How wrong the market was. Instead, the group announced it would increase the oil supply by 411k b/d in May. The group attributed the increase to healthy market fundamentals and a “positive ...

April 4 (Reuters) - Goldman Sachs lowered its forecast for Brent crude's average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply ...

Oil futures tanked more than 6% on Thursday as Trump's tariffs sent financial markets reeling and new global supply developments suggested the balance in the global oil market would remain under ...

OPEC+ agreed to make a larger than expected oil supply hike in May, deepening the slump in oil prices triggered by President Donald Trump’s tariffs. The group led by Saudi Arabia and Russia will ...

Over the past few years, after the start of the Russia-Ukraine conflict, India has reduced its reliance on Middle Eastern and African oil in favor of a cheaper and abundant supply from Moscow.

Wall Street Banks See Oil in the Low $70s. Rising supply and potentially weaker-than-expected demand are set to keep oil prices in check this year, with the price likely to average in the low $70s ...

Aside from the physical groundwork of gathering and processing oil, market factors are the true price-determinants of crude oil spot prices. Crude oil market regulations control supply and dynamics, ...

HOUSTON, March 10 (Reuters) - Global oil supply growth is outstripping demand, the CEO of one of the world's largest oil traders,Gunvor, said on Monday. Oil prices hit a three-year low last week ...

International Energy Agency (IEA) on Thursday projected that global crude oil supply may exceed demand by around 1 million barrels per day (mb/d) in 2025 as rising trade tensions and OPEC+ winding ...

Global crude oil exports rose in March, with notable increases from Brazil, Canada, and Russia. This increase comes just before OPEC+ is set to increase its production in April. The OPEC+ Joint ...

Oil prices are under significant pressure, with Brent witnessing its largest sell-off since August 2022. Front-month prices are trading below US$70/bbl. Worse-than-expected reciprocal tariffs from the ...