Russia’s Energy Ministry announced on Wednesday that the country’s oil production was 300,790 barrels per day (bpd) on the 1st of May, which is below the level registered in October and far less than requested under the OPEC agreement.
read more... 05/05/2017
Oil prices dropped for the fourth consecutive day on Thursday, hitting their lowest level since November 2016, after data showed a less than expected decline in U.S. inventories and as OPEC and other producers would probably disapprove more supply cuts to reduce the world's persistent glut of crude.
read more... 05/05/2017
Oil prices slightly fell on Tuesday on reports of rising oil production in the US, Canada, and Libya as well as weaker compliance of OPEC members with the deal to cut production during the first half of this year.
read more... 03/05/2017
Oil prices continued their sliding trend on Wednesday as data showed a growth in U.S. crude inventories, while record oil supplies in the rest of the world put doubt on OPEC's ability to reduce supplies and tighten the market.
read more... 27/04/2017
Oil prices settled slightly higher on Tuesday in seesaw trading as unexpected build in U.S. crude inventories offset much of the production cuts by OPEC and other nations trying to reduce a global glut in crude.
read more... 26/04/2017