Oil Prices

Oil prices fell on Wednesday as potential OPEC+ plans to deepen supply cuts were overshadowed by demand concerns exacerbated by a possible second wave of coronavirus infections as countries ease lockdowns. Brent crude LCOc1 dropped 56…

Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus crisis. Saudi Arabia said on Monday it would cut output by a…

Oil prices fell on Monday as a new wave of coronavirus infections in some countries and concern over a persistent glut cancelled out support from supply cuts by the world’s biggest producers. Possible signs of a second wave of infections…

Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.…

Oil prices gained on Wednesday after U.S. stockpiles rose less than expected and gasoline stocks fell and buoyed by hopes demand will improve as some European countries and U.S. cities moved to ease coronavirus lockdowns. “In part thanks…

Oil prices fell on Friday, giving up early gains as China’s worst economic contraction on record outweighed news of U.S. President Donald Trump’s plans to get the American economy moving again. “The market knows that U.S. crude stocks…

Oil prices ticked up on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages…

Oman has told its oil producing companies to cut 200,000 barrels per day starting from May 1 until the end of June in line with OPEC+ crude supply reduction pact and will inform its customers of the same plan, its oil ministry said. OPEC…

Oil prices fell for a fifth day on Thursday to record their lowest levels since January 2019, as growing new cases of coronavirus outside China fueled concerns about a pandemic that could curb global economic growth and demand for crude.…