Crude oil inventories in the United States fell by 4.26 million barrels in the week ending January 29, more than analysts expected, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Oil reserves in Cushing, Oklahoma, were down by 1.89 million barrels in the same...
America will become undisputed global oil and gas leader for decades, thanks to the growth in US oil output, the International Energy Agency said adding that the growth in oil output until 2025 will be the strongest seen by any country in the history of crude markets, Financial Times...
The Organization of the Petroleum Exporting Countries (OPEC) said on Monday that it expects an increase in global oil demand, revising its projection to 1.53 million barrels per day in 2017, while in 2018 it anticipates demand reaching 1.51 mbd, some 130 thousand bpd higher than previously...
Oil prices traded in the red on Monday, reversing gains from earlier in the session amid rising investor confidence following the reopening of the US refineries. Despite the fall in prices, crude values retained a relatively high level, close to record highs after the International Energy Administration...
Oil prices traded in the red on Friday, reversing gains from yesterday's session after the fears of the damages from Hurricane Irma have passed. However, the crude values remained at a high level and on track for weekly gains as investor confidence improved after the International Energy...
Oil prices traded in the green on Thursday as investors digested the International Energy Agency (IEA) report, stating the upwards revised crude demand for 2017 yesterday. American benchmark West Texas Intermediate topped $50 per barrel mark as the markets opened for trading on Wall...
Oil prices traded in the green on Wednesday, reversing losses from earlier in the session after the IEA reported the global oil demand growth has been revised upwards for 2017. Meanwhile, investors continued to anticipate the EIA report due for release later today after market watchers already...
International Energy Agency (IEA) stated on Wednesday that the global crude oil demand growth has been raised by 0.1 million barrels per day to stand at 1.6 million barrels per day for 2017, according to the organization's official monthly report.
The agency said the oil supply for August declined by...
Oil prices traded slightly in the red on Wednesday as investors continued to fear rising crude stockpiles in the United States. Meanwhile, market watchers reported that the American Petroleum Institute stated on Tuesday that oil inventories saw a huge build for the past week. The news offsets...
Oil prices traded in the red on Tuesday as investors continue to digest the outcome following Hurricane Irma and destruction it left behind. Meanwhile, the prices seemed to have shifted towards the negative territory as market watchers anticipate the United States crude stock reports due later today...
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