Oil prices set for weekly loss on prospect of increased supply
Oil futures edged higher in Friday dealings but remained on track for a weekly loss on expectations OPEC+ will boost production before year-end, as investors cast doubt on whether an aggressive round of monetary stimulus from China will shore up demand from the world’s largest crude importer.
Oil Prices Fall as Expectations of Higher Supplies Hammer Market Sentiment
Separately, the Organization of Petroleum Exporting Countries (OPEC), and its allies, a group known as OPEC+, are currently cutting oil output by a total of 5.86 million bpd but it plans to reverse 180,000 bpd of those cuts in December.
Just Stop Oil activists jailed
Oil slumped again on reports of the Saudis moving to defend their market share. But lower prices may likely persist ...
Oil prices held steady on Friday but remained on track for a weekly fall as investors weighed expectations for increased ...
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OPEC is sticking with its estimate that the world will need an extra two million barrels a day this year, despite signs this ...
Israel escalated its war against Hezbollah this week with a campaign of deadly airstrikes that stoked concern about the ...
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