crude

Saudi Arabia and Russia extend voluntary crude oil supply cuts until the end of June

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Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023 Alex Halada | AFP | Getty Images Heavyweight oil producers Saudi Arabia and Russia will extend their voluntary crude supply cuts until the end of the second quarter. The … Read more

Saudi Arabia’s Aramco halts plans to increase maximum crude production capacity

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Valvoline had last year decided to separate its retail services and global products divisions following a strategic review. Rafael Henrique/SOPA Images/LightRocket via Getty Images Saudi Arabia’s state-controlled Aramco on Tuesday announced it is shelving plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day, amid broader … Read more

U.S. crude oil sheds more than 10% in first annual decline since 2020

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A driver pumps gas at a Sunoco gas station in Washington, DC, US, on Tuesday, Nov. 28, 2023.  Al Drago | Bloomberg | Getty Images U.S. crude oil closed out the year more than 10% lower as bearish sentiment has taken over due to worries that the market is oversupplied from record production outside OPEC. … Read more

U.S. crude drops below $70 per barrel, gas prices fall to 11-month low

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Gas prices at a Shell gas station in Washington, DC, US, on Tuesday, Nov. 28, 2023. Al Drago | Bloomberg | Getty Images U.S. crude declined nearly 4% on Wednesday with retail gasoline prices hitting the lowest point since January ahead of the holiday shopping and travel season. The West Texas Intermediate contract for January … Read more

U.S. crude oil prices fall below $78 a barrel to their lowest since July

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An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. Joe Raedle | Getty Images News | Getty Images U.S. crude prices on Tuesday fellow below $78 a barrel to hit the lowest point since July as weak global economic data overshadowed concerns that the Israel-Hamas war … Read more

Peak crude demand is fueling anger and argument in the world of oil

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An off-shore oil platform off the coast in Huntington Beach, California on April 5, 2020. Leonard Ortiz | MediaNews Group | Orange County Register | Getty Images It’s been a war of words and numbers between two major players in the energy industry – the International Energy Agency and OPEC – as they spar over … Read more

U.S. crude oil costs high $90 a barrel for the primary time since November 2022

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The crude oil tanker Searuby arrives at Teesport on September 02, 2023 in Redcar, United Kingdom. Ian Forsyth | Getty Pictures Information | Getty Pictures Oil costs jumped on Thursday, with U.S. crude topping $90 a barrel, as expectations of a tighter provide grew. West Texas Intermediate crude (WTI) gained 1.7% to succeed in a excessive … Read more