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OPEC news

Oil edges up on price correction, traders brace for August

Oil prices rose a bit today, correcting some of yesterday’s losses, which were more a sign of shock on economic collapse figures. Nevertheless, traders brace for August, a month of returned production from OPEC+ amid stalled demand recovery.

 

Oil falls on Covid-19 fears, OPEC's production comeback

Oil prices are falling today, with traders ignoring yesterday’s US crude stock news and acknowledging Covid-19’s threat to the demand recovery, while waiting for OPEC’s returned production to hit the market again.

 

Rystad Energy comments on OPEC+ meeting

Paola Rodriguez-Masiu, Senior Oil Markets Analyst at Rystad Energy, has commented on what yesterday's OPEC+ meeting may mean for oil prices.

 
 
 
 
 

Oil prices strengthen after morning scare

Oil prices recovered early losses and see gains on relief that international trade remains unchanged, while road fuel demand stands strong despite a spike in Covid-19 cases.