U.S. investment bank Goldman Sachs said the OPEC+ deal to boost oil supply supports its view on oil prices and expects modest "upside" to its summer forecast for Brent to reach $80 a barrel. OPEC+, comprising the Organization of the Petr..
Oil prices fell more than $1 a barrel on Monday, after the OPEC+ group of producers overcame internal divisions and agreed to boost output, sparking some concerns about a crude surplus as COVID-19 infections continue to rise in many countries. Bre..
Key producers of OPEC+ countries have reached a preliminary deal on gradually raising oil output until December and extension of their pact until end of 2022, an OPEC+ source told Reuters on Sunday. OPEC+ holds an online meeting later on Sunday.&n..
Brent crude oil prices averaged $73 per barrel globally in June 2021, up to $5 per barrel from May's average. According to the US Energy Information Administration's Short-Term Energy Outlook issued on July 7, 2021, they'll average $72/b ..
REUTERS Oil prices fell by more than $1 on Monday on worries over China's economy after a survey showed growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by a rise in oil output..
REUTERS KUWAIT, Sept 7 - More than 42 million old vehicle tyres dumped in Kuwait's sands have started to be recycled, as the Gulf state tackles a waste problem that created one of the world's largest tyre graveyards. The massi..
REUTERS Hurricane Ida's damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according to the latest data and historical records. Ida's 150 mile-per..
REUTERS A Swiss criminal court convicted Kuwait's Sheikh Ahmad Al-Fahad Al-Sabah, a power broker in international sports, of forgery on Friday in a trial over whether he used a bogus Kuwaiti coup plot to gain advantage over political rivals. ..
Oil prices rose for a fifth straight day on Monday with Brent at its highest since October 2018 and heading for $80 amid supply concerns as demand picks up in parts of the world with the easing of pandemic restrictions. Brent crude was up $1.15 or..
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