Tag: oil price

February 02, 2024 BY Elizabeth Anderson

Possible OPEC+ global oil supply cuts on the table for Q2 2024

The seven members are Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman. Officials, who wished to remain anonymous, indicated that additional limits will be considered in March. With a tempered oil price of around $80 per barrel, the surge in US shale production, and the Red Sea conflict endangering shipments, OPEC+ members find it…

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daily market analysis
August 02, 2021 BY Steffy Bogdanova

Daily market commentary: The US dollar is trading almost flat

OIL Black gold keeps on trading inside its mid-term bullish channel today despite its failure to clear the $73.85 level last week. The current rebound over the lower band of the bullish channel at $72.30 isn’t reassuring investors as it remains limited compared to the recent 2% correction. Despite a decreasing US dollar providing fresh…

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daily market analysis
July 28, 2021 BY Steffy Bogdanova

Daily market commentary: European shares were mixed, continuing the Asian trend as global uncertainty linger everywhere

OIL Oil is gaining during the early part of Wednesday’s session, supported by a draw in American crude stocks. This reduction feeds into the narrative of supply being insufficient to meet demand, supporting oil prices as a result. Despite the threat posed by the spreading of the Delta variant, the IMF maintained its growth forecast…

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