Oil prices surged more than $1 a barrel on Monday as investors anticipated that OPEC+ producers would agree to tweak production levels at a meeting later in the day. The producers are expected to discuss how to best
Oil prices rose on Monday as tensions in the Middle East and North Africa continued to simmer, with Brent crude futures hitting a four-month high. The market was supported by concerns that unrest in the region could spread and disrupt crude supplies. Brent crude futures rose $1.43, or
Oil prices have been on a roller coaster ride in the past few months, touching multi-year highs in March before falling in the past three consecutive months. The main reason for the price swings has been concerns about global economic growth. On the one
The Organization of the Petroleum Exporting Countries (OPEC) and its allies are scheduled to meet on Monday to discuss production levels. OPEC+ may decide to keep current output levels or even cut production to bolster prices, despite supplies remaining tight.
ANZ analysts said in a note that while they expect the group to keep output unchanged, the rhetoric may be bullish as it looks to arrest the recent fall in prices. The group's rhetoric
Russia has no intention of cutting oil production at this time, and is likely to keep output steady when OPEC+ meets on Monday, the Wall Street Journal reported on Sunday, citing unidentified people familiar with the matter.
The global oil market is currently facing a number of challenges. Firstly, there is the ongoing issue of the US-China trade war, which is having a negative impact on global economic growth and oil demand
The United States on Friday rejected any linkage between the nuclear deal with Iran and the closure of investigations by the U.N. nuclear watchdog, a Western diplomat said. The diplomat's remarks