Aerial view of Olmeca oil refinery belonging to the Petroleos Mexicanos (PEMEX) company, located in Paraiso, Tabasco state, Mexico, May 20, 2024. Yuri Cortez | Afp | Getty Images Crude oil futures fell Thursday after rising U.S. stockpiles sent a bearish signal to the market and the Federal Reserve dialed back interest rate cut expectations … Read more
U.S. crude oil rose more than 1% Wednesday, extending this week’s rally as OPEC and the Department of Energy see steady demand this year. The Department of Energy raised its global consumption growth forecast to 1.1 million barrels per day, up from 900,000 bpd previously. The increased demand implies a supply deficit with world production … Read more
Crude oil futures were little changed Tuesday as OPEC stuck to its demand forecasts, counting on steady economic growth this year. Oil prices rallied more than 2% on Monday and have now recovered most of the losses from last week. The market had sold off to four-month lows after OPEC+ decided to increase crude production … Read more
Platform Eureka, an offshore oil and gas platform operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Tim Rue | Bloomberg | Getty Images Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in … Read more
Private fishing boats near offshore petroleum drilling rig in the Gulf of Mexico. Ron Buskirk | Getty Images Crude oil futures were on pace Friday for a third straight weekly loss on worries that demand may be softening even as OPEC+ plans to increase production. U.S. crude oil and global benchmark Brent sold off earlier … Read more
A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, U.S., March 17, 2023. Bing Guan | Reuters Crude oil futures rose for a second day Thursday as weak jobs data has boosted investor that the Federal Reserve will cut interest rates this year. Fed futures trading … Read more
Yasir Al-Rumayyan, chairman of Saudi Arabian Oil Co. (Aramco), speaks during a news conference in Dammam, Saudi Arabia, on Sunday, Nov. 3, 2019. Mohammed Al-Nemer | Bloomberg | Getty Images Crude oil futures rebounded slightly Wednesday but hovered near a four-month low as a decision by OPEC+ to increase production later this year continued to … Read more
Platform Ellen and Elly, offshore oil and gas platforms operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Tim Rue | Bloomberg | Getty Images U.S. crude oil fell nearly 2% on Tuesday, extending a recent losing streak to erase most of its gains for … Read more
The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images Crude oil futures were little changed on Monday as investors tried to parse the impact OPEC’s weekend decision on production policy will have on the market. OPEC+ agreed to extend 3.6 million barrels per … Read more
An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images U.S. crude oil was on pace Friday for its worst month of the year, ahead of an OPEC+ meeting this weekend during which the cartel will review its production levels. U.S. oil is down … Read more
