OPEC secretary general Barkindo dies unexpectedly The Secretary General of the OPEC oil cartel, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, the Nigerian National Petroleum Corporation said today. Business • 06 Jul 22
OPEC secretary general Barkindo dies unexpectedly The Secretary General of the OPEC oil cartel, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, the Nigerian National Petroleum Corporation said today. Business • 06 Jul 22
Oil falls 2% on uncertainty over future OPEC+ output Oil prices sank about 2% today as OPEC+ confirmed it would only increase output in August as much as previously announced despite tight global supplies, but left the market wondering about future output. Business • 30 Jun 22
Oil falls 2% on uncertainty over future OPEC+ output Oil prices sank about 2% today as OPEC+ confirmed it would only increase output in August as much as previously announced despite tight global supplies, but left the market wondering about future output. Business • 30 Jun 22
Oil prices rise for fourth day on supply worries Oil prices gained for a fourth session in a row today with tight supply worries offsetting concerns about a weaker global economy. Business • 29 Jun 22
Oil prices rise for fourth day on supply worries Oil prices gained for a fourth session in a row today with tight supply worries offsetting concerns about a weaker global economy. Business • 29 Jun 22
Oil rises after US crude drawdowns, supply tightness Oil prices edged higher today after US crude inventories fell more than expected amid high demand for fuel and OPEC+ agreed to boost crude output to compensate for a drop in Russian production. Business • 02 Jun 22
Oil rises after US crude drawdowns, supply tightness Oil prices edged higher today after US crude inventories fell more than expected amid high demand for fuel and OPEC+ agreed to boost crude output to compensate for a drop in Russian production. Business • 02 Jun 22
Oil up on EU's Russian oil ban, end of Shanghai curbs Oil prices firmed today after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its Covid-19 lockdown in Shanghai. Business • 01 Jun 22
Oil up on EU's Russian oil ban, end of Shanghai curbs Oil prices firmed today after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its Covid-19 lockdown in Shanghai. Business • 01 Jun 22
OPEC cuts 2022 oil demand forecast again on Ukraine war OPEC has today cut its forecast for growth in world oil demand in 2022 for a second month in a row, citing the impact of Russia's invasion of Ukraine, rising inflation and the resurgence of the Omicron coronavirus variant in China. Business • 12 May 22
OPEC cuts 2022 oil demand forecast again on Ukraine war OPEC has today cut its forecast for growth in world oil demand in 2022 for a second month in a row, citing the impact of Russia's invasion of Ukraine, rising inflation and the resurgence of the Omicron coronavirus variant in China. Business • 12 May 22
OPEC+ supply gap widens in March OPEC+ produced 1.45 mln barrels per day (bpd) below its production targets in March, as Russian output began to decline following sanctions imposed by the West, a report from the producer alliance seen by Reuters showed. Business • 19 Apr 22
OPEC+ supply gap widens in March OPEC+ produced 1.45 mln barrels per day (bpd) below its production targets in March, as Russian output began to decline following sanctions imposed by the West, a report from the producer alliance seen by Reuters showed. Business • 19 Apr 22
Not possible to replace potential Russia oil loss: OPEC OPEC told the European Union that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more. Business • 12 Apr 22
Not possible to replace potential Russia oil loss: OPEC OPEC told the European Union that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more. Business • 12 Apr 22
Oil rises on Russian oil production constraints Oil prices climbed today as Russian oil and gas condensate production fell to 2020 lows and OPEC warned it would be impossible to replace potential supply losses from Russia. Business • 12 Apr 22
Oil rises on Russian oil production constraints Oil prices climbed today as Russian oil and gas condensate production fell to 2020 lows and OPEC warned it would be impossible to replace potential supply losses from Russia. Business • 12 Apr 22
Biden to release of 1m barrels of oil a day President Joe Biden has launched the largest release ever from the U.S. emergency oil reserve and challenged oil companies to drill more in an attempt to bring down gasoline prices that have soared during Russia's war with Ukraine. Business • 31 Mar 22
Biden to release of 1m barrels of oil a day President Joe Biden has launched the largest release ever from the U.S. emergency oil reserve and challenged oil companies to drill more in an attempt to bring down gasoline prices that have soared during Russia's war with Ukraine. Business • 31 Mar 22
Oil prices jump again as EU considers Russian oil ban Oil prices soared more than 6% today, with global benchmark Brent crude climbing above $115 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities. Business • 21 Mar 22
Oil prices jump again as EU considers Russian oil ban Oil prices soared more than 6% today, with global benchmark Brent crude climbing above $115 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities. Business • 21 Mar 22
Oil soars as Russian energy supply fears intensify Oil prices jumped today as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Business • 28 Feb 22
Oil soars as Russian energy supply fears intensify Oil prices jumped today as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Business • 28 Feb 22
Oil hits seven year highs before easing Oil eased today from its highest in more than seven years as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that Western governments say are on the brink of war. Business • 14 Feb 22
Oil hits seven year highs before easing Oil eased today from its highest in more than seven years as Ukraine hinted at possible concessions to Russia that could alleviate tensions between the two countries that Western governments say are on the brink of war. Business • 14 Feb 22
Oil extends gains above $90 as winter storm hits US Oil prices climbed today, extending sharp gains in the previous session as frigid weather swept across large swathes of the US, threatening to further disrupt oil supplies. Business • 04 Feb 22
Oil extends gains above $90 as winter storm hits US Oil prices climbed today, extending sharp gains in the previous session as frigid weather swept across large swathes of the US, threatening to further disrupt oil supplies. Business • 04 Feb 22
Oil takes a breather as OPEC+ sticks to output plans Oil prices eased today following weak US payrolls data and some profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Business • 03 Feb 22
Oil takes a breather as OPEC+ sticks to output plans Oil prices eased today following weak US payrolls data and some profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Business • 03 Feb 22
OPEC+ sticks to planned output rises despite oil rally Oil prices were steady today as investors waited for the outcome of an OPEC+ meeting and official US data on crude and product inventories to gauge supplies. Business • 02 Feb 22
OPEC+ sticks to planned output rises despite oil rally Oil prices were steady today as investors waited for the outcome of an OPEC+ meeting and official US data on crude and product inventories to gauge supplies. Business • 02 Feb 22
Oil slips below $89 on speculation of faster OPEC+ hike Oil prices slipped today, staying close to a seven-year high, weighed by speculation OPEC+ could go further than expected to add supply at a meeting this week and expectations of a rise in US inventories. Business • 01 Feb 22
Oil slips below $89 on speculation of faster OPEC+ hike Oil prices slipped today, staying close to a seven-year high, weighed by speculation OPEC+ could go further than expected to add supply at a meeting this week and expectations of a rise in US inventories. Business • 01 Feb 22
Oil heads for sixth weekly gain amid supply concerns Oil prices rose today, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns. Business • 28 Jan 22
Oil heads for sixth weekly gain amid supply concerns Oil prices rose today, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns. Business • 28 Jan 22
Oil prices slip as China cuts import quotas Oil prices eased today after the world's top importer China cut the first batch of crude import allocations for 2022, offsetting the impact of US data showing fuel demand had held up despite soaring Omicron coronavirus infections. Business • 30 Dec 21
Oil prices slip as China cuts import quotas Oil prices eased today after the world's top importer China cut the first batch of crude import allocations for 2022, offsetting the impact of US data showing fuel demand had held up despite soaring Omicron coronavirus infections. Business • 30 Dec 21
Oil rises on easing Omicron fears and Iran delay Oil prices rose nearly $2 today, extending the previous day's almost 5% rebound as concerns over the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Business • 07 Dec 21
Oil rises on easing Omicron fears and Iran delay Oil prices rose nearly $2 today, extending the previous day's almost 5% rebound as concerns over the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Business • 07 Dec 21
Oil rebounds on Omicron hopes and Iran talks Oil climbed by $2 a barrel towards $72 today on hopes that the Omicron coronavirus variant would have a less damaging economic impact if its symptoms proved mostly mild and as the prospect of an imminent rise in Iranian oil exports receded. Business • 06 Dec 21
Oil rebounds on Omicron hopes and Iran talks Oil climbed by $2 a barrel towards $72 today on hopes that the Omicron coronavirus variant would have a less damaging economic impact if its symptoms proved mostly mild and as the prospect of an imminent rise in Iranian oil exports receded. Business • 06 Dec 21
OPEC+ to proceed with planned January oil output hike OPEC and its allies agreed to stick to their existing policy of monthly oil output increases despite fears that a US release from crude reserves and the new coronavirus variant would lead to a new oil price rout. Business • 02 Dec 21
OPEC+ to proceed with planned January oil output hike OPEC and its allies agreed to stick to their existing policy of monthly oil output increases despite fears that a US release from crude reserves and the new coronavirus variant would lead to a new oil price rout. Business • 02 Dec 21
OPEC+ to decide on oil output at meeting tomorrow OPEC and its allies will decide tomorrow whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a US release from oil reserves and fears about the new Omicron coronavirus variant. Business • 01 Dec 21
OPEC+ to decide on oil output at meeting tomorrow OPEC and its allies will decide tomorrow whether to release more oil into the market or restrain supply amid big gyrations in crude prices, a US release from oil reserves and fears about the new Omicron coronavirus variant. Business • 01 Dec 21
Oil rebounds to $76 after Omicron-related drop overdone Oil rebounded by almost 5% today to $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone. Business • 29 Nov 21
Oil rebounds to $76 after Omicron-related drop overdone Oil rebounded by almost 5% today to $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone. Business • 29 Nov 21
Oil traders focus on OPEC+ response to US-led release Oil prices fell slightly today, as investors eyed how major producers respond to the US-led emergency oil release designed to cool the market and with OPEC now expecting the release to swell inventories. Business • 25 Nov 21
Oil traders focus on OPEC+ response to US-led release Oil prices fell slightly today, as investors eyed how major producers respond to the US-led emergency oil release designed to cool the market and with OPEC now expecting the release to swell inventories. Business • 25 Nov 21
