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May 17, 2019 05:42 PM IST
US sanctions on Iran have cut the OPEC member's crude exports further in May, adding to supply curbs resulting from an OPEC-led pact. Meanwhile, rising tension in the Middle East this week has raised concern about additional supply disruption.
May 14, 2019 08:23 PM IST
Vienna-based OPEC trimmed its estimate of oil supply growth from outside the group in 2019 and said the rapid rise in production of US tight oil, another term for shale, was moderating.
May 13, 2019 09:08 PM IST
Spare capacity is the extra oil a producing country can bring onstream and sustain at short notice, providing global markets with a cushion in the event of natural disaster, conflict or any other cause of an unplanned supply outage.
May 07, 2019 09:40 AM IST
Brent crude oil futures were at $71.09 per barrel at 0341 GMT, 15 cents, or 0.2 percent, below their last close.
May 04, 2019 08:39 AM IST
The EIA has raised its Brent crude-oil price forecast for 2019 to USD 65 a barrel, up from its earlier projected USD 63 due to the tighter global oil market.
May 02, 2019 05:54 PM IST
The Organisation of the Petroleum Exporting Countries will pursue this policy 'despite current troubles in several of its member countries.'
May 01, 2019 09:00 AM IST
Brent crude futures hit a session high of $73.27 per barrel and settled 76 cents, or 1.1 percent, higher at $72.80. Last week, Brent hit a six-month high above $75.
April 30, 2019 07:20 PM IST
US light crude is seen averaging $60.23 per barrel this year, compared with $58.92 forecast in March.
April 30, 2019 05:06 PM IST
Here's a roundup of key happenings in the commodities market.
April 27, 2019 03:09 PM IST
Putin said that the deal is effective until the end of June and that he hoped Saudi Arabia will not have to raise its oil production to offset possible exports curbs from Iran due to the US sanctions.
April 26, 2019 07:31 AM IST
Brent crude futures were at $74.09 per barrel at 0029 GMT, down 26 cents, or 0.4 percent, from their last close.
April 17, 2019 06:35 PM IST
International benchmark Brent crude futures were up 34 cents, or 0.47 percent, at $72.06 by 1130 GMT, having hit an intraday peak of $72.27.
April 16, 2019 08:51 AM IST
Brent crude oil futures were at $71.08 a barrel at 0111 GMT, down 10 cents, or 0.1 percent, from their last close. Brent ended down 0.5 percent on Monday.
April 15, 2019 08:59 AM IST
Brent crude oil futures were at $71.46 a barrel at 0233 GMT, down 9 cents, or 0.1 percent, from their last close, having hit their highest since Nov. 12 on Friday at $71.87.
April 13, 2019 04:28 PM IST
The producer group's supply cuts have been aimed largely at offsetting record crude production in the United States.
April 12, 2019 07:48 AM IST
International Brent crude oil futures were at $71.01 per barrel at 0042 GMT, up 18 cents, or 0.3 percent, from their last close.
April 11, 2019 10:23 PM IST
Venezuelan crude production has dropped below 1 million barrels per day (bpd) because of US sanctions. Iranian supply could fall further after May if, as many expect, Washington tightens its sanctions against Tehran.
April 11, 2019 07:51 AM IST
International benchmark Brent futures were at $71.57 per barrel at 0056 GMT, down 16 cents, or 0.2 percent, from their last close.
April 10, 2019 02:12 PM IST
Traders said, oil prices hardened amid reports of ongoing turmoil in the OPEC member country Venezuela. They also maintained a cautious outlook over recent violence in Libya, and the US sanctions on Iran which might affect further production supplies.
April 10, 2019 07:52 AM IST
International benchmark Brent futures were at $70.83 per barrel at 0056 GMT, up 22 cents, or 0.3 percent, from their last close.
April 09, 2019 12:59 PM IST
The investment bank said in a note dated April 8 that it now expects benchmark Brent crude prices to average $66 per barrel in 2019, compared with its previous estimate of $62.50.
April 09, 2019 08:03 AM IST
International benchmark Brent futures touched their strongest level since last November at $71.34 per barrel on Tuesday, before losing ground to $70.96 per barrel by 0158 GMT, down 14 cents, or 0.2 percent, from their last close.
April 05, 2019 10:51 AM IST
International benchmark Brent futures dropped 15 cents, or 0.2 percent, to $69.25 a barrel by 0455 GMT, having touched $70.03 in the previous session, the highest since Nov. 12.
April 05, 2019 07:33 AM IST
International benchmark Brent futures dropped 23 cents, or 0.3 percent, to $69.17 a barrel by 0040. On Thursday, they closed 9 cents higher after touching a session high of $70.03, the highest since Nov. 12.
April 04, 2019 10:24 AM IST
Brent futures were up 5 cents at $69.36 a barrel by 0224 GMT. On Wednesday, Brent dipped 6 cents, after touching $69.96, the highest since Nov. 12, when it last traded above $70.
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