Tag Archives: OPEC

[unable to retrieve full-text content]Oil Gains as OPEC+ Ministers Reject Reaction to Output Increase (Bloomberg)  Yahoo Finance Source link

[unable to retrieve full-text content]Oil Steadies as Geopolitical Tensions Rise Before OPEC+ Meeting  Yahoo Finance Source link

[unable to retrieve full-text content]Oil Drops as Traders Assess Weak Chinese Data and OPEC+ Policy  Yahoo Finance Source link

(Bloomberg) — Oil pared losses after Saudi Oil Minister Prince Abdulaziz bin Salman said the disconnect between the futures market and supply fundamentals may force OPEC and its allies to act. Most Read from Bloomberg West Texas Intermediate futures bounced to about $90 a barrel after earlier trading below $87 on Monday. The Saudi oil chief warned that “extreme” volatility and lack of liquidity in the futures market are moving prices in ways that don’t conform to fundamental… Source link

(Bloomberg) — Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark trip to the kingdom. Most Read from Bloomberg Biden said late Friday that the Saudis shared his “urgency” to increase oil supply and he expects “further steps in the coming weeks” to that end. Saudi officials stressed any decision to pump more would be made in the framework of OPEC+, which holds… Source link

Oil prices dropped more than 4% before rebounding on Thursday after OPEC+ announced it would continue its supply hike of 400,000 barrels per day per month, despite the threat of Omicron variant cases. Oil analysts had been split on whether the cartel would hold steady with its output hike or pause it amid uncertainty about demand given the threat of the new variant.  West Texas Intermediate (WTI) crude (CL=F) touched $63 a barrel shortly after 9 a.m. ET. By 2 p.m. in the afternoon, future… Source link

TipRanks Goldman Sachs Bets on These 3 Stocks; Sees Over 50% Upside Potential What goes up must come down, as we all know. This fact of physics is the underlying worry of the stock market, that fuels our suspicions of bubbles. But investment firm Goldman Sachs doesn’t believe we should worry; the firm’s chief global equity strategist Peter Oppenheimer gives several reasons to expect that the market’s current upward trend is real. His key points include the equity risk premium, the real… Source link

The Conversation January warm spells, March freezes: How plants manage the shift from winter to spring A late snowfall could set back the growth of this budding lilac. oddharmonic/Flickr, CC BY-SAWeather patterns across the U.S. have felt like a roller coaster ride for the past several months. December and January were significantly warmer than average in many locations, followed by February’s intense cold wave and a dramatic warmup. If you’ve ever seen lilac bushes crushed by snowdrifts,… Source link

Local Journalism Initiative Black (market) Friday Retailers in Manitoba are finding new loopholes within mandated public-health orders to peddle non-essential products, just in time for the busy holiday sales this weekend. But speaking to reporters Friday, chief public health officer Dr. Brent Roussin said the province doesn’t want to penalize large businesses for exploiting apertures in prescribed restrictions just yet — even if they are directly contravening them by pushing merchandise… Source link

(Bloomberg) — When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer. The coalition of crude producers gathers on Monday to assess the state of the market. No supply decisions are expected until Dec. 1 but leading members Saudi Arabia and Russia are already stepping up diplomacy. President… Source link