Oil prices broadly flat after falling on dollar surge
Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.
IEA raises 2024 oil demand forecast, sees surplus looming in 2025
Global oil demand is expected to expand by 920 kb/d this year, the International Energy Agency said on Thursday, while it expects global supply to exceed consumption by more than 1 mb/d next year, primarily due to a slowdown in China's economy.
Oil Edges Lower, Likely Weighed by OPEC’s Demand Forecast Trim
Oil prices were mixed in early Asian trade. Market sentiment was likely weighed after OPEC cut its demand forecasts, Westpac said.
Oil bounces back on short-covering after OPEC's gloomy demand forecast
Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand forecast cut, while the dollar hit a seven-month high, capping crude's gains. Brent crude futures were up 61 cents,
Oil Prices Rise Slightly as Markets Worry About Demand
WTI crude futures recover from a sluggish opening and close higher for the second consecutive day. But gains have been small as prices continue under pressure amid faltering global demand. The recent
Oil prices edge up slightly amid OPEC demand cut forecast
Oil prices on the New York fuel exchange are slightly rising, but they remain close to this month's lowest levels. Brokers say investors are focused on the fuel demand outlook after OPEC countries lowered their oil demand growth forecasts for this and next year.
Oil slips towards 2-week low on gloomy demand outlook
Oil prices slipped on Wednesday, trading near their lowest in two weeks, a day after OPEC lowered global oil demand growth forecasts for 2024 and 2025 and amid demand concerns in China. OPEC cited weakness in China,
Oil prices end higher after tapping a 2-week low
Oil futures finished higher on Wednesday as traders weighed prospects for energy demand, U.S. production, and oil and gas ...
Global Oil Market Faces a Million-Barrel Glut Next Year, the IEA Says
Global oil markets face a surplus of more than 1 million barrels a day next year as Chinese demand continues to falter, ...
Ovintiv to buy oil-rich assets in Canada's Montney shale for $2.38 billion
By Vallari Srivastava (Reuters) -Shale producer Ovintiv said on Thursday it was acquiring oil assets from Paramount Resources ...
Oil prices inch higher but stay on track for a weekly loss
Oil futures edge higher Thursday, consolidating after slumping in the face of a surging U.S. dollar, as investors weighed a ...
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IEA sees 2025 oil market in supply surplus
LONDON, Nov 14 (Reuters) - The world's demand for oil will fall short of supply by more than 1 million barrels per day (bpd ...
Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say
Given that oil demand growth next year probably won't be much more than 1 million barrels a day, a full unwinding of OPEC+ ...
E.P.A. to Charge Oil Companies First-Ever Methane Fee, but Will It Last?
The Biden administration is imposing a fee on large energy companies that spew excess methane, a potent greenhouse gas.
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Big Oil Shouldn't Celebrate Shell's Dutch Court Win
But the devil is in the details. On Tuesday, the Hague appellate court overturned a 2021 ruling that decreed the oil and ...
Biden admin touts job well done replenishing oil reserves despite depleting them by half over last 4 years
The Energy Department announced the end of replenishing the nation's strategic oil reserves, which were depleted by nearly ...
Biden EPA to charge first-ever ‘methane fee’ for emissions waste by oil and gas companies
Oil and natural gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain ...
Oil and gas are gift of god, Azerbaijan president tells climate summit
Oil and gas are a “gift of god”, Azerbaijan ’s president Ilham Aliyev told the Cop29 climate conference on Tuesday. Speaking ...