Tag Archives: Opec

Oil climbs ahead of OPEC+ meeting next week

Oil prices climbed on Friday on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weakness in the global economy loomed over the market. Brent crude futures were up $1.59, or 1.7%, to $93.95 a barrel by 11:19 a.m. …

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Brent near $80 as market shrugs off Omicron

Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week. Brent crude rose by 60 cents, or 0.8%, to $79.20 a barrel by 12 p.m. …

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US calls on OPEC and its allies to pump more oil

U.S. President Joe Biden’s administration on Wednesday urged OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to the global economic recovery. The request reflects the White House’s willingness to engage major world oil producers for more supply to help …

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