TAG: opec supply cuts
Crude oil prices to trade with upside bias over geopolitical tensions; Brent may hit $90-$95/bbl in near-term
Global crude oil prices rose sharply by 5.9 per cent over the past month crossing the $86 per barrel mark for the first time since November 2023 --responding to seasonal tightening in physical markets, supply cut extensions, and a pick-up in geopolitical...
6 months ago
Morgan Stanley sees brent crude prices hitting $90/barrel this summer
Global brokerage house Morgan Stanley sees brent crude oil prices hitting $90 per barrel this summer. The brokerage has revised its Brent oil price projections upward by $10 per barrel to $90 for the third quarter of 2024. This adjustment is attributed t...
6 months ago
Oil prices steady on US crude inventories rise lesser than expected ahead of OPEC meeting; Brent at $86/bbl
Oil prices were broadly stable on Wednesday, March 27, after US crude stockpile rose lesser than expected. Prices were dragged by indications that the Organization of Petroleum Exporting Countries (OPEC) is unlikely to change its output policy at its tec...
6 months ago
Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl
Global crude oil prices reported a second straight weekly gain and hit six-month high levels as markets watched for signs of any direct conflict between Israel and Iran that could further tighten supplies. This sudden uptick in crude oil prices has reign...
6 months ago
Oil prices drop after high US crude stock offsets impact of Middle-East conflict; Brent at $89/bbl
Oil prices fell on Wednesday, April 10, after US government data showed earlier today that crude oil and fuel inventories rose by much more than expected on weak demand and lower oil exports. US crude stocks climbed by 5.8 million barrels in the week end...
6 months ago
Morgan Stanley hikes Q3 outlook to $94 on geopolitical tensions as Brent hovers over $90/bbl
Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks. "That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and...
6 months ago