LONDON (Reuters) -Oil steadied near $85 a barrel on Tuesday, not far from a multi-year high, supported by signs that supply from OPEC and other producers is falling short, although expectations of a rise in U.S. inventories was weighing. The…
Does Nigeria have a plan outside OPEC?
A few weeks ago, talks of increasing the production of Sweet Crude turned sour as the United Arab Emirates and other member nations could not reach a unanimous agreement at the OPEC+ meeting. The United Arab Emirates presented a stumbling…
OPEC Rebel Ecuador To Cap Oil Output 20,000 BPD Higher
One month after abandoning the OPEC production cut deal and shaking the alliance, Ecuador said this week that it was planning to cap its crude oil production at the current level of 541,000 bpd so as to not undermine the cartel’s…
Oil dips on glut but Chinese and U.S. data supports
Oil prices dipped on Thursday on worries about oversupply, but strong Chinese imports and signs that U.S. storage tanks were gradually being drained offered some support. Brent crude fell 20 cents to $47.54 a barrel by 0730 GMT and U.S.…