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👤Arthur Greene
🕔December 10, 2016
OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.
With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC Russia to play ball, the market’s focus will now switch to compliance with the agreement.…
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👤Arthur Greene
🕔August 11, 2016
As the increase in US crude inventories and the already high Saudi Arabian production strengthened fears that a major supply glut that will remain till at least mid-next year and will keep impacting the market.
There was a slump in global crude prices as the International Brent Crude futures edged down by 10 cents to settle at $43.95 per barrel, and WTI Crude futures was trading 10 cents lower at $41.95 per barrel at 6:50GMT.…
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👤Lisa Harris
🕔August 9, 2016
- Al-Sada’s comment gives crude upward momentum
- US Production forecasts still see crude lower
The price of crude oil made a significant rally between on Monday evening and Tuesday morning, as it rose above $45 per barrel when the president of the Organization of Petroleum Exporting Countries (OPEC) assured the market of a rise in September.…
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