Oil price news

Rystad Energy has said that OPEC+ has "taken a tighter grip on the near-term crude oil fundamentals with Saturday’s extension decision."

On Saturday, OPEC+ agreed to extend the deal to withdraw almost 10% of global supplies from the market by a third month to the end of July.

Oil prices rose this morning on indications that an OPEC+ meeting is coming soon, with an agreement to extend June’s production-cut levels to July.

Oil prices fall as enthusiasm for a possible OPEC+ agreement to continue June’s production cuts for more months subsides.

Oil prices got a boost this morning on rumours that the coming OPEC+ meeting may keep high-level production cuts after June.

Oil prices rose this morning on anticipation for the coming OPEC+ meeting, which is rumoured to discuss maintaining high-level production cuts after June, Rystad Energy reports.

Oil prices fell this morning as traders priced in concerns over the future of crude stocks, geopolitical tensions and fears over how Covid-19 will progress.

Oil prices fell this morning as industry data hint a crude stock build in the US and as the potential for US-China tensions rises.

Although at a stable overall level, oil prices fell this morning on concerns over the coming production recovery and if it will again move supply to higher levels than demand justifies.

Oil prices rose this morning on indications that the global oil market is getting balanced soon, as supply cuts seem to meet the gradual demand rebound.