindex.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityindex.co.uk Daily Mail and Mail on Sunday newspapers.

Dow Jone , Oil Stockpiles , Us Markit Services , Dow Jones , General Motors , Middle East , City Index , டோ ஜோன் , எண்ணெய் ஸ்டாக்பைல்ஸ் , எங்களுக்கு மார்க்கிட் சேவைகள் , டோ ஜோன்ஸ் , ஜநரல் மோட்டார்கள் , நடுத்தர கிழக்கு , நகரம் குறியீட்டு ,

Oil price: View: Oil price targets would make a far better goal

If you can’t hit the target, bring it closer. That seems to be the policy adopted by the OPEC+ alliance of oil producers as they make the world’s biggest-ever output cuts in an attempt to shore up oil prices.
After a meeting in January, the group’s co-leader, Saudi Arabia’s oil minister, Prince Abdulaziz Bin Salman, announced that the producers were setting themselves a new target for their output cuts restoring oil stockpiles in the developed countries of the Organisation for Economic Cooperation and Development to a new five-year average level.
They’re focusing on the OECD because its members report oil stockpiles in a (relatively) timely fashion preliminary levels for the end of December were published by the International Energy Agency last week, although they will be revised for many months to come. Whereas other countries, like China, don’t publish oil stockpile levels at all. ....

Nifty Track , Economic Times News App , Daily Market Updates , Live Business , Oil Price , Julian Lee , Oil Stockpiles , International Energy Agency , Oil Producers , நிஃப்டி டிராக் , பொருளாதார முறை செய்தி செயலி , தினசரி சந்தை புதுப்பிப்புகள் , வாழ வணிக , எண்ணெய் ப்ரைஸ் , ஜூலியன் லீ , எண்ணெய் ஸ்டாக்பைல்ஸ் , எண்ணெய் ப்ரொட்யூஸர்ஸ் ,

Oil Rallies With U.S. Supply Drop Further Draining Global Glut

(Bloomberg) Oil futures rose for an eighth straight day in New York as a decline in U.S. crude inventories further highlighted depleting global supplies.The rally of about 0.6% extended the longest streak of daily gains since February 2019. A U.S. government report showed domestic oil stockpiles fell by 6.6 million barrels to the lowest since March, though the data also pointed to gasoline supplies rising to the highest since June.Underpinning crude’s rally, the spread between Brent’s nearest contracts has surged this week in another sign of tightening supplies amid OPEC+ production curbs. Citigroup expects Brent crude to reach $70 a barrel by the end of the year, with the producer group’s output agreement helping erode inventories and demand looking stronger than expected.“It was good to see the crude draw wasn’t just from one area, but constructive that it was throughout the whole U.S.,” said Brian Kessens, a portfolio manager at Tortoise, ....

Oil Futures , Brent Crude , Oil Stockpiles , Saudi Arabia , எண்ணெய் எதிர்காலங்கள் , ப்ரெண்ட் கச்சா , எண்ணெய் ஸ்டாக்பைல்ஸ் , சவுதி அரேபியா ,

U.S. crude stockpiles plunge as refining activity picks up

The Globe and Mail
David Gaffen
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Dronebase Dronebase/Reuters
U.S. crude oil stocks plunged unexpectedly last week, tumbling by more than 6 million barrels, as refiners ramped up production rates to pre-pandemic levels in March amid rising fuel demand, the Energy Information Administration said on Wednesday.
Crude inventories fell by 6.6 million barrels in the week to Feb. 5 to 469 million barrels, compared with expectations in a Reuters poll for a 985,000-barrel rise. ....

Matt Smith , Energy Information Administration , Crude Oil , Oil Stockpiles , Oil Inventories , United States , மேட் ஸ்மித் , கச்சா எண்ணெய் , எண்ணெய் ஸ்டாக்பைல்ஸ் , ஒன்றுபட்டது மாநிலங்களில் ,

Oil Price Fundamental Weekly Forecast – Probably Due for a Correction, but OPEC+ Has Tools to Prevent a Crash

Oil Price Fundamental Weekly Forecast – Probably Due for a Correction, but OPEC+ Has Tools to Prevent a Crash
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.

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