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As oil prices rally, old OPEC tensions set to rise
As members of the OPEC and its allies meet this week to discuss adjusting output, analysts expect old tensions between oil producer giants to flare up again.
Oil prices jump more than $1 as US output struggles to fully restart
Oil prices jumped by more than $1 on Tuesday, underpinned by optimism over COVID-19 vaccine rollouts and lower output as US supplies were slow to return after a deep freeze in Texas shut in crude production last week.
Oil prices climb as deep freeze shuts US oil wells, curbs refineries
Oil prices rose on Tuesday as a cold front shut wells and refineries in Texas, the biggest crude producing state in the United States, the world’s biggest oil producer.
Oil prices fall on renewed coronavirus concerns as China cases mount
Oil prices fell on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns in Europe and new curbs on movement in China, the world’s second-largest oil user, where infections jumped.
Oil prices jump after OPEC+ inks supply compromise
Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell short of expectations.
Oil prices extend gains on COVID vaccine hopes, OPEC+
Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries.
Oil prices rise on falling US dollar
Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven US dollar which tumbled to multi-year lows.
Russia faces bigger budget deficit over oil prices
Russia’s budget deficit could reach 0.9% of gross domestic product (GDP) in 2020 at current oil prices, Finance Minister, Anton Siluanov told the upper house of parliament on Saturday.
Oil prices fall further as Trump EU travel ban fans recession fears
Oil prices have plunged a further six percent Thursday after US President Donald Trump announced travel restrictions on Europe to combat the spread of the coronavirus, ramping up fears of more recession.
Ex-OPEC envoy predicts further drop in oil prices
Iran’s former ambassador to the Organization of the Petroleum Exporting Countries (OPEC) said the global oil prices will probably continue to decline.
Oil prices edge up, supported by Iran ship attack
Oil prices were little changed on Monday, holding onto two percent gains from Friday amid renewed geopolitical tensions in the Middle East, while a detente in the US-China trade war buoyed market sentiment.
Oil prices climb 3% after Iran shot down intruding US spy drone
Oil prices have surged more than three percent to above $63 a barrel after Iran shot down an intruding American spy drone in southern parts of the country.
Oil prices advance 1% on expectations of OPEC-led output cuts
Oil prices rose by more than one percent on Tuesday, extending bigger gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.
High oil prices hurting consumers, to dent fuel demand — IEA chief
High oil prices are hurting consumers and could also have adverse implications for producers, the executive director of the International Energy Agency (IEA) said on Tuesday.
Fastest-growing major economy holds shaky crown as risks build
India’s world-beating economic growth is running up against some big risks: high oil prices, emerging market stress as the era of easy money draws to a close, and policy paralysis in the run-up to next year’s federal election.

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