Oil drops on support for OPEC production rise

Oil prices edged lower on Tuesday, slipping off five-month highs after the International Monetary Fund cut its global economic growth forecasts and as Russia signaled it may retreat from its production-cutting deal with OPEC......»»

Both benchmark contracts rallied to 13-month highs on Thursday driven by the historic freeze in U.S. southern states.....»»

Oil futures end lower on Thursday, as pressure from talk of a potential production increase by OPEC+ outweighed support from a fourth straight weekly decline in U.S. inventories......»»

OPEC and other oil nations held talks on Thursday on record production cuts of up to 20 million barrels per day, equivalent to about 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said......»»

Oil futures climb on Thursday as investors awaited the outcome of a crucial meeting of OPEC and its allies that is expected to lead to an agreement to cut global crude production and end a price war between Russia and Saudi Arabia......»»

Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures to support their economies, while expectations of a deal to cut oil production bolstered crude prices......»»

Oil prices rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand......»»

Oil prices strengthened ahead of their settlement on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement, shrugging off bearish signals from surging U.S. crude inventories......»»

President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic......»»

A three-year pact between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production......»»

Oil slid 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices......»»

Crude-oil prices pushed higher on Thursday afte.....»»

OPEC ministers are expected to approve on Thursday the outlines of a deal for a significant cut in oil production to shore up prices hammered by the coronavirus outbreak but they are still waiting for Russia to indicate whether it will back such a move......»»

Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on oil demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market......»»

Oil futures end higher on Tuesday, finding support as OPEC is reportedly considering an extension to its cuts in crude production, a day after prices ended at a more than three-month low......»»

Oil futures end higher on Tuesday, finding support as OPEC is reportedly considering an extension to its cuts in crude production, a day after prices ended at a more than three-month low......»»

Short interest in oil and gas stocks generally declined in the two-week period through December 13, primarily due to an OPEC+ decision to reduce production by a total of 2.1 million barrels a day........»»

Oil prices rose on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in U.S. crude inventories......»»

Global oil inventories could rise sharply despite OPEC and its allies deepening their output cuts and slowing U.S. production growth, the International Energy Agency (IEA) said on Thursday......»»

Global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production by the United States and other non-OPEC nations, the International Energy Agency (IEA) said on Thursday......»»