Tag: OIL PRICES

Soaring gas prices and colder winter could push oil prices up

Goldman Sachs said that with soaring global gas prices, a colder winter in Europe and Asia could in turn boost demand for oil, putting upside risk of $5 per barrel for its Brent price forecast in the fourth quarter of 2021 of $ 80 a barrel

Oil steadies but Delta outbreaks cloud demand prospects

Oil prices steadied after four days of declines, with investors still worried about the outlook for fuel demand as the use of rail, air and other forms of transport is constrained by surging COVID-19 cases worldwide

OPEC+ sees no need to meet U.S. call for more supply

OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise

Oil slides on China virus curbs and climate warning

Oil prices fell by 4%, extending last week’s steep losses on the back of a rising US dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand

Virus variant threatens to cool oil demand recovery

Oil prices will trade near $70 per barrel for the rest of the year supported by the global economic recovery and a slower-than-expected return of Iranian supplies, with further gains limited by new coronavirus variants, a Reuters poll showed

Chevron tops profit estimates and joins share buyback stampede

Chevron reported its highest profit in six quarters and joined an oil industry stampede to reward investors with share buybacks, as rebounding crude oil prices carried earnings and cash flow to pre-pandemic levels

Equinor Q2 profit jumps, volatile oil eyes, gas markets

Norway’s Equinor posted a sharp rise in revenue in the second quarter as oil and gas prices rose, but its revenue fell slightly. expected while the Norwegian unit did not get the forecasts

IEA warns OPEC+ deadlock is bad news

The International Energy Agency warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation

US oil mergers surge as energy, share prices recover from pandemic

US oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, as rising energy and share prices led to larger oilpatch deals

Oil prices accelerate rise as OPEC+ calls off output talks

Oil prices rose, driven higher after OPEC+ nations called off talks on output levels, meaning no deal to boost production has been agreed