Oil prices extended gains on Monday to touch their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to keep supplies down for another month to tighten global markets
Top oil exporter Saudi Arabia has raised the prices for most of its crude to Asia in September after announcing an extension of its voluntary production cut for another month.
Saudi Arabia has extended its one million barrel-per-day production cuts into September, while Russia announce it will cut oil exports, sending oil prices higher. Lipow Oil Associates President Andrew
Production cuts from Saudi Arabia and Russia provide strong support to oil markets.
The crude oil markets have initially pulled back just a bit during the trading week but have turned around to show signs of life again as it looks like we are ready to break out.
The crude oil markets have rallied a bit during the trading session on Friday, as it looks like we are trying to break out of significant resistance.
A panel meeting of the top ministers of OPEC+ has kept oil output policy unchanged on Friday, two OPEC+ sources said.
Oil prices are closing in on a 6-week winning streak, given the ongoing production cuts from Saudi Arabia, Russia, amid fear of an economic slowdown.
Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through next m

Hamm Says Oil Could Reach $80 by Year's End

02:39pm, Thursday, 03'rd Aug 2023
Billionaire shale pioneer and Continental Resources Chairman Harold Hamm says the US could be producing even more oil than it does now. He expects crude to finish the year in the high $70s or low $80s
Oil markets are moving higher as traders focus on tight supply.
Crude oil markets have stabilized a bit during the trading session as the market has seen so much in the way of selling pressure during the previous session.
Oil futures were slightly lower early Thursday, extending a decline after a downgrade of the U.S. credit rating dented sentiment across markets, offsetting a record drop in U.S. crude inventories.
Oil prices hold steady amid credit downgrade impact, supported by producers' cuts, and boosted by record stockpile drop reflecting demand surge.
Oil prices rose slightly in early Asian trading on Thursday, as markets weighed bullish U.S. inventory data on Wednesday and a likely extension of OPEC+ output cuts against the fallout of Fitch's down
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