Tag: OPEC+
Crude oil prices stay muted in 1H amid altered oil flows tracking Ukraine war
Brent crude prices expected to remain flat around $80/barrel in first half of 2023, with potential recovery to $85-$90 in second half. Increased demand from India and China may offset Western restrictions on Russian oil supply, driven by shifting global energy landscapes.
Oil prices climb after Opec+ keeps output cut targets, China eases Covid curbs
Oil prices rose 2% as OPEC+ kept production targets and Chinese COVID restrictions ease. WTI crude futures climbed 0.9% to $80.68, while Brent crude increased 0.8% to $86.29, signaling potential increased global demand and market stability.
Oil prices ease on symbolic OPEC+ output cut
OPEC and allied producers, including Russia, slightly reduced oil output for October, trimming supplies by 100,000 barrels per day. The move comes amid recession fears and falling crude prices, which have dropped from June's $120 per barrel peak, providing relief at gas pumps.- EXCERPT: Summarizes key points, highlights impact, and uses relevant keywords
