WTI will increase for the second day in a row on Thursday. OPEC + is reportedly looking to increase oil production by 500,000 bpd starting in January. Risk flows help WTI stay in positive territory. After falling below $ 45 earlier in the day, the barrel of West Texas Intermediate turned north and climbed to […]
Tag: OPEC
OPEC + considers continuing current production cuts in January – Reuters
The producers of the Organization of Petroleum Exporting Countries and its allies, the group known as OPEC +, are discussing a renewal of current oil production cuts in January, followed by a gradual increase of around 500,000 barrels a day since February, Reuters reported Thursday. Meanwhile, sources familiar with the matter told Reuters that the […]
Firmer WTI, approaching $ 45 level ahead of EIA and OPEC +
WTI prices reverse the recent drop and point to $ 45.00. OPEC + is expected to decide on the extent of current production cuts. The EIA’s weekly report on crude oil supply stands out on today’s economic calendar. Crude prices WTI they regain their smile after two consecutive daily falls and again target the key […]
WTI struggles for a direction of around $ 45.00 / bbl before API, data
OPEC + said it will meet again on December 3. The API weekly report on crude stocks is as follows. US Benchmark Barrel Prices for Light Sweet Crude they alternate gains with losses close to $ 45 on Tuesday. WTI attentive to the API, OPEP + After touching last week’s highs above $ 46 per […]
WTI remains bearish below $ 45 as OPEC meeting ends without agreement on production cuts
Crude prices remain under pressure Monday. OPEC + will reportedly continue to discuss production cuts on Tuesday. WTI is up more than 25% in November. Crude prices they are still on track to end the last day of November in negative territory as investors await OPEC + decision on production strategy. At time of writing, […]
WTI recovers from lows, remains near $ 46.00 before OPEC + meeting
WTI prices keep buying interest unchanged near $ 46.00. The two-day OPEC + meeting begins on Monday. Vaccine hopes continue to sustain demand for crude oil. WTI barrel prices add to Friday’s gains and managed to bounce away from lows initially touched in the $ 44.50 area. WTI with focus on OPEC +, data The […]
Gold and dollar fall, Brexit and the OPEC + meeting in the spotlight
This is what you need to know to trade today Monday, November 30: A data-packed week begins with stocks, gold and the dollar falling together as November draws to a close. New Brexit optimism is supporting the pound while oil struggles with OPEC + disagreements. Advances in vaccines and the publication of data are in […]
OPEC + leans toward extending production cuts
OPEC +, a group of major oil producers led by Saudi Arabia and Russia, is thinking about delay the planned production boost, thus compensating for the slowdown in economic activity due to the second wave of coronavirus and increased Libyan oil production, sources have told Reuters. The producers were due to increase production by 2 […]
WTI climbs to 3-month highs above $ 43.00
WTI prices rise and retake $ 43.00. Growing hopes of a recovery in demand for crude oil support prices. API, EIA weekly reports below on the economic calendar. Crude oil prices they extend the upside to the beginning of the week and motivate WTI to break above the $ 43.00 per barrel level in early […]
OPEC + needs to compensate for excess supply in the period from May to October
OPEC +, the group of major producers led by Russia and Saudi Arabia, produced more oil in the period from May to October, violating the ceiling set in the cut pact production record agreed in April to help rebalance an oversupplied market. The poster pumped up 2,346 million barrels per day (bpd) more than allowed […]
