OPEC+ announced a new system to set oil production quotas, aiming to reward investment and stabilize markets. The Maximum Sustainable Capacity (MSC) mechanism will assess members’ production potential for 2027. Gulf producers and other members are expected to increase spending to expand output under the new system. The MSC review runs from January to September […]
OPEC
Trump confirms call with Maduro as tensions escalate
CARACAS: US President Donald Trump confirmed on Sunday that he had recently spoken with Venezuelan President Nicolas Maduro, as tensions between the two countries reached a new peak. Read More: Trump says Venezuela airspace should be considered ‘closed’ The revelation came amid a significant US military buildup in the Caribbean and accusations from Caracas that Washington […]
Oil prices rise
SINGAPORE – Oil prices climbed on Monday as optimism grew that the U.S. government shutdown could soon end, boosting demand in the world’s top oil consumer and offsetting concerns about rising global supplies. Brent crude futures increased 47 cents, or 0.74%, to $64.10 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 50 cents, […]
Oil edges up but set for second week of losses
SINGAPORE: Oil prices rose slightly on Friday after three days of declines, as markets remained cautious over excess supply and slowing demand in the U.S., though Brent and WTI are on track for a second consecutive week of losses. Brent crude futures increased 21 cents, or 0.33%, to $63.59 a barrel, while U.S. West Texas […]
Oil prices edge higher as oversupply worries ease
TOKYO/BEIJING – Oil prices rose slightly on Thursday as concerns about global oversupply eased following recent market pressure from weaker demand. Brent crude futures climbed 17 cents, or 0.27%, to $63.69 a barrel, while US West Texas Intermediate (WTI) futures increased 18 cents, or 0.3%, to $59.78. The modest rebound came after oil prices hit […]
Crude oil prices edged lower on Wednesday
BEIJING – Oil prices dropped slightly on Wednesday as global markets slumped and the US dollar strengthened, while traders evaluated the outlook for supply amid new OPEC+ production adjustments. Brent crude futures fell by 6 cents, or 0.09%, to $64.38 a barrel by 0706 GMT, after hitting a near two-week low in the previous session. US […]
Oil prices rise as OPEC+ pauses production hikes
SINGAPORE – Oil prices climbed in early Asian trade on Monday after OPEC+ decided to delay production hikes in the first quarter of next year, easing growing fears of a global supply glut. According to market data, Brent crude futures rose by 47 cents, or 0.73%, to $65.24 a barrel, while U.S. West Texas Intermediate […]
Oil prices dip for third month
SINGAPORE – Oil prices edged lower on Friday, marking a third consecutive monthly decline, as a stronger U.S. dollar curbed investor appetite for commodities and growing global supply offset the impact of Western sanctions on Russian exports. Brent crude futures slipped 33 cents, or 0.51%, to $64.67 a barrel by 0027 GMT, while U.S. West […]
Oil prices dip after surge but remain set for strong weekly gain
NEW DELHI – Oil prices edged lower in early Friday trade, giving up some of the sharp gains from the previous session but staying on track for a weekly increase, as new U.S. sanctions on Russia’s top oil producers stoked global supply concerns. Brent crude futures slipped 36 cents, or 0.55%, to $65.63 a barrel, […]
Oil Prices Dip as Gaza Ceasefire Lowers Market Risk Premium
SINGAPORE – Oil prices slipped slightly on Friday as traders reacted to easing geopolitical risks following a landmark ceasefire agreement between Israel and Hamas, marking the first phase of US President Donald Trump’s plan to end the Gaza war. Brent crude futures were down 7 cents at $65.15 per barrel by 03:38 GMT, while US […]