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Oil prices up; strong demand outweighs surprisingly big Opec+ output hike
HOUSTON] Oil prices rose nearly 2 per cent on Monday as signs of strong demand more than offset the impact of a higher-than-expected Opec+ output hike for August and fresh concerns about the potential impact of US tariffs.
Oil shrugs off OPEC+'s bigger hike as tight market provides support
Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of U.S. tariffs, with prices reversing early losses as a tight physical market lent support.
The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of ...
Doomsday scenarios about peaking demand or an Asian market implosion are driving current bearish oil views. While OPEC has ...
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Wall Street analysts predict oil futures will fall below $60 per barrel by the end of the year as the Organization of the ...
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OPEC+ jolted markets by announcing it would flood the market with more oil.
The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts ...
Goldman Sachs commodity analysts are sticking to their forecast for Brent to average $59 a barrel by the fourth quarter of this year and $56 in 2026, following a bigger-than-expected production rise ...
Crude oil futures were lower following OPEC+’s announcement to quicken supply hikes. Goldman Sachs said the cartel could unveil a 550,000 barrel-a-day increase for September.
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