To rescue global oil prices, Nigeria, others agree on 1.5 million barrels cut at Vienna
Strong indications have emerged suggesting that Nigeria and other members of the Organisation of Petroleum Exporting Countries (OPEC) agreed to cut oil production by additional 1.5 million barrels per day in the second quarter of 2020 to prop up prices….
Oil rises on expected OPEC cuts, as markets wary on trade woes
Global oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply toward year-end. However, despite that, markets remained wary amid deep trade disputes between the world’s two biggest economies, the…
Oil prices on the rise again after Saudi announced December supply cut
Global oil prices rose by about one percent on Monday after top exporter, Saudi Arabia announced a cut in supply for December loadings. This is ahead of fresh plans by OPEC to work towards uniform cut in production quota to…
Oil prices recede as economic concerns weaken tightening supplies
Global oil prices fell on Thursday, reversing some of the strong gains from the previous session, as economic concerns raised doubts about ongoing fuel demand growth. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $69.91 per barrel at…
