Page 2 - Crude Oil Market

OPEC+ sees tighter oil market until May 2022; Group set to meet today

OPEC+ expects the oil market to be in deficit at least until the end of 2021 and stocks to stay relatively low until May 2022, OPEC+ sources said

OPEC+ panel sees risk of oil market imbalance after April 2022 -report

The panel, known as the Joint Technical Committee, sees an overhang of crude by the end of 2022 under different scenarios looking at supply and demand in the oil market, the report showed.

Iran gears up for return to global oil market as US talks advance

US and Iranian diplomats, currently negotiating via intermediary governments in Vienna, have signaled that an agreement is within reach

Oil steadies as dollar slumps but Covid-19 pandemic surge weighs

Brent crude was down 4 cents, at $66.73 a barrel by 11:06 AM ET (1506 GMT), after rising 6% last week

Discovered small fields: Govt may extend bank guarantee relaxation

Officials in the know say this re­laxation was given during the first wave of the Covid-19 pandemic

India's energy alliance with Saudi totters after years of co-operation

India is the third largest market for Saudi crude. But after a year of Covid, the latter isn't keen to let prices hover at under $80 a barrel, the break even at which its budget wipes off red stainsi

Fall in global crude oil prices gives hope for dip in domestic fuel rates

Resultantly, global fears have resurfaced on the slowdown economic recovery due to this wave

Oil dips after surge in U.S. crude inventories

By Laila Kearney

Oil prices hovers near 13-month highs as storm hits US production

Both contracts touched their highest since Jan. 8, 2020, earlier in the session with Brent at $67.49 and WTI at $63.67. The April Brent contract expires on Friday

Crude oil's fate could be in hands of commodity supercycle

OPEC+ will have an important say in how the oil supercycle plays out. Oil prices are now at a level that could bring at least the smaller US operators back and even start to tempt renewed longer-cycle

Oil rises on declining US crude stocks, hopes of Covid-19 vaccine

Crude stockpiles fell by 5.1 million barrels last week to about 482 million barrels, industry group data showed on Tuesday

US election outcome, Libyan crude return can change oil market dynamics

The fragile state of US shale producers could mean the majority of supply growth next year will be driven by OPEC+

Oil market: Muddle of contradictions as traders size up prospects for 2020

As prices stick to a narrow range near $40 a barrel, some of the biggest commodity houses, including Vitol Group, Trafigura Group, and Mercuria Energy Group, have diverging views about what's next

With fuel demand falling, Indian Oil bets on plastics to cushion the blow

While there is consumer and govt pressure across the world to reduce the use of plastics, processors in Asia are building or planning petrochemical plants with demand for transport fuels set to ease

Oil steady as coronavirus lockdown fears offset gasoline recovery signs

Brent crude futures edged up 2 cents, or 0.05%, to $43.31, after gaining 0.5% on Wednesday

Oil prices inch higher on output cut support, but US virus spike caps gains

US West Texas Intermediate (WTI) crude futures climbed 13 cents, or 0.3%, to $40.76 a barrel at 0103 GMT, recouping a 2 cent loss from Monday

Brent is likely to find support in June in the range of $35-40/barrel

The speed at which the oil market rebounded to $40 per barrel has certainly grabbed attention, but it needs to walk before it can run

Demand recovery, storage facility ramp up key for sanity in crude oil price

On Monday, the front-month US WTI benchmark crashed into negative territory for the first time ever in history

Covid-19 lockdown: Fuel demand likely to slip 40% in April, says report

India is the world's third-largest energy consumer but the Covid-19 lockdown has shut businesses, suspended flights, stopped trains and brought almost the entire vehicular movement to a halt

Covid-19: Oil crash poses test for OPEC+ after Moscow, Riyadh miscalculate

An OPEC source briefed on Saudi oil policy said the scale of the fall in demand might require action beyond the scope OPEC+ could take alone