Oil prices will drop further this year, with the trend spilling over to 2026, according to Goldman Sachs. The investment bank forecasts that increased production output from OPEC+ and the looming risk of recessions will lead to “large surpluses,” which will weigh down on...
The prices of oil dropped on Wednesday after a recent report on US crude inventories showed a much larger increase than expected.
The US West Texas Intermediate (WTI) crude saw a 1.4% or $0.97 slide to close the day at $70.77 per barrel. Brent crude,...
Oil prices rose on Thursday as the United States faces an intense storm and tensions in the Middle East continue to simmer. Brent crude futures rose by 0.8%, or 58 cents, to $77.16 per barrel, while the US benchmark, West Texas Intermediate, gained 0.8%,...
Oil prices steadied on Wednesday as China appeared to have circled back to its previously proposed fiscal stimulus package that was struck down. The Chinese government has scheduled a meeting on Saturday to set its fiscal policy.
China's finance minister is expected to introduce policy...
The U.S. Energy Information Administration (EIA) expects the United States' natural gas production to decrease in 2024 despite demand being projected to reach a record high. In its Short Term Energy Outlook, the EIA forecasted that dry gas production would hit around 103.5 billion...
OPEC+ announced earlier this week that it will delay an increase in oil production, which was scheduled for October. This is a response to falling crude prices that fell to their lowest since early 2024.
OPEC+ is a coalition between the Organization of the Petroleum...
