Investing.com - Oil prices settled lower for the second session in a row on Friday, ending at its weakest level in about a week as sentiment soured amid indications that supply from OPEC was set to rise, despite the cartel's agreement to curb production.
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LONDON (AP) — Lucy Harris thinks Britain's decision to leave the European Union is a dream come true. Nick Hopkinson thinks it's a nightmare.
A rebalancing of the oil market is progressing more slowly than expected, but it will speed up in the second half of the year, OPEC's Secretary General Mohammad Barkindo said on Sunday. "We are pretty sure that the rebalancing process may be going at a slower pace than earlier projected, but it is on course. It is bound to accelerate in the second half," Barkindo told reporters in the Russian city of St Petersburg.
DUBAI, United Arab Emirates (AP) — The Latest on the crisis diplomatic crisis between Qatar and four Arab countries (all times local):
U.S. West Texas Intermediate and international-benchmark Brent crude oil posted a volatile two-sided trade last week before settling lower. The bullish price action was fueled by a bigger-than-expected draw in U.S. inventories. The bearish news was increased production from OPEC. September WTI crude oil futures settled at $45.77, down $0.98 or -2.10% and October Brent … Continue reading Oil Price Fundamental Daily Forecast – Oil Ministers May Try to Limit Libyan, Nigerian Production at Key OPEC Meeting
