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Reuters: Saudi Arabia, Emirates to ‘hold back’ oil production in case of winter supply crisis

OPEC leaders Saudi Arabia and the United Arab Emirates are ready to provide a "significant increase" in oil production should the world face a severe supply crunch this winter, sources familiar with the thinking of its...

Oil: Unexpected increase in US inventories ‘crashes’ prices despite OPEC

U.S. oil and gasoline inventories showed an unexpected rise last week, which appeared to directly offset pressures on crude prices after OPEC+ decided to subtly increase output. In particular, as the US Energy Information Administration (EIA) informed,...

USD/CAD continues to decline, trades below 1.2850

USD/CAD sees an intraday reversal from the one-week...

Crude edged higher in anticipation of OPEC+ decisions

Oil ended Tuesday's trading with small gains as investors braced for the upcoming OPEC+ meeting which is not expected to result in any major production increase. Specifically, the September crude contract gained 53 cents, or 0.6%,...

OPEC+ sees slightly smaller oil surplus in 2022

OPEC+ sees the oil market this year slightly less supplied than expected, a day before a meeting to decide next month's crude production levels. In particular, the Joint Technical Committee (JTC) of OPEC+ which met yesterday, Tuesday,...

Oil is moving higher as hopes that OPEC+ will increase production fade

Oil prices rose in European trade on Friday as attention turned to next week's OPEC+ meeting and expectations that it will dash U.S. hopes for a supply boost. Brent futures for September, which expire on Friday, gained...