Page 8 - Crude Oil Supply

Oil prices edge lower in wake of jump on OPEC+ supply restraint

Oil prices eased on Tuesday after climbing to their highest levels in years in the previous session on the decision by OPEC and allied major oil producers to maintain restraint on supply.

Oil climbs to one-week high on US supply concerns, Brent crude up 0.7%

Brent crude rose 48 cents, or 0.7% to $73.40 a barrel, and U.S. West Texas Intermediate (WTI) crude also added 49 cents, or 0.7%, to $70.21 a barrel

Oil recovers as tight US supplies offset China reserves sale plan

SINGAPORE (Reuters) - Oil prices rose on Friday on growing signs of tightness in U.S. markets after Hurricane Ida hit offshore output, although benchmarks were heading for weekly losses of nearly 1% after China announced plans to sell crude from its strategic reserves.

Oil price jumps as storm approaches Gulf of Mexico production hub

Oil prices rose on Friday and were on track to post big gains for week on worries about supply disruptions as energy companies began shutting production in Gulf of Mexico ahead of possible hurricane

Oil prices rise to $75 as US inventory drop counters virus worry

A rising number of coronavirus cases worldwide, despite vaccination programmes, has limited the upside for oil and remains a concern.

Oil prices edge higher as tight supply outweighs coronavirus spread

Brent crude futures rose 23 cents, or 0.3%, to $74.73 a barrel by 1150 GMT

Oil inches up as tight supply, vaccinations outweigh virus concerns

MELBOURNE (Reuters) - Oil prices were steady on Tuesday with investors betting tight supply and rising vaccination rates will help offset any impact on demand due to surging COVID-19 cases worldwide.

Oil inches up as demand recovery seen tightening supply through 2021

Brent crude gained 50 cents to $72.73 a barrel by 11:10 a.m. EDT (1510 GMT)

OPEC+ agrees to boost oil output after Saudi Arabia, UAE end standoff

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic

Oil market sees improved demand, decline in surplus supply: Iraq minister

Iraqi Oil Minister Ihsan Abdul Jabbar said on Sunday that the oil market has seen an improvement in demand and a decline in surplus and stockpiles

OPEC+ meets to agree quick oil supply boost to address soaring prices

OPEC+ ministers are meeting on Sunday in another attempt to agree a quick oil supply boost to address soaring prices as the global economy recovers from the coronavirus pandemic

Oil prices drop after Saudi Arabia and UAE reach output compromise

Under the compromise with Saudi Arabia, the UAE's baseline production will rise to 3.65 million barrels per day after the current pact expires in April 2022

OPEC+ yet to make progress in resolving impasse preventing deal: Sources

OPEC+ is yet to make progress closing divisions between Saudi Arabia and United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely

Oil prices slip as slowing progress worries offset tightening supplies

Crude futures slipped as considerations over slowing international progress outweighed the prospect of tightening provide after talks amongst key producers to lift output in coming months stalled

Oil keeps climbing for fifth week on tight supply outlook, eyes on OPEC+

US West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week

Oil prices steady as demand optimism offsets worries of Iranian supply

Brent rose 13 cents, or 0.2%, to $68.78 a barrel by 0928 GMT

Indian refiners set to curb spot buying to make room for Iranian oil

The world's third largest oil consumer and importer halted imports from Tehran in 2019 after former US President Donald Trump withdrew from a 2015 accord

India strongly pitches for easing cuts in crude oil production

Ministry of Petroleum and Natural Gas is reviewing closely the global crude supplies and price situation

Iraq's SOMO awards fuel oil supply contracts to Chevron, Reliance

Iraqi state-owned marketer SOMO has finalised a term contract to supply 750,000 tonnes of straight-run fuel oil (SRFO) per month from April to September, three fuel oil trade sources said

Indian state refiners prepare to cut May Saudi oil imports: Report

Indian state refiners prepare to cut May Saudi oil imports