Page 12 - Oil Demand

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 prices slip but set to end week steady on tight supply

LONDON (Reuters) -Oil slipped further below $74 a barrel on Friday but was on track to end the week little changed after a surprising recovery from Monday's slide, underpinned by expectations that supply will remain tight as demand recovers.

Oil slips but set to end week steady on tight supply as demand recovers

For the week, Brent was set to end the week up a marginal 0.2%, having declined in the previous three weeks. U.S. crude was poised to remain steady over the week.

Oil slip but heads for steady week on supply tightness as demand recovers

Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers

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)

Oil surges 4% amid better risk appetite despite weak demand outlook

Brent crude futures had gained $2.53, or 3.65 per cent, to $71.88 a barrel by 18.41 pm IST

Oil prices retreat on unexpected build-up in US crude inventories

Oil prices fell on Wednesday after an industry report showed an unexpected build-up in US oil inventories last week

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 sees world oil demand reaching pre-pandemic level in 2022

OPEC stuck to its forecast for a strong recovery in world oil demand in the rest of 2021, predicted oil use would rise further in 2022 similar to pre-pandemic rates, led by growth in China and India.

Oil prices climb with Opec+ signalling more gradual supply hike

Futures in New York rose as much as 3.7 per cent on Thursday to the highest intraday level since 2018

Oil prices strike 2018 highs on demand recovery, Iran nuclear talks

Oil prices climbed to highs last seen in October 2018 on Monday as the United States and Iran wrangled over the revival of a nuclear deal, delaying a surge in Iranian oil exports

Oil prices rise for fifth week to highest since 2018 on strong demand

Brent futures rose 62 cents, or 0.8 per cent, to settle at US$76.18 a barrel, while US West Texas Intermediate (WTI) crude rose 75 cents, or 1.0 per cent, to US$74.05

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

Oil steadies near three-year highs on recovery signs

NEW YORK (Reuters) -Oil prices steadied on Thursday, holding close to their highest levels in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity.

Oil prices rise to over two-year high as demand improves, supplies tighten

U.S. West Texas Intermediate rose 27 cents to $71.18 a barrel. It hit a session high of $71.78 a barrel, its highest since October 2018.

Oil prices climb as demand outlook improves, supplies tighten

Brent crude was up 51 cents, or 0.7%, at $73.20 a barrel by 0644 GMT

Iraq oil minister Ihsan Abdul-Jabbar Ismail says gas sector a priority

Iraq's oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq's oil minister said Friday. But he also warned that an enduring bureaucratic culture of fear threatens to stand in the way. Iraq is currently trading oil at $68 per barrel, close to the approximately USD 76 needed for the state to operate without reliance on the central bank to meet government expenditures. Oil Minister Ihsan Abdul-Jabbar Ismail took over the unenviable job of supervising Iraq's most vital industry at the height of an oil price crash that slashed oil revenues by more than half last year. Since then, he has had to balance domestic demands for more revenue to fund state coffers and pressure from OPEC to keep exports low to stabilise the global oil market. With the sector rebounding, Ismail told The Associated Press, he can now focus on other priorities. In the interview, he offered a rare glimpse into the inner-workings of

Oil prices dip, but head for third weekly rise on demand recovery

Brent crude futures edged down 4 cents, or 0.06%, to $72.48 a barrel at 0658 GMT

Oil prices retreat, but heads for third weekly rise on demand recovery

Brent crude futures fell 16 cents, or 0.22%, to $72.36 a barrel at 0558 GMT, after closing at its highest since May 2019 on Thursday