Oil

The UAE and other oil producers on Sunday cut output to 40.46 million barrels per day till the end of the year, resulting in a spike in global oil prices. This is the second output cut by the Opec+ members in the past two months. On April…

The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to US…

Oil prices softened in early trade on Friday, weighed down by conflicting messages from Russia and Saudi Arabia ahead of the next policy meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, and a…

Oil prices edged up on Monday as optimism about tightening supplies from the Organization of the Petroleum Exporting Countries and its allies supported crude prices. Brent crude futures were up 9 cents, or 0.12 percent, to $74.26 a barrel…

Gold prices fell on Monday after OPEC+ announced a cut to oil output, causing inflation concerns and raising the possibility of an interest rate hike at the upcoming May meeting of the US Federal Reserve. Spot gold dropped…

OPEC+'s surprise production cuts could push oil prices towards $100 per barrel, tighten the market, and encourage diversification of supplies, according to analysts and traders. Oil prices jumped over $4 per barrel…

Iraqi federal government and the Kurdistan Regional Government (KRG) have agreed to resume northern oil exports this week. The initial agreement will last until the approval of the oil and gas law bill by the Iraqi Parliament. The exports…

Oil rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply and as easing fears of a global banking crisis supported risk sentiment in the wider markets. Crude exports of…

Oil prices rose about 2% on Thursday, turning positive as OPEC and its allies said the producer group would crack down on countries that failed to comply with output cuts and planned to hold an extraordinary meeting in October if oil…

Oil prices jumped more than 4% on Wednesday, following a drawdown in U.S. crude and gasoline inventories and as Hurricane Sally forced a swath of U.S. offshore production to shut. Brent crude LCOc1 rose $1.64, or 4.1%, to $42.17 a barrel…