Nasdaq LONDON – OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance in support of the market. The Organization of the Petroleum Exporting Countries pumped 27.88 million barrels per day (bpd) last month, up 70,000 bpd
Yahoo DUBAI/LONDON/RIYADH -Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation and smooth the way for an ice-breaking visit to Riyadh by U.S. President Joe Biden. OPEC+ said it had agreed to boost output by 648,000 barrels per day (bpd) in July – or
Reuters India’s April crude oil imports were the highest in 3-1/2 years as the world’s third biggest oil importer and consumer ramped up discounted Russian oil purchases to fuel a recovery in demand and fight high prices. Crude oil imports increased by about 9.7% from March and were up about 14.3% from a year earlier at 20.87 million tonnes, the
Nasdaq LONDON, Feb 25 – Prominent business leaders in the U.S. shale industry have been proselytising about their newfound commitment to restricting output growth to protect prices and profit margins. But the rate of new drilling and production is climbing in response to rising prices ― albeit more slowly than during the frenzied growth of the first (2009–2014) and second
CNBC Oil prices fell on Monday, hit by a stronger dollar and investor concerns over the possibility of quicker than expected increases to interest rates by the U.S. Federal Reserve. Brent crude fell $2.19, or 2.5%, to $85.70 per barrel. West Texas Intermediate (WTI) crude dropped $2.59, or 3%, to $82.56 per barrel. The dollar rose to a two-week high on Monday
Nasdaq Dec 16 – Canada’s main stock index rose on Thursday, extending gains to a second session, aided by strength in mining, energy stocks and an upbeat economic outlook from the U.S. Federal Reserve. At 9:44 a.m. ET (14:44 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was up 158.02 points, or 0.76%, at 20,927.18. The materials sector .GSPTTMT, which includes precious
CNBC Stocks rose to all-time highs on Thursday as Congress confirmed the election of Joe Biden as president and traders looked past the unrest in Washington. The Dow Jones Industrial Average advanced 221 points, or 0.7%. At one point, the Dow was up more than 300 points. The Nasdaq Composite popped 2.3% — breaking above 13,000 for the first time — as
From Reuters Oil prices have continued to drift lower after plunging last week, highlighting the risk for traders trying to exploit mean-reversion strategies by buying futures contracts after a sharp fall in prices. Front-month Brent futures prices tumbled by more than 7% on Thursday, a percentage change equivalent to more than three standard deviations for all daily price moves since
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