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Oil, OPEC
Oil prices fall on supply glut fears despite OPEC+ output cut extension
Oil prices fell by more than 1% on Friday and cemented weekly losses as analysts projected a supply surplus next year on weak demand despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.
Oil Holds Tight Range After OPEC+ Extended Output Cuts
Oil prices continued to trade in a tight range despite OPEC+’s decision to push back a series of supply increases amid growing concerns over weaker demand and a looming supply surplus.
Oil ends lower after OPEC+ again delays phaseout of production cuts
Oil futures finished lower on Thursday after the Organization of the Petroleum Exporting Countries and its allies, as expected, agreed to further postpone a proposed unwinding of production cuts in the face of ample global supply and shaky demand from China.
Russian oil flowing to Czech Republic again
Czechia resumes Russian oil imports via Druzhba pipeline
"The supply was restored this morning, and oil is once again flowing through the Druzhba pipeline to the Czech Republic," said Mariusz Wnuk, the general director of Orlen Unipetrol. Read also: Austria and Slovakia abandon Druzhba pipeline connection project with Russia Wnuk expressed gratitude to the Czech government and the State Material
Russian oil flowing to Czech Republic again after interruption
Russian oil is once again flowing to the Czech Republic via the Druzhba pipeline, after a temporary outage. Deliveries via the pipeline were resumed on Friday morning, Mariusz Wnuk, director of the company Orlen Unipetrol,
Oil flow to Czech Republic through Russia's Druhzba pipeline resumes after unexplained shutdown
Oil delivery to the Czech Republic from Russia through the Druhzba pipeline has resumed after it was interrupted two days ago, official said
4h
Oil prices end at their lowest in 3 weeks after OPEC+ fails to allay supply worries
Oil futures settled lower on Friday to tally losses for the week, a day after a decision by the Organization of the Petroleum ...
8h
on MSN
The US and other crude producers will take more oil market share from OPEC in the coming years, Bank of America says
The US and other oil-producing nations will account for the bulk of crude supply growth in 2025, Bank of America said.
14h
Oil set for weekly loss on surplus fears despite OPEC+ cut extensions
Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone ...
14h
Saudi Arabia Is Losing Its Iron Grip on Global Oil Markets
Rising U.S. production and internal OPEC+ pressure limit the kingdom’s sway over prices. Trump is a new wild card.
1d
OPEC Plus Postpones Plan to Increase Oil Output for Three Months
The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other ...
2d
on MSN
Oil Seen Below $60 by Middle of New Trump Term, Survey Shows
Banks are gearing up for US oil prices to fall below $60 a barrel by the middle of President-elect Donald Trump’s new term in ...
21h
UAE non-oil business activity growth holds steady in November, PMI shows
Growth in the United Arab Emirates' non-oil private sector activity held steady in November, while improved demand conditions ...
E&E
2d
Trump gets second chance to drill ANWR. Will oil companies bite?
The Biden administration reversed course, freezing exploration for oil in ANWR, but President Joe Biden didn’t galvanize ...
1d
Oil Patch in Canada Has $24 Billion Shield Against Trump Tariffs
The expansion of Canada’s Trans Mountain pipeline represented a $24 billion bid to help the country’s oil producers reduce ...
1d
on MSN
Shell and Equinor form UK North Sea oil and gas joint venture
By Louise Rasmussen, Ron Bousso and Nerijus Adomaitis COPENHAGEN/LONDON/OSLO (Reuters) -Shell and Norway's Equinor will merge ...
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