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Virus lockdowns drive oil prices to four-month low

the most since July last week, while Libya output is also gaining rapidly. The head of Saudi Aramco’s...

Oil prices fall sharply on renewed coronavirus restrictions

leads to a more fragile demand outlook, and the head of Saudi Aramco’s trading unit said traders...

OPEC+ ministers warn of continued oil demand fragility

(Bloomberg) --As OPEC+ began talks on whether to postpone January’s oil-production increase, ministers sounded cautious about the strength of global demand. Saudi Energy Minister Prince Abdulaziz bin Salman said he could see a light at the end of the tunnel thanks to the development of Covid-19 vaccines, but the market had some way to go before getting there. His counterparts from Algeria...

Oil prices rise as OPEC+ delays a decision on output hikes

. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman signaled his dissatisfaction...

OPEC+ agrees to start increasing oil production quotas in January

and Saudi Arabia. The revised deal is likely to keep the oil market in deficit throughout the first...

Oil prices near $50 on OPEC compromise, booming Asian demand

. The deal avoided a breakdown of OPEC+ unity after a tense split between Saudi Arabia and the United...

Oil prices stumble as Brent reenters contango

. The strength in Asian demand led Saudi Arabia to raise oil pricing to the region and has also...

Oil price rally stalls with Brent overbought at $50

been disrupted as a result of heavy snow. Other oil-market news: Saudi Aramco gave full contractual...

OPEC lowers demand outlook ahead of output quota review

. The 23-nation OPEC+ coalition led by Saudi Arabia and Russia will meet on Jan. 4 to consider whether...

IEA projects a global crude oversupply through 2021

of producers led by Saudi Arabia and Russia. The 23-nation network has made vast production cutbacks...

Oil prices climb past 10-month record on rallying global markets

at a Saudi Arabian port as a threat to maritime security, in its first official comments...

Oil prices dive as mutating virus chokes international travel

to its accelerated schedule of monthly meetings, Russia and Saudi Arabia said over the weekend...

U.S. projects higher oil output in 2022 from rebounding shale

will likely be gradual. While oil prices surged above $50 a barrel after Saudi Arabia last week...

IEA chief says U.S. shale is needed for now as oil prices climb

(Bloomberg) --Oil in New York climbed to a new 10-month high as the dollar declined, increasing the appeal of commodities priced in the currency. Futures rose 1.5% to above $53 a barrel, to the highest since February 2020. Prices have climbed in recent days after promises of unilateral output cuts from Saudi Arabia spurred a further rally. Oil has surged more than 45% since the end of October...

Biden’s fiscal and climate priorities may support oil prices, says Goldman Sachs

as shale producers focus on improving their finances and Saudi Arabia pledged to cut oil output...