FILE PHOTO: Kaombo Norte floating oil platform is seen at night off the coast of Angola, November 8, 2018. Picture taken November 8, 2018. REUTERS/Stephen Eisenhammer/File Photo
But they failed to agree on holding an OPEC+ meeting on Thursday to discuss the cuts, with OPEC sources saying it would be conditional on countries that have not complied with their targets so far deepening their cuts. Further, Saudi Arabia and other Gulf producers Kuwait and the United Arab Emirates are not planning to extend voluntary additional output cuts of 1.18 million bpd after June, indicating crude supply could rise next month no matter what OPEC+ decides.
Should be careful.
I will take all of the oil, as long as it's free.
Gas is gonna be free if it goes any lower...
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Oil prices hit 3-month highs on expectations OPEC+ will extend deepest-ever production cutsIn April, OPEC+ agreed to cut oil production by a record 9.7 million barrels per day (b/d), approximately 10% of global output.
Source: CNBC - 🏆 12. / 72 Read more »
Brent oil rises to $40 amid hopes for output cuts, recoveryOil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and a recovery from the coronavirus pandemic will spur fuel demand. 👍🏻👍🏻👍🏻 goelectric The first knife in our back. the price of gas will go up a dollar in a year. more in some states. You heard it here first. 😎
Source: Reuters - 🏆 2. / 97 Read more »
Venezuela's oil exports sink to 17-year low, choked by U.S. sanctionsVenezuela's oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports and two Mexican firms that had acted as intermediaries for Venezuelan crude sales stopped receiving oil, Refinitiv Eikon data and internal shipping documents from state-run energy company PDVSA showed. So the US goes around the world looking to invade and cause wars because it's their bread and butter - causes chaos and animosity in other countries, now at home. How is this not Imperialism again Reuters? You are a news outlet right? This is how communist authoritarian regime ends. Always. For once, Reuters admits that oil production in Venezuela is bc the U.S. is choking it with sanctions/embargo. Venezuelans are the ones being punished because they refuse capitalism and the wealth gap that’s existed in Venezuela despite its natural resources
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Oil leaps as major producers look to extend record production cuts through JulyOil continued its climb to past highs on Tuesday amid reports that OPEC+ members are eyeing extensions to record production cuts. Major producer...
Source: BusinessInsider - 🏆 729. / 51 Read more »
BlackRock focuses on China credit, oil and travel in AsiaThe world's biggest asset manager, BlackRock Inc, called out oil stocks, domestic tourism and debt in China and India as investment opportunities in its Asia outlook on Wednesday. Seems like they really embraced their new ESG focus, minus the E part. Why not just go straight to coal guys? You know u want to... Too late. Oh goody gum-drops....
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China drives global oil demand recovery out of coronavirus collapseChina's oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns. Lol. Thats why today Saudi told they wanted to cut off oil production ..to increase oil.price 😂😂😂.. They are technically doin what Trump wanted them to do. To ensure China will not recover economically and surpass US . Thats the whole point. Demmm
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