Oil shock? How OPEC+ could soften the blow if the Middle East conflict hits supply.
Oil prices have climbed so far this week, with traders worried that Israel may decide to hit Iran’s oil infrastructure in retaliation to Tehran’s missile attack — but the market has a not-so-secret cushion that could help offset any loss of output.
Oil jumps 2% on Middle East supply fears
Oil prices rose on Thursday on investor concern that a widening Middle East conflict could disrupt crude oil flows from the region, though a stronger global supply outlook kept a lid on gains. Brent crude futures were up $1.
Crude Oil Climbs on Middle East War Escalation
Conflicts have continued to grow in the Middle East, giving crude oil prices a big boost. Oil has been locked in a downward trend over the past month, down 14% from a multi-month high close of $83.88 a barrel.
Oil Prices Rise Again As Concerns About Middle East Conflict Escalate
Crude oil prices rose again Wednesday as traders priced in heightened concerns about violence in the Middle East. International benchmark Brent crude rose 2.7% to about $75.50 per barrel by midmorning,
Russia's Novak says market wary of oil supply cuts due to Middle East conflict
Russian Deputy Prime Minister Alexander Novak said on Wednesday that oil prices have increased as markets do not rule out a decline in oil supply due to the conflict in the Middle East. In televised comments after a meeting of top OPEC+ ministers kept oil output policy unchanged,
European Stocks Rise as Fears of Middle East War Drive Oil Prices Higher
European stock markets rose slightly as oil prices jumped on concerns of Middle East supply disruptions, after an escalation of conflict in the region with Iran’s missile attack against Israel.
Russia's Novak says OPEC+ to continue key role in stabilising oil market
Russian Deputy Prime Minister Alexander Novak said the OPEC+ group of leading oil producer will continue to play a decisive ...
Why OPEC+ Got a Saudi Warning About $50 Oil
Saudi Arabia's oil minister has warned that oil could hit $50 a barrel if OPEC+ members flout production curbs, in what was ...
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Opec+ focuses on compliance as output policy left unchanged
The group's JMMC reviewed the crude oil production data for the months of July and August and the current market conditions, ...
OPEC+ could cushion Iran oil shock but not broader disruption
By Maha El Dahan, Ahmad Ghaddar and Dmitry Zhdannikov LONDON (Reuters) - OPEC has enough spare oil capacity to compensate for ...
OPEC+ unlikely to change output policy
Oil prices have fallen in 2024 with Brent crude last month slipping below $70 a barrel for the first time since 2021 ...
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Opec+ panel keeps output policy unchanged, compliance takes centre stage
The group's JMMC reviewed the crude oil production data for the months of July and August and the current market conditions, ...
Kazakhstan raises oil output in September, exceeds OPEC+ quota, sources say
Kazakhstan increased crude oil production in September by 10% compared to August to 6.55 million tons, exceeding OPEC+ quotas ...
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OPEC+ Leaves Current Output Cut Policy Unchanged at JMMC
The OPEC+ joint ministerial monitoring committee meeting (JMMC) concluded on Wednesday, with the ministers refraining from ...
OPEC+ ministers keep oil output policy unchanged, source says
Another source said talks are focusing on compliance with output cuts and ministers are likely to adjust compensation ...
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Kazakhstan Meets OPEC+ Obligations
ASTANA — Kazakhstan has confirmed that it fully met its obligations under the Organization of the Petroleum Exporting ...
Analysis-OPEC+ Could Cushion Iran Oil Shock but Not Broader Disruption
Iran fired hundreds of missiles at Israel on Tuesday in response to Israeli airstrikes and attacks. Israel’s Prime Minister ...
Saudi Strategic Shift Raises Specter Of Another Oil Bust
Saudi Arabia is again signaling a shift in strategy to protect global market share. The last time this happened, an oil bust ...