Oil largely unchanged as traders brace for OPEC+ negotiations
Oil prices moved only marginally on Tuesday as the market waits for a clear message from ongoing OPEC+ negotiations, after a turbulent meeting the previous day.
Oil prices moved only marginally on Tuesday as the market waits for a clear message from ongoing OPEC+ negotiations, after a turbulent meeting the previous day.
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Oil prices declined on Monday as OPEC+ does not appear to have a clear consensus yet on extending its current production levels, contrary to what the market has already priced in.
Oil prices finally put a halt on their continuous rise, as traders focused again on the worsening short-term oil demand.
Oil prices continued to rise today on confidence that Covid-19 vaccines and OPEC+ will help the market earlier than expected.
Oil rose on Wednesday on vaccine and OPEC+ hopes, but the ground may be too shaky to support such gains.
Neptune Energy is lending its support to a range of social investment initiatives and will work with charitable organisations dedicated to providing mental health support and enhancing employment opportunities for younger people.
Oil prices rose today, supported by optimism about the coming OPEC+ meetings and by China’s recent crude processing data.
Oil prices kept their gains on a combination of good news, the vaccine prospect, US crude stocks and OPEC+ supply indications.
The company’s base case outlook projects some 200 billion boe of new gas resource developments needed to meet demand through to 2040.
Oil prices extended their gains on Wednesday as Covid-19 vaccine euphoria continues to drive markets, assisted by a report that US crude stockpiles have decreased further than expected for another week.
Oil prices recover as the uncertainty over the US election result subsides, but the market has challenges to face in weeks ahead.
The Abu Dhabi International Petroleum and Exhibition Conference (ADIPEC) 2020 Virtual Conference, the world’s largest gathering of oil and gas industry players, is set to begin on Monday 9 November 2020.
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