With oil falling over 3% this week, market analysts question the impact of Federal Reserve policies and OPEC+ decisions.
A subsidiary of state-run China National Offshore Oil Co , has signed oil exploration and production contracts with Mozambique's energy ministry and national energy company ENH, Chinese media said on
Oil prices were steady early in the session on Friday as players took stock of the U.S. Federal Reserve's latest comments on interest rates amid sticky inflation, while firming seasonal U.S. fuel dema
WTI crude oil's lowest close since February 26 indicates weakening, with potential bearish continuation on a drop below 76.83.
Oil traders worry that hawkish Fed may hurt oil demand growth.
The crude oil markets bounced a bit in the early hours of Thursday, as the market continues to try to sort out whether or not we can break out of the consolidation.
Russia, in a rare admission of oil overproduction, said overnight that it exceeded its OPEC+ production quota in April for "technical reasons", a surprise move that analysts and industry sources say s
U.S. crude oil is down 2.4% for the week while Brent, the global benchmark, is down 1.8%.

Oil prices attempt to snap 3-day losing streak

07:36am, Thursday, 23'rd May 2024
Oil futures rose Thursday morning, attempting to snap a three-day losing streak as investors weigh the outlook for Federal Reserve policy and crude demand.
Given the Fed's indication of potential rate hikes and the unexpected rise in crude inventories, the short-term outlook for crude oil remains bearish.
India and Egypt were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in April, traders said and LSEG data showed.

Haque: UAE, Saudi Non-Oil Growth Resilient

02:29am, Thursday, 23'rd May 2024
Khatija Haque, Emirates NBD, Chief Economist and Head of Research, discusses UAE growth for 2024. She speaks with Joumanna Bercetche and on Horizons: Middle East & Africa.
WTI and Brent crude prices fell 0.20%, prompting speculation about a potential bullish correction in the market.
Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand.
Citi Research continues to expect that OPEC+ will hold its production cuts through the third quarter of this year, it said in a note on Wednesday.
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