Tag: Oil demand 2023

Oil remained little changed on Monday as traders wait to see if lawmakers approve the U.S. debt ceiling deal that policymakers agreed to on the weekend. The agreement was reached in a 90-minute telephone call between U.S. President Joe Biden and Republican House Speaker...

Oil prices rose for a third consecutive day on Wednesday after Saudi Arabia submitted a warning to traders thinking of short selling. The Saudis' warning has given rise to expectations that OPEC+ could look to further reduce oil output in an effort to continue...

Oil headed toward its first weekly gain in over a month on Friday amid renewed optimism that the U.S. government will reach an agreement to raise its debt ceiling. West Texas Intermediate—the U.S. benchmark—traded at a little over $72 per barrel, marking a rise...

U.S. oil refiners are aiming to rise to approximately 94% of their oil-producing capacity this quarter, numerous company forecasts and analysts have reported. The current oil production capacity stands at 17.9 million barrels per day. This rise in production is largely driven by expectations of...

Oil advanced on Monday as investors look for signals to indicate changes in demand following a period of turbulence. While fears of an impending U.S. recession and the ongoing banking instability shook investor confidence, oil prices were offset by a drop in crude supplies...

Oil extended its weekly losses on Monday morning as data from China indicated a decline in the country's manufacturing activities, thereby indicating that the country's economic recovery is going less smoothly than expected. West Texas Intermediate futures, the U.S. benchmark, fell by 2.3% during the...