Organization of the Petroleum Exporting Countries

Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading countries to consider or resume partial lockdowns that could hurt fuel demand.…

OPEC on Wednesday again slashed its forecast for global oil demand this year as the coronavirus outbreak causes a global recession, although it said record supply cuts by the group and other producers were already helping rebalance the…

Oil prices slumped again on Tuesday amid concern about dwindling capacity to store crude worldwide, heightened by fears that fuel demand may be slow to pick up once countries ease curbs imposed on business and social life to combat the…

Crude oil futures fell on Monday, with U.S. futures dropping more than 10% to levels unseen since 1999 amid concerns that U.S. storage facilities will soon be brimful with demand evaporating due to the coronavirus pandemic. The volume of…

Oil prices jumped more than $1 a barrel on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic…

China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday. China started processing in March…

Iraqi oil facilities are secured and the country’s production is continuing, OPEC’s Secretary-General Mohammed Barkindo said on Wednesday. “It’s a big relief that the facilities continue to be secured in Iraq, the production is…

Oil prices rose on Tuesday in thin pre-Christmas trading after Russia’s energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in U.S. crude inventories. Brent…

Major oil-producing countries meet in Vienna on July 1 and 2, the OPEC website and a delegate said Wednesday after the biannual gathering had been postponed several times. Oil producers led by Saudi Arabia are expected to decide whether…

  GBOLABO AFUWAPE The Prices of Oil on Monday hit their peak levels since November 2018, thanks to the OPEC-led supply cuts, United States (U.S.) sanctions on Iran and Venezuela, and hopes that the Sino-U.S. trade…