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Oil prices up over 4% for week ending March 5
- Prices rise on back of OPEC+ decision to maintain rather than raise output cuts for April
Oil prices to rise to $75 per barrel in April: WoodMac
- Saudi Arabia's adamant stance not to raise production before seeing actual recovery helps prices, says consultancy
OPEC+ meeting highlights Saudi's leadership
- Group, except for Russia and Kazakhstan, will continue production cuts for April
Oil up as OPEC agrees roll over of output cuts in April
- Rising value of dollar also exerts downward pressure on oil prices which are indexed to US dollar
OPEC+ agrees to extend output cuts for another month
- New production scheme again includes output rise exemption for Russia and Kazakhstan
OPEC+ meets to discuss production quota after March
- Group is currently imposing 8.05 million bpd output cuts, including 1 million bpd of additional cuts from Saudi Arabia
Oil up as OPEC+ expected to keep output cuts unchanged
- Prices soar despite highest-ever increase in US crude oil inventories since 1982
OPEC+ meeting to test ability to keep market tight
- Amid concerns of group's likely decision to raise output, experts say meeting will also reflect group’s strength, coherence
Oil prices up with more optimistic demand outlook
- Price rise comes despite build of 7.4 million barrels in US crude inventory relative to forecast of 1.9 million-barrel fall
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OPEC foresees recovery of oil market in 2021
- Speaking at group’s Joint Technical Committee meeting, OPEC Secretary General stresses cautious optimism
Oil slips ahead of OPEC+ meeting on Thursday
-Concerns over OPEC+ output increases and uncertainty over oil demand recovery still weigh on oil prices
Oil prices up with US relief bill, 3rd vaccine approval
- Geopolitical risks continue weighing on oil prices after Saudi-Yemen tension and US attack on Iranian positions in Syria
Oil prices fall as dollar appreciates
- Recent high oil prices encourage greater production to exert downward price pressure
Oil prices up over Fed’s lower interest rates
- Price rises come despite 1.3 million-barrel build in US crude inventories
Oil down as Texas refineries curb demand, US stocks rise
- US crude oil inventories are forecast to rise by over 1.03 million barrels, API figures show
Oil prices up over slow output return in Texas
- Hopes for yet-to-be-approved US stimulus package also boosts oil prices
Oil up as market stabilizes with end to US cold snap
- Hopes over higher US stimulus deal also support oil prices
Oil prices down over lack of demand in Texas refineries
- Drop in US crude inventories last week limits further declines, signaling demand uptick in world's largest oil consumer
Oil prices extend gains over Texas supply cuts
- US crude oil inventories are forecast to fall by 5.8 million barrels, API figures show, easing weak demand fears
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Oil prices up as cold front in Texas halts production
- Rising tensions in Middle East and hopes for wider access to COVID-19 vaccine also support higher oil prices
Oil prices hit 13-month high with demand optimism
- Rising tensions between Saudi Arabia and Yemen along with positive developments on US relief pack also boost oil prices
Global oil demand to increase 6.41% in 2021: OPEC
- Crude output increases mainly in Saudi Arabia, Venezuela and Iran but decreases in Libya, Nigeria and Iraq, says OPEC
Oil prices down over doubts on vaccine efficacy
- Limiting further declines, US crude oil inventories fall by 6.6 million barrels
Oil prices down over concerns of viability of vaccines
- Easing weak demand fears, US crude oil inventories are forecast to fall by 3.5 million barrels, API figures show
Oil prices up on optimism over oil demand recovery
- Oil prices jump back to pre-pandemic levels at over $61 a barrel
US stocks open with records as metals, oil on rise
- House Democrats to later announce support for families with at least $3,000 per child as part of Biden's relief plan
Brent oil price up 7.4% for week ending Feb. 5
- Decline in US crude oil inventories and first-time claims for unemployment benefits offer support for rising oil prices
Oil prices up over output cuts, positive economic data
- Americans filing first-time unemployment claims fell by more than expected, signaling rebound in US labor market