Archive for Tag: OPEC

Crude Oil WTI

OPEC+ seen sticking to policy despite higher oil demand

Crude Oil WTIwas trading 0.11% up at $68.61. OPEC and its allies will likely stick to their existing policy of gradual oil output increases despite revising up the 2022 demand outlook and facing U.S. pressure to raise production more quickly, four sources said on Wednesday. The Organization of the...

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Brent Crude Oil

Oil edges lower as U.S. pushes OPEC to pump more

Brent Crudewas trading 0.72% down at $71.71. Oil slipped on Tuesday as OPEC and allies geared up for a meeting on Wednesday amid calls from the United States to pump more crude, although Brent still traded well above $70 per barrel. Prices were also under pressure from concerns that...

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OPEC+ will need to boost output to meet 2022 demand recovery – IEA

Brent Oilwas trading 0.33% up at $72.75. The world will need a lot more oil from OPEC+ as global demand is on track to return to pre-pandemic levels at the end of next year, the International Energy Agency said on Friday, just a few weeks after saying long-term oil...

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