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Oil prices have risen in recent times due to the supply disruptions and a rise in global demand

OPEC+ agrees to stick to existing oil output plan

OPEC and its allies agreed to stick to their existing agreement to add 400,000 barrels per day (bpd) of oil to the market in November, OPEC+ sources said on Monday, despite pressure from consumers to cool a red hot market.

Business • 04 Oct 21

US crude stocks fell by 6.1 million barrels for the week ended September 17, market sources said

Oil prices rise on expected US stocks draw

Oil prices climbed over $1, extending overnight gains after industry data showed US crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.

Business • 22 Sep 21

US energy firms last week cut the number of oil and natural gas rigs operating for the first time in five weeks

Oil falls after Saudi price cuts signal demand concerns

Oil prices fell today, extending losses after the world's top exporter Saudi Arabia slashed crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the outlook for demand.

Business • 06 Sep 21

Both Brent and WTI futures are largely steady for the week

Oil rises on demand outlook, Gulf outages

Oil prices rose today a rebound in global demand was widely expected and a slow recovery for the US Gulf Coast export and refining hub from the hurricane earlier this week looked set to deplete stocks further.

Business • 03 Sep 21

OPEC+ agreed yesterday to continue a policy of phasing out record production reductions by adding 400,000 barrels a day each month

Oil drops after OPEC+ reaffirms supply return

Oil prices fell today after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many US refiners, a key source of crude demand, remained offline.

Business • 02 Sep 21

From August until December 2021 the group will increase supply by a further 2 million bpd or 0.4 million bpd a month

Oil falls 5% as OPEC+ producers agree to raise output

Oil prices fell over $3 in their largest daily decline since late March on Monday after OPEC+ overcame internal divisions and agreed to boost output, causing concern about a crude surplus as Covid-19 infections rise in many countries.

Business • 19 Jul 21

Slowing global growth outweighed the prospect of tightening oil supply after talks among key producers to raise output in coming months stalled

Oil slips as economic woes offset tightening supplies

Crude futures slipped this morning as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled.

Business • 12 Jul 21

Oil prices are headed for a weekly loss amid uncertainty about global supplies fuelled by an OPEC+ impasse

Oil mixed amid US inventories draw, OPEC+ impasse

Oil prices rose for a second day today as data showed a draw in US inventories, but were headed for a weekly loss amid uncertainty about global supplies fuelled by an OPEC+ impasse.

Business • 09 Jul 21

Brent prices have fallen as much as $5 a barrel since Monday's close

Oil prices continue to fall as OPEC+ uncertainty weighs

Oil prices fell for a third day today amid supply uncertainty after the collapse of talks among leading producers raised the possibility of the current output agreement being abandoned.

Business • 08 Jul 21

US crude inventories are expected to fall for a seventh week in a row

Oil rises to $75 but OPEC+ uncertainty clouds outlook

Oil rose to $75 a barrel today, rebounding from steep losses a day earlier with support coming from a tight market in the short term after OPEC+ talks collapsed this week without a deal to boost supply.

Business • 07 Jul 21

Oil prices rise on growing expectations that supplies will tighten further just as global fuel demand recovers from a Covid-19 induced slump.

Oil hits multi-year highs after OPEC+ talks collapse

Oil prices climbed to multi-year highs today after OPEC+ producers clashed over plans to raise supply to meet rising global demand.

Business • 06 Jul 21

Oil prices were higher today due to a disagreement inside OPEC+

Oil up as OPEC+ calls off talks over output row

OPEC+ ministers have called off oil output talks after clashing last week when the United Arab Emirates balked at a proposed eight-month extension to output curbs, meaning no deal to boost production has been agreed.

Business • 05 Jul 21

The United Arab Emirates have blocked a plan for an immediate easing of cuts and their extension to the end of 2022

Oil prices fall after OPEC+ extends supply talks

Oil prices edged lower today after OPEC+ ministers delayed an output policy meeting, with sources saying the United Arab Emirates had balked at proposals that included raising supply by 2 million barrels per day (bpd) by the end of the year.

Business • 02 Jul 21

OPEC's demand forecasts show that in the fourth quarter global oil supply will fall short of demand by 2.2 million barrels per day

Oil drops as Covid surges threaten fuel demand outlook

Oil prices dropped for a second day today on worries about slower fuel demand growth as outbreaks of the highly contagious Delta variant of coronavirus sparked new mobility restrictions around the world.

Business • 29 Jun 21

Both Brent and WTI contracts settled at their highest levels since October 2018 yesterday

Oil prices rise as global inventories decline

Oil prices inched higher this morning, and were on track for a fifth consecutive weekly gain, on expectations that demand growth would outstrip supply and OPEC+ producers would be cautious in returning more output to the market from August.

Business • 25 Jun 21

Brent has gained more than 45% this year, supported by supply cuts led by OPEC and as easing coronavirus restrictions boost demand

Oil jumps to more than two-year high on US inventories

Oil rose above $75 a barrel today, reaching its highest since late 2018, after an industry report on US crude inventories reinforced views of a tightening market as travel picks up in Europe and North America.

Business • 23 Jun 21

Oil prices have risen for the past four weeks amid optimism over the pace of global vaccinations and a pick up in summer travel

Oil prices climb as Iran nuclear talks drag on

Oil prices rose today, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer.

Business • 21 Jun 21

Brent has risen 44% this year, supported by supply cuts led by OPEC+ and a demand recovery which expected to gather pace in the second half of 2021

Oil hits new high near $75 on demand rise

Oil prices gained for a fifth day in a row today, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories.

Business • 16 Jun 21

Oil prices hit their highest levels in more than two years today

Oil prices rise as demand improves, supplies tighten

Oil prices rose today, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate.

Business • 14 Jun 21

Oil prices rose for a third day in a row on expectations of a surge in fuel demand

Oil prices rise as demand picture improves

Oil prices rose for a third day today on expectations of a surge in fuel demand later this year, particularly in the US and Europe and China, at the same time major producers are maintaining supply discipline.

Business • 03 Jun 21

Oil prices are on track for a second monthly gain as analysts expect oil demand growth to outstrip supply despite the possible return of Iranian exports

Oil prices climb on improving demand outlook

Oil prices climbed in early trade today, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week to see how producers will respond.

Business • 31 May 21

Saudi Arabia said it was phasing out its extra voluntary cuts by July

OPEC+ to ease oil output cuts from next month

OPEC+ has agreed to gradually ease its oil output cuts from May, after the new US administration called on Saudi Arabia to keep energy affordable for consumers.

Business • 02 Apr 21

Oil prices rise as investors bet OPEC will agree to extend supply curbs into May

Oil prices gain on expectations OPEC+ will keep lid on

Oil prices rose today as investors bet OPEC and its allies would largely agree to extend their supply curbs into May, while strong growth in China's manufacturing activity this month sent out more signals of economic recovery.

Business • 31 Mar 21

The Suez Canal opened up yesterday after days of being closed by a grounded supercarrier

Oil falls as Suez opens, focus turns to OPEC output cut

Oil prices slid today as the Suez Canal reopened to traffic, while focus turned to an OPEC+ meeting this week that is likely to agree an extension to supply curbs amid disappointing demand prospects.

Business • 30 Mar 21

Brent is set for its eighth week of gains in a row after prices touched a 13-month high on Monday

Oil steady near $70 on hopes of recovering demand

Oil prices hovered near $70 a barrel today, supported by production cuts by major oil producers and optimism about a demand recovery in the second half of the year.

Business • 12 Mar 21

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