Page 9 - Oil Demand

Oil prices climb with Opec+ signalling more gradual supply hike

Futures in New York rose as much as 3.7 per cent on Thursday to the highest intraday level since 2018

Oil prices strike 2018 highs on demand recovery, Iran nuclear talks

Oil prices climbed to highs last seen in October 2018 on Monday as the United States and Iran wrangled over the revival of a nuclear deal, delaying a surge in Iranian oil exports

Oil prices rise for fifth week to highest since 2018 on strong demand

Brent futures rose 62 cents, or 0.8 per cent, to settle at US$76.18 a barrel, while US West Texas Intermediate (WTI) crude rose 75 cents, or 1.0 per cent, to US$74.05

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

Oil steadies near three-year highs on recovery signs

NEW YORK (Reuters) -Oil prices steadied on Thursday, holding close to their highest levels in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity.

Oil prices rise to over two-year high as demand improves, supplies tighten

U.S. West Texas Intermediate rose 27 cents to $71.18 a barrel. It hit a session high of $71.78 a barrel, its highest since October 2018.

Oil prices climb as demand outlook improves, supplies tighten

Brent crude was up 51 cents, or 0.7%, at $73.20 a barrel by 0644 GMT

Iraq oil minister Ihsan Abdul-Jabbar Ismail says gas sector a priority

Iraq's oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq's oil minister said Friday. But he also warned that an enduring bureaucratic culture of fear threatens to stand in the way. Iraq is currently trading oil at $68 per barrel, close to the approximately USD 76 needed for the state to operate without reliance on the central bank to meet government expenditures. Oil Minister Ihsan Abdul-Jabbar Ismail took over the unenviable job of supervising Iraq's most vital industry at the height of an oil price crash that slashed oil revenues by more than half last year. Since then, he has had to balance domestic demands for more revenue to fund state coffers and pressure from OPEC to keep exports low to stabilise the global oil market. With the sector rebounding, Ismail told The Associated Press, he can now focus on other priorities. In the interview, he offered a rare glimpse into the inner-workings of

Oil prices dip, but head for third weekly rise on demand recovery

Brent crude futures edged down 4 cents, or 0.06%, to $72.48 a barrel at 0658 GMT

Oil prices retreat, but heads for third weekly rise on demand recovery

Brent crude futures fell 16 cents, or 0.22%, to $72.36 a barrel at 0558 GMT, after closing at its highest since May 2019 on Thursday

Oil dips on profit-taking after logging two-year high on OPEC+ curbs

NEW YORK (Reuters) - Oil prices pulled back on Monday after touching two-year highs on expectations of improved demand and OPEC producers keeping supply curbs in place.

Oil inches higher as upbeat demand outlook counters supply concerns

Brent was up 33 cents, or 0.5%, at $69.79 a barrel by 1333 GMT

Oil steadies on stronger demand outlook as US inventories decline

Brent rose 16 cents, or 0.2%, to $68.81 a barrel by 11:20 a.m. EDT (1520 GMT), and US West Texas Intermediate (WTI) crude was up 11 cents, or 0.2%, at $66.18 a barrel

Oil prices drop as India's coronavirus crisis puts brakes on rally

Oil demand was already outstripping supply and the shortfall was expected to grow even if Iran boosted exports

Oil prices on track for near two-year high on rising demand outlooks

Brent futures rose $1.12, or 1.6 per cent, to $69.67 a barrel by 10:44 am EDT (8.14 pm IST), while US West Texas Intermediate crude rose $1.10, or 1.7 per cent, to $66.38

Opec sticks to 2021 oil demand growth forecast despite Indian Covid crisis

The Organization of the Petroleum Exporting Countries expected demand to rise by 5.95 million barrels per day (bpd) this year, or 6.6%, its forecast unchanged from last month.

Crude oil erases loss with Opec+ panel raising demand growth outlook

The deteriorating situation there could pose a problem for the Organization of Petroleum Exporting Countries and its allies, which have agreed to start adding more supply from May

S&P Global Platts cuts India's 2021 oil product demand forecast by 9%

The total oil demand in India, according to their estimate, had declined to 470,000 b/d in 2020

Crude oil jumps above $64, marking one year of crash below zero

West Texas Intermediate advanced 1.3 per cent, adding to Monday's modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute

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