Page 2 - Oil Supply

Oil prices climb on prospects for tighter supply as demand rises

Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the US summer driving season

Oil prices rise from three-week low as supply concerns linger

Japan will release 15 million barrels of oil from state and private reserves as part of the move, Kyodo news agency reported on Thursday

Oil prices see-saw amid hopes of new Iran deal, supply woes linger

Crude prices declined in volatile trading on Thursday as investors assessed the potential for new supply in the tight markets amid prospects of a new Iran deal

Top headlines: Putin says Kyiv dragging negotiations; oil rally continues

Here are the top headlines on Friday

IEA urges reduced transport to cut oil use amid supply crunch

By Noah Browning

Vedanta's Anil Agarwal bets $4 bn on oil hunt amid price surge

Cairn's plan stands out compared to producers around the world, most of whom are staying away from committing investments in oil and gas

Oil firms amid supply worries, but heads for sharp weekly decline

Brent crude futures climbed $2.48, or 2.27%, to $111.81 a barrel at 0747 GMT after dropping 1.6% in the previous session.

Oil crawls higher on supply doubts, but heads for sharp weekly decline

Oil prices clawed back some losses on Friday but were on track for their biggest weekly drops since November after see-sawing on fears of escalating bans on Russian oil

Global oil prices fall most in 2 years as UAE supports output hike

Global oil prices fell on Wednesday by the most in nearly 2 years after OPEC member the UAE said it supported pumping more oil into a market roiled by supply disruptions due to sanctions on Russia

Russia-Ukraine crisis: Brent crude tops $121 a barrel, wheat at 24-yr high

In India, MCX crude futures for March 21 delivery hit an all-time high of $8,274 a barrel.

Oil dips below $89 on potential for faster supply boost

While the OPEC+ has been expected to maintain its policy of gradual production increases at a meeting on Wednesday, Goldman Sachs said there was a chance of further steps

Oil hits 7-year high as Houthi attack on UAE ratchets up regional tensions

Brent tests $88-mark on possible supply issues

Oil rallies as Opec meets, but supply concern looms

Brent crude futures for February were up $2.08, or 3%, at $71.31 a barrel at 1445 GMT.

Oil prices drop on oversupply warnings, rising Covid-19 cases

Brent crude futures dropped 32 cents, or 0.4%, by 1410 GMT to $82.11 a barrel

Oil prices slide on expectations of higher supply, weaker demand

The fall came after UN climate talks ended Saturday with a deal that for the first time targeted fossil fuels

OPEC+ committee expects oil market to return to surplus in 2022

The OPEC+ joint technical committee (JTC) expects the oil market to remain in a 0.9 million barrel per day (bpd) deficit this year, but hit a surplus of 2.5 million bpd in 2022

Oil down 1%; Covid-19 pandemic surge, renewed Mexico supply end rally

Fresh COVID-19 outbreaks fueled by the Delta variant are raising concerns about the strength of the economic recovery globally

Oil prices steady in undersupplied market but virus clouds demand

Oil prices were steady on Monday as the spread of the Covid-19 Delta variant stoked fears over future fuel demand, though crude supply looks set to be tight through the rest of the year

Oil slip but heads for steady week on supply tightness as demand recovers

Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers

OPEC+ plans new oil output policy meeting on Sunday, says report

Sunday's meeting will be held virtually as have all such discussions since last year