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OPEC+ had been planning to start unwinding cuts from October 2024.

Oil rises after OPEC+ pushes back output hike

Oil prices rose today after OPEC+ decided to delay itsplanned output increase by three months to April 2025, and extend the full unwind of production cuts by a year until the end of 2026.

Business • 05 Dec 24

Brent crude futures rose 76 cents, or 1.06%, to $72.59 a barrel by 1131 GMT

Oil prices nudge higher ahead of OPEC+ meeting

Oil prices climbed nearly 1% today, as investors hone in on the outcome of an OPEC+ meeting later this week.

Business • 03 Dec 24

World oil prices fell over 3% last week on eased supply concerns from the Israel-Hezbollah conflict and 2025 surplus forecasts

Oil up on upbeat China data, Israel-Lebanon ceasefire

Oil prices rose more than 1% today, supported by strong factory activity in China and escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire deal.

Business • 02 Dec 24

Brent crude was down 45 cents, or 0.6%, at $72.83 a barrel by 1214 GMT

Oil prices head for 3% weekly decline

Oil prices fell today, heading for a weekly drop of more than 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC+ is expected to extend output cuts.

Business • 29 Nov 24

Brent and WTI have lost between 2.5% and 3% so far this week

Oil prices up as Israel says ceasefire violated

Oil prices ticked up today after Israel and Lebanese armed group Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on south Lebanon.

Business • 28 Nov 24

For the week, Brent is set to fall over 2% while WTI is set to decline more than 3%

Oil prices set for weekly loss on China demand fears

Oil prices edged lower today, heading for a weekly loss, as investors digested waning Chinese demand and a possible slowing of the US Federal Reserve's interest rate cut path.

Business • 15 Nov 24

Brent crude futures were up 70 cents to $72.98 a barrel at 1401 GMT.

Oil prices rebound 1% after dollar-related sharp declines

Oil prices rose about 1% today, paring some of the sharp declines seen earlier this week due to a stronger US dollar and worries about rising supply amid slow demand growth.

Business • 14 Nov 24

Brent futures were 65 cents, or 0.9%, lower at $71.24 a barrel at 1434 GMT.

Oil slips towards 2-week low on gloomy demand outlook

Oil prices slipped today, 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.

Business • 13 Nov 24

World oil prices fell today, after China's stimulus plan disappointed investors

Oil falls as China stimulus fails to boost sentiment

Oil prices fell by more than $2 a barrel today after China's stimulus plan disappointed investors seeking fuel demand growth in the world's second-biggest oil consumer and as the US dollar edged higher.

Business • 11 Nov 24

All the while the market was trying to guess how President-elect Donald Trump's policies would affect supplies.

Oil steadies as investors digest US election fallout

Oil prices stabilised today, hovering around flat the day after an extremely volatile session, pressured by a strong dollar and lower crude imports in China but supported as some US drillers cut output while bracing for Hurricane Rafael.

Business • 07 Nov 24

Brent crude oil futures were down 33 cents, or 0.44%, at $75.20 per barrel by 1654 GMT

Oil falls as Trump victory pushes dollar higher

Oil prices slipped today as investors weighed a strong dollar against the potential for re-elected US President Donald Trump's foreign policy plans to squeeze oil supply.

Business • 06 Nov 24

OPEC+ groups the Organization of the Petroleum Exporting Countries plus Russia and other allies

OPEC+ agrees to delay December output hike for a month

OPEC+ has agreed to delay a planned December oil output increase by one month, the group said, as weak demand notably from China and rising supply outside the group maintain downward pressure on the oil market.

Business • 04 Nov 24

Exxon Mobil said it was boosted by strong oil output in its first full quarter that includes volumes from US shale producer Pioneer Natural Resources

Exxon's profit beats as volume offsets price weakness

Exxon Mobil has today beaten Wall Street's third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from US shale producer Pioneer Natural Resources.

Business • 01 Nov 24

Chevron's overall third quarter earnings fell compared to the same time last year

Chevron beats quarterly profit expectations

Chevron has today beaten Wall Street estimates for third-quarter profit, helped by higher oil and gas output, but its earnings fell from a year ago.

Business • 01 Nov 24

TotalEnergies had warned earlier this month that its results would take a hit as its margin for converting crude oil into refined fuels tumbled 65%

TotalEnergies Q3 income hits three-year low

French oil major TotalEnergies has reported third-quarter adjusted net income at a three-year low of $4.1 billion, slightly missing expectations as refining margins and upstream outages dragged down earnings.

Business • 31 Oct 24

BP's third quarter profits drop by 30% amid weaker oil trading

BP's Q3 profit slumps by 30% as oil demand sags

BP has today reported a 30% drop in third quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results.

Business • 29 Oct 24

World oil prices are on track for a weekly gain of almost 3%, as tensions in the world's top oil-producing region, the Middle East, and a restart in Gaza ceasefire talks kept traders on edge

Oil heads for weekly gain on Middle East tensions

Oil prices were heading for a weekly gain of almost 3% as today's prices ticked higher, with traders kept on edge by simmering tensions in the Middle East ahead of a planned resumption in Gaza ceasefire talks in the coming days.

Business • 25 Oct 24

Brent crude futures were up $1.10, or 1.51%, at $74.16 a barrel at 1308 GMT.

Oil prices regain some ground after 7% loss last week

Oil prices rose today, recouping some of last week's more than 7% decline on worries about demand in China, the world's top oil importer, and easing concerns about potential supply disruptions in the Middle East.

Business • 21 Oct 24

World oil prices are set to fall more than 6% this week - their biggest weekly decline since September 2

Oil prices fall on China demand woes

Oil futures fell on Friday and were on track for a weekly drop of 8% after data showed China's economic growth slowed and refinery output shrank for the sixth consecutive month.

Business • 18 Oct 24

Crude fell more than 4% to nearly a two-week low on Tuesday

Oil prices edge higher, Middle East uncertainty persists

Oil prices steadied today as uncertainty looms over what may happen next in the Middle East conflict, while an outlook for ample supply next year added downward pressure.

Business • 16 Oct 24

Brent crude futures fell $3.28, or 4.2%, to $74.18a barrel at 1118 GMT

Oil plunges 4% as Iran supply disruption concerns ease

Oil prices tumbled more than 4% to a near two-week low today due to a weaker demand outlook and after a media report said Israel is willing to not strike Iranian oil targets, easing fears of a supply disruption.

Business • 15 Oct 24

The oil market remains on edge about potential Israeli attacks on Iranian oil infrastructure

Oil falls 2% as OPEC cuts oil demand growth view

Oil prices declined about 2% today, wiping out all of last week's gains, as OPEC's lowering of its 2024 and 2025 global oil demand growth view again added to concerns of weak fuel demand with China's oil imports falling for a fifth month in a row.

Business • 14 Oct 24

World oil prices are set for a second weekly gain

Oil eyes weekly climb on potential Mideast disruption

Oil prices softened today but were set for a second weekly gain as investors weighed the impact of hurricane damage on US demand against any broad supply disruption if Israel attacks Iranian oil sites.

Business • 11 Oct 24

BP said a drop in refining margins would reduce its Q3 profit by $400m to $600m from the previous three months

BP says weak refining margins to hit third quarter profit

Weak refining margins due to a slowdown in global demand for fuel and lower oil trading results will dent BP's third-quarter profit by up to $600m, the British oil major said today.