Oil Industry News
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Asian markets mixed as tech recovery stutters, oil slips
Asian markets fluctuated Monday as investors struggled to maintain last week's late tech recovery, with traders turning their focus to the upcoming earnings season, while oil prices fell on further supplies passing through the Strait of Hormuz.
Oil Edges Lower on OPEC Increase, Dollar Steady: Markets Wrap
Oil opened lower as energy flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Traders were also focused on the Korean won's first day of 24-hour trading. S&P 500 futures held Friday's gain after US markets were shut…
Oil, gas tankers cross Hormuz via Oman-side route after U-turns
Oil and gas shipping along a U.S.-protected corridor in the Strait of Hormuz showed signs of recovering Sunday, a day after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor. Six oil and gas freighters were…
Oil slips after OPEC+ agrees to raise output targets
Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies. SCROLL TO CONTINUE WITH…
Diamondback Energy's (FANG) Viper Energy Completes Acquisition of Riverbend Oil & Gas IX Assets
Diamondback Energy Inc. (NASDAQ: FANG) is one of the 10 Most Undervalued NASDAQ Stocks to Buy Right Now. On July 1, Viper Energy, a subsidiary of Diamondback Energy, announced the completion of its acquisition of Riverbend Oil & Gas IX, LLC. The…
The Strait of Hormuz has reopened - why that might be a problem for the oil market: Chart of the Day
As the war has wound down and the US and Iran continue ongoing negotiations, ship traffic through the Strait of Hormuz has begun to pick up, sending increasing amounts of oil to the global market that has been starved for it. That might be a…
Oil slips after OPEC+ agrees to raise output targets
Zhang Fengguo | Xinhua News Agency | Getty Images Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are recovering, potentially adding…
OPEC+ countries say they will expand monthly oil production
OPEC+ members have announced plans to boost oil production as energy markets show tentative signs of recovery amid the fallout of the US-Israel war on Iran. OPEC+ said on Sunday that seven member countries – Saudi Arabia, Russia, Iraq…
US futures and Asian shares are mixed while oil prices decline as some exporters opt to raise output
Asian shares and U.S. futures were mixed on Monday following a long weekend on Wall Street, while selling of technology shares pulled benchmarks in Tokyo and Seoul lower. Oil prices slipped after OPEC+ announced Sunday that seven of its members…
Trump to Meet Zelenskyy at NATO, Oil Slips on Hormuz Flow, More
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Indian Stock Market: Crude Oil, Global Trends, TCS Q1 Earnings to Drive Sentiment
The Indian stock market is poised for a dynamic week, with crude oil prices, global economic indicators, and the highly anticipated Q1 earnings report from IT giant TCS on July 9 set to significantly influence trading sentiment. Indian stock market…
7 OPEC+ countries agree to expand monthly oil production modestly as prices slide
NEW YORK (AP) — A handful of countries in the OPEC+ oil-producing alliance plan to increase their outputs modestly next month, which would bring more oil online after fuel prices have fallen to levels not seen since before the U.S. and…
Oil Falls, Weighed by OPEC+ Decision to Increase Output Again
2335 GMT — Oil falls, weighed by the OPEC+ decision to increase output again. After a virtual meeting on Sunday, the group said it would hike production by about 188,000 barrels a day in August, marking fifth consecutive monthly increase.
Why Iran may find it difficult to clear its oil inventories even after sanctions relief
World's top crude importer, China, has not been enthusiastic about oil purchases. Oil supply is also expected to increase following OPEC+ agreement to add 188,000 barrels a day to their output target for August. Middle East conflict has 'sharpened…
A Sudden Glut of Oil Threatens to Weaken Iran's Hand in Talks
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