OPEC+ meets to review compliance with oil cuts

DUBAI/LONDON/MOSCOW (Reuters) – OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic. OPEC+ is unlikely to change its output policy, which currently calls for reducing output by 7.7 million

Oil steady as vaccine news counters rise in virus cases

TOKYO (Reuters) – Oil prices were little changed on Tuesday, trapped in the narrow trading band of the past three weeks as investors gauged hopes for a recovery in oil demand against fears of new lockdowns due to a growing number of coronavirus cases. Prices were offered some support by

Oil slips as traders eye supply cut easing at OPEC meeting

SINGAPORE (Reuters) – Oil slipped in early Asian trade on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices. Brent crude LCOc1 fell 27 cents to $42.97 a barrel by 0114 GMT

Oil falls below $43 a barrel on virus fears, still heads for weekly gain

LONDON (Reuters) – Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery. The United States reported more than 55,000

Oil prices climb more than $1 ahead of WTI June contract expiry

SINGAPORE (Reuters) – Oil prices jumped by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading. Brent crude LCOc1

Oil prices drop amid supply glut, fears of 2nd coronavirus wave

SINGAPORE (Reuters) – Oil prices slid nearly $1 a barrel on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures LCOc1 were down 73 cents, or

Brent oil jumps nearly 3% after Trump lays out plan for easing coronavirus restrictions

TOKYO (Reuters) – Oil prices rose on Friday with Brent gaining nearly 3% after President Donald Trump laid out guidelines on reviving a U.S. economy ravaged by the coronavirus pandemic that has punched a huge hole in global demand for crude and refined products. Brent was up by 75 cents,

Crude futures climb ahead of OPEC+ meeting

MELBOURNE (Reuters) – Crude futures rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with the coronavirus-driven collapse in global oil demand. Brent crude LCOc1 futures rose 2.5%, or 81 cents, to $33.65

U.S. crude hits 17-year low as lockdowns, restrictions spread

LONDON (Reuters) – Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand. U.S. crude Clc1 was down $1.15 cents, or 4.27%, at $25.80 per barrel by

Oil slides again, squeezed between coronavirus demand hit and price war bite

SINGAPORE (Reuters) – Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers. Brent crude fell $1.13 to $32.72 a barrel by