OPEC and its allies agreed at a meeting on Thursday to stick to plans to raise oil output by 400,000 barrels per day (bpd) from December, despite calls from the United States for extra supply to cool rising prices.
read more... 05/11/2021
Crude oil prices moved sideways on Tuesday ahead of weekly U.S. supply reports expected to show a rise in crude inventories and ahead of OPEC+ meeting. Hence, Brent crude ended rather flat at $84.72 a barrel. U.S. WTI crude lost 0.2% to end at $83.91 a barrel.
read more... 03/11/2021
Crude oil prices increased slightly on Monday amid expectations that OPEC+ would stick to existing production quotas at their meeting on Thursday. Hence, Brent crude added 0.4% to settle at $84.71 a barrel. U.S. WTI crude ended at 84.05 a barrel, increasing by 0.6% day-on-day.
read more... 02/11/2021
Oil prices extended losses on Thursday, on previous news of an increase in US crude reserves. However, the market recovered as OPEC+ announced forecasts of a larger-than-expected drop in global stocks this year. Hence, Brent oil slipped by 0.3% to $84.32 a barrel and WTI crude edged 0.2% higher at $82.81 a barrel.
read more... 29/10/2021
Oil prices continued their steady uptrend on Tuesday, with the benchmarks hitting their highest levels in almost seven years amid limited supply from particularly OPEC and on growing global demand. Hence, Brent crude rose slightly by 0.5% to settle at $86.40 a barrel. U.S WTI crude increased by 1% to close at $84.65 a barrel.
read more... 27/10/2021