TOKYO - Oil rose to multi-week highs on Monday after OPEC indicated it would probably maintain production cuts that have helped support prices this year, while tension continued to escalate in the Middle East.
U.S. West Texas Intermediate crude was up 71 cents, or 1.1% higher, at $63.47 a barrel. The U.S. benchmark reached $63.81 earlier, the highest since May 1. U.S. President Donald Trump threatened Tehran on Sunday, tweeting that a conflict would be the “official end” of Iran, while Saudi Arabia said it was ready to respond with “all strength” and it was up to Iran to avoid war.
OPEC, Russia and other non-member producers, an alliance known as OPEC+, agreed to cut output by 1.2 million barrels per day from Jan. 1 for six months to prevent inventories from increasing and weakening prices.
So sad...cry the beloved oil industry...where are we heading to with all this?
From Iran’s perspective ...they’re facing an anti-democratic regime deeply influenced by extremist clerics, armed to the teeth with nuclear weapons, abrogating international agreements left & right, with the basic sanity & rationality of the Supreme Leader widely questioned.
These are all artificial ……..
America, let's switch to electric cars, please. Fk Oil and Gas. Let's use oil/gas if we have to for the heavy industry but make all consumer vehicles use batteries like Tesla We'll never have to worry about what OPEC says prices should be.
American admin and saudis oil tycoons are bastard.
Venezuela?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil surges after OPEC indicates it will maintain output cutsOil rose to multi-week highs on Monday after OPEC indicated it will likely maint... James Charles exposing Tati and Jeffree Star in No more lies $BTC $ETH $LTC $ETC $XVG $XRP $XLM $MINT $NEO $BCH $TRX $XMR $OMG $IOTA $ZEC $XEM $IOST $ADA $TPAY $DASH $ICX $POE $ARK $LISK $HOT $BCN These two psychopaths making more money under Trump, at the expense of American consumers:
Source: Reuters - 🏆 2. / 97 Read more »
Russia's Novak - too early to discuss proposals to OPEC and non-OPECRussian energy minister Alexander Novak said on Sunday it was still too early to... .
Source: Reuters - 🏆 2. / 97 Read more »
Russia's Novak: too early to discuss proposals to OPEC and non-OPECRussian energy minister Alexander Novak said on Sunday it was still too early to...
Source: Reuters - 🏆 2. / 97 Read more »
Oil jumps as Saudi Arabia suggests OPEC+ to keep production cut planOil prices jumped as much as 1 percent on Monday after Saudi Energy Minister Kha... horseshit, trying to profit at the expense of everyone else This is the responsibility of the Security Council for the silence on Iran's attacks and its militias on Saudi oil tankers and pumps
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices head for 3% weekly gain as OPEC panel meeting convenes amid Middle East upheavalOil futures climb Friday for a fourth straight session, taking both benchmarks to weekly gains to 3%, as any potential demand worries tied to stock-market volatility were offset by supply concerns linked to Middle East tensions.
Source: MarketWatch - 🏆 3. / 97 Read more »
Exclusive: Saudi's Falih says sees no oil shortage, but OPEC to act if neededSaudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw... So fight a war with Iran on their behalf AND higher gas prices winning realDonaldTrump Wonder how our, governing by deal, President, is doing with these, “friends”, guess we have the upper hand, here, too!!! Could we trust in a guy with a towel on his head ?
Source: Reuters - 🏆 2. / 97 Read more »
OPEC Considers Two Scenarios to Adjust Oil ProductionOPEC and its allies are set to debate at least two scenarios that would increase oil production beyond current levels, according to people familiar with the discussions. Self sabotage not working out great eyy? reality of it is maybe cuts just need to be permanent if they want to keep prices high A gluten of oil on the world market - and there has been for some time - and gas prices skyrocketing. Might there be an issue here?
Source: WSJ - 🏆 98. / 63 Read more »
Exclusive: Saudi's Falih says oil stocks still building, but OPEC to act if neededSaudi Arabia's Energy Minister Khalid al-Falih said on Saturday that OPEC w... I want world to completely shift to renewable energy sources. So that i can see all these oil rich countries go back to stone ages. They don't have anything other than oil. Bensinupproret vad tycker ni nu ?Ericson_ubbhult beckmansasikter The system, comprising of world leaders who've vowed to always do the right thing, that is, making certain financial markets for themselves gain maximum prophets, regardless the maximum suffering to others cause. Money in oil, money in weapons as well.
Source: Reuters - 🏆 2. / 97 Read more »
OPEC sees more 2019 demand for its oil as it keeps cutting outputOPEC said on Tuesday that world demand for its oil would be higher than expected... But, Trump called them? Demand goes up every year, cut output and price soars.
Source: Reuters - 🏆 2. / 97 Read more »
Exclusive: Saudi's Falih says not sure there is oil shortage, OPEC will actSaudi Arabia's Energy Minister Khalid al-Falih said on Saturday that OPEC w... Of course there’s no shortage. Simply a way to manipulate markets. Make cash. Why we need solar as fast as possible. The market will NEVER fluctuate. No more gambling. Time for The-Liar-in-Chief™ to make his phone call to OPEC and make everything OK. Also not sure who put the hood up on his bathrobe or why he can't stop doing 'the Jeb.' CallADoctor
Source: Reuters - 🏆 2. / 97 Read more »
Iran gives international community warning amid rising US tensionsIran warns international community of 'making crises' after oil tanker 'sabotage,' as tensions continue to rise between U.S. and Iran. I really wouldn't put it past the Saudis to orchestrate this. It makes no sense strategically or politically that Iran would go out of its away amid the recent tension to so blatantly and boldly sabotage/attack US, Saudi, or Israeli assets. embrasethesuck Sabotaged by explosive drones controlled by the Iranian government.
Source: ABC - 🏆 471. / 51 Read more »