by pallanus | May 26, 2020 | Business News
The market was buoyed by comments from Russia that its oil output had dropped almost to its target of 8.5 million barrels per day (bpd) for May and June under the supply cut deal agreed by major producers (OPEC+). Illustration: Reuters Oil prices rose on Tuesday,...
by pallanus | May 22, 2020 | Business News
World crude prices have staged a modest recovery from last month’s dizzying collapse, prompting analysts to wonder whether the worst of the 2020 oil crisis is over. The commodity tanked for the first time into negative territory in April, plagued by...
by pallanus | May 19, 2020 | Business News
Oil prices rose on Tuesday, extending gains for a fourth straight session. The market was also boosted by signs that output cuts agreed by the Organization of the Petroleum Exporting Countries (OPEC) and others including Russia, a group known as OPEC+, are being...
by pallanus | May 18, 2020 | Business News
A month after sellers had to pay nearly $40 a barrel to get rid of US oil futures, the next watershed moment looms with the expiry of the June contract on Tuesday – and so far there is little sign of a repeat of the historic plunge. The extent of the damage that...
by pallanus | May 11, 2020 | Business News
Oil prices slid nearly $1 a barrel on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down 73 cents, or 2.4%,...
