Tag Archives: Oil prices

Crude oil prices have surged more than 19 per cent after a drone strike on a Saudi Arabian oil facility wiped out about five per cent of global supplies. Brent prices, according to Bloomberg, jumped as much as $11.73 to $71.95 a barrel in early trading in Singapore.

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Oil prices steadied on Wednesday after slipping prices as Saudi Arabia and Russia say they will pump more crude oil in response to falling global crude inventories and rising consumer prices. Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by one million barrels per day (bpd) to counter potential supply shortfalls from Venezuela and Iran. Brent …

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Oil prices were largely up yesterday as traders waited to see whether oil- producing countries set to meet in Vienna, Austria would extend production limits to reduce the global crude glut. The brent crude was trading at $56.29 dollars a barrel. U.S. crude was 50.64 dollars. Ministers from the Organisation of Petroleum Exporting Countries (OPEC), Russia and other producers will …

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Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States. Brent crude oil was up 40 cents at 52.06 dollars a barrel by 0715 GMT. United States light crude was 35 cents higher at 47.72 dollars. “U.S. crude oil stocks have been falling consistently in recent weeks,” said Fawad Razaqzada, market analyst …

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