Crude oil news articles
Here are some recent crude oil news articles:
1. OPEC+ Agrees to Increase Oil Production
Source: Bloomberg, March 5, 2023
OPEC+ has agreed to increase oil production by 400,000 barrels per day (b/d) in April, despite concerns over the impact on global oil supplies. The decision comes as the global economy shows signs of recovery from the COVID-19 pandemic.
2. US Crude Oil Inventories Fall Sharply
Source: Reuters, March 9, 2023
US crude oil inventories fell by 4.4 million barrels last week, according to data from the Energy Information Administration (EIA). The decline was driven by increased demand and a decrease in imports.
3. Saudi Arabia to Increase Oil Production
Source: CNBC, March 14, 2023
Saudi Arabia, the world's largest oil exporter, has announced plans to increase its oil production capacity to 13 million barrels per day (b/d) by 2027. The move is aimed at meeting growing global demand and reducing reliance on other oil-producing countries.
4. Crude Oil Prices Rise on OPEC+ Decision
Source: The Wall Street Journal, March 16, 2023
Crude oil prices rose by 2% after OPEC+ agreed to increase oil production. The decision was seen as a positive sign for the global economy, but some analysts warned that it could lead to a surge in oil supplies and put downward pressure on prices.
5. US Shale Producers Boost Oil Output
Source: Forbes, March 21, 2023
US shale producers have increased their oil output in recent months, driven by higher prices and improved drilling efficiency. The increase in production is expected to continue, with some analysts predicting that US shale output could reach 10 million barrels per day (b/d) by the end of the year.
6. Russia's Oil Exports Fall Sharply
Source: Financial Times, March 24, 2023
Russia's oil exports have fallen sharply in recent months, driven by Western sanctions and a decline in global demand. The decline is expected to continue, with some analysts predicting that Russia's oil exports could fall by as much as 1 million barrels per day (b/d) by the end of the year.
7. Crude Oil Prices Fall on Economic Concerns
Source: Bloomberg, March 28, 2023
Crude oil prices fell by 3% after concerns over the global economy and demand for oil. The decline was driven by a weaker-than-expected jobs report in the US and concerns over the impact of the war in Ukraine on global trade.
8. OPEC+ to Meet Again in April
Source: Reuters, March 30, 2023
OPEC+ has announced that it will meet again in April to discuss oil production levels. The meeting is expected to be closely watched by investors and analysts, who will be looking for signs of any changes to the group's production policy.
9. US Crude Oil Exports Reach Record High
Source: CNBC, April 4, 2023
US crude oil exports reached a record high in March, driven by increased demand from refineries in Asia and Europe. The increase in exports is expected to continue, with some analysts predicting that the US could become a net exporter of oil by the end of the year.
10. Crude Oil Prices Rise on Supply Concerns
Source: The Wall Street Journal, April 11, 2023
Crude oil prices rose by 2% after concerns over global oil supplies. The increase in prices was driven by a decline in oil inventories and concerns over the impact of the war in Ukraine on global trade.
I hope these articles provide you with some useful information on the latest crude oil news!