opecplus
Crude oil prices have remained volatile this year due to geopolitical tensions and an uncertain outlook for global supply and demand. Brent and WTI futures prices peaked at $90 per barrel (bbl) and $87 per barrel (bbl) respectively in early April before pulling back to around $83 per barrel and $78 per barrel currently. In May, oil prices stabilised within a narrow range, with Brent futures fluctuating between $81 bbl and $84 bbl. Year-to-date, both Brent and WTI futures are up by approximately 5%, while the spot markets have shown greater strength, rising by about 10%. Oil prices found some s...
Euronews (English)
Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts. Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organisation noted Sunday. Saudi Arabia led the pack by extending its previously implemented cut of 1 million barrels daily through the end of 2024's second quarter. Lower oil and natural gas prices hit Eni's earnings in the fourth quarterMiddle East tensions fuel chances of oil price surgeBig oil rewards execs for increas...
Euronews (English)
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