Page 8 - Opec Output

Oil falls a third day as supply worries mount; OPEC to add more barrels

Oil prices fell a third day on Friday as supply concerns continued to haunt the market, with OPEC likely to add more barrels amid expectations that demand is returning

Oil prices climb on US inventories draw; OPEC+ impasse caps gains

Brent crude oil futures were up 27 cents, or 0.4%, at $74.39 a barrel by 0644 GMT

Global stock markets fall after stalemate in OPEC talks, US holiday

Global shares were mostly lower Tuesday as oil prices surged after a meeting of oil producing nations was postponed, with little else guiding trading after the US Independence Day holiday. France's CAC 40 dropped 0.5% in early trading to 6,534.23, while Germany's DAX lost 0.6% to 15,561.04. Britain's FTSE 100 edged down 0.2% to 7,153.81. The future for the Dow industrials inching less than 0.1% lower to 34,663.00. The S&P 500 future lost 0.1% to 4,339.88. Talks among members of the OPEC cartel and allied oil producing countries have broken off in the midst of a standoff with the United Arab Emirates over production levels. No debt has been set for the next meeting. US benchmark crude rose $1.28 to $76.43 a barrel. Brent crude, the international standard, added 24 cents to $77.40 per barrel. With oil prices pushing toward $80 a barrel, that raises the risk of a price war if the conflict escalates, like in March last year, Harpreet Bhal of ActivTrades said in a commentary. Higher ..

With oil market in limbo, here's how analysts see things playing out

If there's no increase in production, then oil at $85 to $90 a barrel is on the cards, Fereidun Fesharaki, chairman of industry consultant FGE, said in a Bloomberg TV interview

Oil and dollars: Why the UAE is risking a falling-out with OPEC+

The United Arab Emirates, the group's fourth-biggest producer, argued against a deal proposed by Saudi Arabia and Russia to extend quota limits until the end of next year

OPEC+ in crisis as specter of destructive infighting looms again

What happens next will determine whether the breakdown of talks -- which sent crude climbing toward $80 a barrel -- could escalate into a conflict as bitter and destructive at last year's price war.

Oil extends gains on OPEC+ supply discipline and demand prospects

NEW YORK (Reuters) - Oil rose more than 1% on Wednesday, supported by a decision by OPEC and its allies to stick to its plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States.

India to look to OPEC once oil demand recovers after Covid second wave

India's oil demand growth is set to be just 350,000 barrels per day (b/d) in 2021, according to S&P Global Platts Analytics, given extreme consumption weakness in April and May

Oil prices climb on drop in US oil stockpiles; solid demand outlook

Oil prices rose on Wednesday, extending overnight gains, after industry data showed a drop in U.S. crude inventories, which reinforced OPEC's robust demand outlook

OPEC's share of Indian oil imports plunges to two decade low, shows data

Total crude imports by the world's third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier

Oil drops towards $66 as India demand concerns weigh

Oil dropped towards $66 a barrel on Monday as concern about demand in India and higher OPEC+ supply offset optimism over rising demand in other major consumers such as China and the United States

Crude oil will climb above $70; energy security could reappear on the radar

Crude oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters

Oil price slips to $64 as rising OPEC+ supply, Iranian output weighs

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. Iran is also boosting supply

Oil settles up more than $2 despite OPEC+ production cuts

Brent crude settled up $2.12, or 3.4%, to $64.86 a barrel. US oil settled up $2.29, or 3.9%, at $61.45 a barrel.

US resumes calls to Saudi Arabia as OPEC+ debates increase or rollover

Trump insisted OPEC raise production to prevent prices from spiking too high

Oil prices mixed as US crude inventory draw supports, OPEC+ concerns weigh

NEW YORK (Reuters) - Oil prices were mixed on Wednesday, supported by a draw in U.S. crude inventories but pressured by concerns about the market's recovery after OPEC and its allies lowered their 2021 demand growth forecast.

Oil prices fall as Suez Canal opens, focus turns to OPEC+ output

Brent crude was down $1.02, or 1.6%, at $63.96 a barrel by 1334 GMT. West Texas Intermediate US oil was off by $1.16, or 1.9%, at $60.40 barrel

Oil prices slip as Suez Canal opens, focus turns to OPEC+ output cuts

Brent crude was down 50 cents, or 0.8%, at $64.48 a barrel by 0851 GMT. US oil was off by 58 cents, or 0.9%, at $60.98 barrel

Oil rises on hopes of stable OPEC+ output, fears of long disruption at Suez

Brent oil rose 58 cents, or 0.9%, to $65.15 a barrel by 1048 GMT. U.S. crude was up 40 cents, or 0.7%, at $61.37 a barrel

It's time Gulf Arab States look away from Oil and find new revenue sources

We are approaching an energy inflection point in the global economy: plentiful oil supply, a demand plateau by 2030 and more competitive renewable-energy options