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Opec agrees to extend oil output cuts into 2020 as demand falters

Monday, July 1, 2019, 8:07 PM

OPEC will extend production cuts into 2020 as the world's leading oil exporters fret about a weakening outlook for global demand growth and the relentless rise in output from America's shale fields. Ministers from the group meeting in Vienna agreed to prolong their supply curbs by another nine months, said delegates, asking not to be named because the talks were ongoing.
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Oil prices rise as OPEC output cuts seen deeper than previously expected

Friday, December 21, 2018, 8:38 AM

Oil prices climbed after tumbling 5 percent in the last session, with OPEC production cuts that start next month seen being deeper then previously expected. Benchmark Brent crude futures were up 1.51 percent at $55.17 per barrel at 0112 GMT, recovering from losses of $2.89 per barrel the session before. US WTI crude futures rose 1.53 percent, or 70 cents, to $46.58 per barrel.
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Oil prices sink to year's low as equity slump adds to supply fear

Tuesday, December 18, 2018, 8:09 PM

Oil sank to another one-year low in New York as a sell-off in equities worsened crude market sentiments already soured by signs of plentiful American supplies. Futures in New York slipped as much as 4.1% after closing below $50 on Monday for the first time since October 2017. The US government expects shale-oil production to surge, potentially swelling already-abundant inventories.

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