Travel


Posts filtered by tags: Opec[x]


 

Oil gains on OPEC outlook that U.S. output growth will slow | Reuters

Oil gains on OPEC outlook that U.S. output growth will slow | Reuters Oil futures rose on Friday, reversing early losses and set for a fourth week of gains after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices.Officials at the Organization of the Petroleum Exporting Countries got the U.S. production outlook from industry experts, OPEC sources said. This would give the producer group more power to manage the market before a potential ...
Tags: Travel, Opec, Chicago, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


Saudis Say Cautious Approach to Restoring OPEC+ Output Paid Off - Bloomberg

Saudis Say Cautious Approach to Restoring OPEC+ Output Paid Off - Bloomberg Saudi Arabia’s cautious approach to reviving OPEC+ oil output has been proved correct, said Energy Minister Prince Abdulaziz bin Salman.After a year of oil market turmoil due to the coronavirus pandemic, fuel consumption is seeing robust growth and the International Energy Agency is calling for the cartel to boost supplies. Yet, in the minister’s view “we still are not out of the woods.”“Many claim that I’m excessively...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, International Energy Agency, Organization of Petroleum Exporting Countries, Abdulaziz, Rupert Neil Bumfrey, Abdulaziz bin Salman, Bloomberg Saudi Arabia


Goldman Lifts #SaudiArabia’s Growth Forecasts as Oil Prices Rise - Bloomberg

Goldman Lifts Saudi Arabia’s Growth Forecasts as Oil Prices Rise - Bloomberg Goldman Sachs Group Inc. has raised its expectations for Saudi Arabia’s oil production and economic growth as crude prices rise well over $70 a barrel.The bank’s Middle East and North Africa economist Farouk Soussa lifted his assumptions for Saudi oil production by around 500,000 barrels per day, to reach 10 million barrels by the end of 2021 and 10.5 million in 2022. That -- combined with the release of favorable non...
Tags: Travel, Saudi Arabia, Opec, Bloomberg, Middle East, Goldman, North Africa, Rupert Neil Bumfrey, Soussa, Farouk Soussa, Bloomberg Goldman Sachs Group Inc


Oil gains as risk of Iran supply resumption recedes | Reuters

Oil gains as risk of Iran supply resumption recedes | Reuters Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent crude was up by 38 cents, or 0.5%, at $73.24 a barrel by 0651 GMT, having risen 0.2% on Monday. U.S. oil gained 33 cents, or 0.5%, to $71.21 a barrel, having slipped 3 cents in the pre...
Tags: Travel, Opec, European Union, Iran, Vienna, United States, Tehran, Reuters, Reuters Oil, Rupert Neil Bumfrey, ING Economics, Tehran Brent


Iraq Sees Oil Prices at $68 to $75 a Barrel in 2nd Half - Bloomberg

Iraq Sees Oil Prices at $68 to $75 a Barrel in 2nd Half - Bloomberg Iraq, OPEC’s second-biggest oil producer, said crude prices will be in the range of $68 to $75 a barrel in the second half.The price range is expected because of a commitment to OPEC+ output cut, Iraq’s Oil Minister Ihsan Abdul Jabbar told reporters at the Baghdad International Book Fair.The Organization of Petroleum Exporting Countries had predicted earlier in the week that the recovery in global oil demand will gather streng...
Tags: Travel, Iraq, Opec, Bloomberg, Exxon, Exxon Mobil Corp, Organization of Petroleum Exporting Countries, West Qurna, Rupert Neil Bumfrey, Ihsan Abdul Jabbar, Bloomberg Iraq OPEC


Oil hits multi-year highs in third weekly gain on demand recovery | Reuters

Oil prices reached fresh multi-year highs on Friday, closing out a third straight week of gains on an improved outlook for worldwide demand as rising COVID-19 vaccination rates help lift pandemic curbs.Brent crude futures settled at $72.69 a barrel, rising 17 cents after reaching their highest since May 2019. For the week, Brent was up 1%.U.S. West Texas Intermediate (WTI) crude futures settled at$70.91 a barrel,up 62 cents, settling at their highest since October 2018. WTI was up 1.9% on the we...
Tags: Travel, Opec, Chicago, Brent, Reuters, International Energy Agency IEA, Organization of the Petroleum Exporting Countries, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group


#Saudi Energy Minister Prince Abdulaziz bin Salman to Speak at Robin Hood Forum - Bloomberg

Saudi Energy Minister Prince Abdulaziz bin Salman to Speak at Robin Hood Forum - Bloomberg For the past year, Saudi Energy Minister Prince Abdulaziz bin Salman has fought a war of words with oil speculators. Now, he’s taking his message to the heart of Wall Street.Prince Abdulaziz is scheduled to speak June 16 at the Robin Hood Investors Conference, a red-carpet event that brings together luminaries of the U.S. hedge-fund industry such as Paul Tudor Jones, Ray Dalio and Stanley Druckenmiller, ...
Tags: Travel, Saudi Arabia, Opec, Riyadh, Saudi Aramco, International Energy Agency, Abdulaziz, Rupert Neil Bumfrey, Stanley Druckenmiller, Tesla Inc, Abdulaziz bin Salman, Saudi Energy, Cathie Wood, Robin Hood Forum Bloomberg, Paul Tudor Jones Ray Dalio, La La LandFor


Oil Poised for Third Weekly Gain as IEA Sees Need for More Crude - Bloomberg

Oil Poised for Third Weekly Gain as IEA Sees Need for More Crude - Bloomberg PRICES West Texas Intermediate for July delivery rose 12 cents to $70.41 a barrel at 8:53 a.m. in New YorkPrices are up 1.2% this weekBrent for August settlement advanced 7 cents to $72.59, and are 1% higher for the week Oil headed for a third straight weekly gain on signs of improving demand, with the International Energy Agency warning that the market will need extra supply next year.Futures in New York h...
Tags: Travel, Asia, Europe, New York, Opec, Bloomberg, IEA, Latin America, International Energy Agency, Rupert Neil Bumfrey


Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half | Reuters

Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half | Reuters OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China despite uncertainties stemming from the pandemic, pointing to a need for more oil from the producer group.In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries said demand would rise by 6.6% or 5.95 million barrels per day (bpd) this year. The forecast was unchan...
Tags: Travel, China, Global, Opec, United States, Reuters, Organization of the Petroleum Exporting Countries, Reuters OPEC, Rupert Neil Bumfrey, Eurozone Japan, India OPEC


Oil Holds Steady After U.S. Build as Focus Turns to Inflation - Bloomberg

Oil Holds Steady After U.S. Build as Focus Turns to Inflation - Bloomberg PRICES West Texas Intermediate for July delivery was little changed at $69.97 a barrel at 10:01 a.m. London timeWTI slipped below $70 on Wednesday, after rising to the highest since 2018 earlier this weekBrent for August settlement edged up 0.1% to $72.29 Oil erased losses as traders awaited inflation data, after an increase in U.S. fuel stockpiles brought crude’s rally to a halt.Futures in New York held stead...
Tags: Travel, New York, London, Opec, UBS Group AG, Rupert Neil Bumfrey, Focus Turns to Inflation Bloomberg


Soaring Mideast Heat May Roil Oil Market as Demand Surges - Bloomberg

Soaring Mideast Heat May Roil Oil Market as Demand Surges - Bloomberg Soaring temperatures in one of the world’s top energy-producing regions could drive fuel prices higher as countries there burn more oil and natural gas to keep homes cool.Saudi Arabia, the United Arab Emirates and Kuwait are all experiencing weather that’s hotter than normal. That has coincided with a tightened crude market, with the Organization of Petroleum Exporting Countries and its allies continuing to hold back million...
Tags: Travel, London, Saudi Arabia, Iraq, Opec, Bloomberg, Middle East, United Arab Emirates, Kuwait, Gulf, Persian Gulf, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Oxford Institute for Energy Studies, Ahmed Mehdi, Bloomberg Soaring


Oil dips on profit-taking after logging 2-year high on OPEC+ curbs | Reuters

Oil dips on profit-taking after logging 2-year high on OPEC+ curbs | Reuters Oil prices pulled back on Monday after touching two-year highs on expectations of improved demand and OPEC producers keeping supply curbs in place.Prices retreated from session highs early, and analysts cited pressure from Chinese data showed crude oil imports fell to a year's low in May."That took away some of the enthusiasm that the oil bulls had seen," said Phil Flynn, senior analyst at Price Futures Group in Chica...
Tags: Travel, Opec, Chicago, Reuters, Reuters Oil, Jim Ritterbusch, Rupert Neil Bumfrey, Phil Flynn, Price Futures Group, Ritterbusch


OPEC chief, in upbeat oil outlook, sees oil stocks falling further | Reuters

OPEC chief, in upbeat oil outlook, sees oil stocks falling further | Reuters OPEC and its allies expect oil inventories to fall further in the coming months, OPEC's secretary general said on Monday, suggesting efforts by the producers to support the market are succeeding.Oil stocks in the developed world nations fell by 6.9 million barrels in April, Mohammad Barkindo said in a virtual appearance at the Nigeria International Petroleum Summit, 160 million barrels lower than the same time one yea...
Tags: Travel, Nigeria, Opec, Reuters, Reuters OPEC, Rupert Neil Bumfrey, Mohammad Barkindo


World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market - Bloomberg

World’s Top Oil Trader Vitol Sees OPEC+ Controlling Crude Market - Bloomberg OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group.The decline in U.S. drilling and output leaves little competition to efforts by the producers’ group to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel l...
Tags: Travel, Asia, Saudi Arabia, China, Russia, Opec, Iran, Organization of Petroleum Exporting Countries, Müller, Vitol Group, Rupert Neil Bumfrey, Gulf Intelligence, Mike Muller Vitol, Top Oil Trader Vitol, OPEC Controlling Crude Market Bloomberg, OPEC Controlling Crude Market Bloomberg OPEC


Oil hits two-year high on OPEC+ discipline, demand hopes | Reuters

Oil hits two-year high on OPEC+ discipline, demand hopes | Reuters Oil extended gains on Friday, with Brent topping $72 a barrel for the first time since 2019, as OPEC+ supply discipline and recovering demand countered concerns about a patchy COVID-19 vaccination rollout around the globe.The Organization of the Petroleum Exporting Countries and allies on Tuesday said they would stick to agreed supply restraints. A weekly supply report on Thursday showed U.S. crude inventories dropped more than...
Tags: Travel, Opec, Brent, Reuters, Reuters Oil, Petroleum Exporting Countries, Baker Hughes, Rupert Neil Bumfrey


Oil hits over 1-year high on OPEC+ supply discipline, demand prospects | Reuters

Oil hits over 1-year high on OPEC+ supply discipline, demand prospects | Reuters Oil prices surged on Wednesday, hitting the highest in more than a year on lift from a decision by OPEC and allies to stick to the plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States.Brent rose $1.1, or 1.6%, to settle at $71.35 a barrel. It reached $71.48 a barrel, its highest since January 2020.U.S. West Texas Intermediate (WTI) crude rose $1.11, or 1.6%...
Tags: Travel, Opec, Iran, Reuters, Reuters Oil, Rupert Neil Bumfrey, United States Brent, Louise Dickson Rystad


MIDEAST STOCKS Most Gulf markets track oil prices higher; Egypt falls | Reuters

MIDEAST STOCKS Most Gulf markets track oil prices higher; Egypt falls | Reuters Major Gulf stock markets ended higher on Wednesday, with Saudi Arabia extending gains into a seventh session amid rising oil prices, while financials dragged down the Egyptian index.Brent crude rose 1.2% to $71.09 a barrel by 1011 GMT, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States. read moreSa...
Tags: Travel, Saudi Arabia, Opec, Iran, United States, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Gulf, Reuters, Tadawul, Tasi, Rupert Neil Bumfrey, DFMGI, First Abu Dhabi Bank FAB


MIDEAST STOCKS #Saudi stocks extend gains, most major Gulf markets up in early trade | Reuters

MIDEAST STOCKS Saudi stocks extend gains, most major Gulf markets up in early trade | Reuters Most major Gulf markets rose in early trade on Wednesday, with Saudi stocks extending gains into a seventh session amid rising oil prices.Oil prices rose on Wednesday after OPEC and its allies stuck to their plan to cautiously bring back more oil supply to the markets in June and July while expecting a robust recovery in demand in the United States and China.Brent crude futures (.LCOc1) climbed 0.31% ...
Tags: Travel, Kingdom, Opec, Qatar, United States, Dubai, Abu Dhabi, Gulf, Reuters, IHS, IHC, Tasi, ADNOC, Rupert Neil Bumfrey, Al Rajhi Bank, Abu Dhabi ADI


Oil extends gains on OPEC+ supply discipline, demand prospects | Reuters

Oil extends gains on OPEC+ supply discipline, demand prospects | Reuters Oil prices rose on Wednesday after OPEC and its allies stuck to their plan to cautiously bring back oil supply to the markets in June and July while expecting a robust recovery in demand in the United States and China, the world's two biggest oil consumers.U.S. West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.27%, to $67.90 as of 0642 GMT, extending a 2.1% gain following the Memorial Day holiday in the Unit...
Tags: Travel, China, Opec, United States, Reuters, Reuters Oil, Petroleum Exporting Countries OPEC, Rupert Neil Bumfrey


OPEC+ Boosts Output in July and Keeps Market Guessing Beyond - Bloomberg video

OPEC+ Boosts Output in July and Keeps Market Guessing Beyond - Bloomberg OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery.“The demand picture has shown clear signs of improvement,” Saudi Energy Minister Prince Abdulaziz bin Salman said, in some of his most upbeat comments since the crash last year. But pressed on whethe...
Tags: Travel, Saudi Arabia, China, Opec, Bloomberg, Rupert Neil Bumfrey, Mohammad Barkindo, Abdulaziz bin Salman, Bloomberg OPEC, Europe OPEC


Oil settles up after hitting 15-month highs on demand prospects | Reuters

Oil settles up after hitting 15-month highs on demand prospects | Reuters Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output.Brent crude futures for August settled up 93 cents, or 1.3%, to $70.25 a barrel after hitting $71 earlier in the session - its highest intra-day price since March 8.U.S. West Texas Intermedia...
Tags: Travel, Opec, United States, Reuters, Reuters Oil, GasBuddy, Rupert Neil Bumfrey


OPEC+ Set to Sign off on July Hike as a Tenser Discussion Looms - Bloomberg

OPEC+ Set to Sign off on July Hike as a Tenser Discussion Looms - Bloomberg OPEC+ looked set to increase production in July as expected, as ministers prepare to tackle the thornier issue of how to handle a tightening oil market for the rest of the year.The Joint Ministerial Monitoring Committee recommended pushing ahead with the increase for July, when the group stands to add 841,000 barrels per day following hikes in May and June, according to delegates. There’s been no discussion yet on Tues...
Tags: Travel, Opec, Bloomberg, Iran, Rupert Neil Bumfrey, Joint Ministerial Monitoring Committee, Tenser Discussion Looms Bloomberg OPEC


Oil Market: OPEC+ Expected to Stick with July Output Boost - Bloomberg

Oil Market: OPEC+ Expected to Stick with July Output Boost - Bloomberg PRICES West Texas Intermediate for July delivery gained 0.7% to $66.76 a barrel on the New York Mercantile Exchange at 6:27 a.m. London time after advancing 4.3% last week.Futures are up 5% this month.Brent for August settlement rose 0.6% to $69.13 on the ICE Futures Europe exchange after losing 0.7% in the previous session.There are holidays in the U.S. and U.K. on Monday. Oil advanced in Asian trading with the mar...
Tags: Travel, New York, London, Russia, Opec, Bloomberg, Iran, Vienna, United Nations, New York Mercantile Exchange, Rupert Neil Bumfrey, ICE Futures Europe


Oil up, near $70 a barrel as demand outlook improves | Reuters

Oil up, near $70 a barrel as demand outlook improves | Reuters Oil prices firmed on Monday, with Brent trading near $70 a barrel on growing optimism that fuel demand will grow in the next quarter, while investors looked ahead to see how producers will respond at this week’s OPEC+ meeting.Trading was thin as U.S. and UK markets were closed on Monday due to public holidays. Brent crude futures settled up 60 cents, or 0.9%, at $69.32 a barrel, off the a session high of $69.82. U.S. West Texas Int...
Tags: Travel, UK, Opec, Reuters, Reuters Oil, Commerzbank, Rupert Neil Bumfrey


OPEC+ Talks to Offer Clues on Next Phase of Oil Supply Revival - Bloomberg

OPEC+ Talks to Offer Clues on Next Phase of Oil Supply Revival - Bloomberg For oil traders, the biggest question in the market is how fast OPEC and its allies will revive production later this year. Next week they may get some clues.When it meets on Tuesday, delegates said the alliance led by Saudi Arabia and Russia looks set to rubber-stamp output increases scheduled for the next two months.But more importantly, Riyadh and Moscow may offer insights on the next stage of their strategy: bringin...
Tags: Travel, Saudi Arabia, Russia, India, Opec, Bloomberg, Iran, Moscow, Riyadh, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Enverus, Bill Farren


#UAE Oil Firm Adnoc Raises $1.6 Billion in Stock, Bond Sale - Bloomberg

UAE Oil Firm Adnoc Raises $1.6 Billion in Stock, Bond Sale - Bloomberg Abu Dhabi’s state oil firm raised $1.64 billion through a stock and bond sale to institutional investors as the emirate continues to leverage energy assets to generate funds.The capital of the United Arab Emirates, contains almost all the OPEC member’s hydrocarbon reserves. The government, along with others in the region such as Saudi Arabia and Oman, is seeking to use money from energy assets to build new industries and di...
Tags: Travel, Saudi Arabia, Opec, United Arab Emirates, Oman, Abu Dhabi, ADNOC, Rupert Neil Bumfrey, Abu Dhabi National Oil Co, Abu Dhabi Adnoc, UAE Oil Firm Adnoc, Stock Bond Sale Bloomberg, Stock Bond Sale Bloomberg Abu Dhabi, Adnoc Distribution PJSC


Gulf 2021 deficits to fall to $80 bln on higher oil - S&P | Reuters

Gulf 2021 deficits to fall to $80 bln on higher oil - S&P | Reuters Budget deficits of the six Gulf Cooperation Council countries are expected to drop sharply this year, supported by higher oil prices, fiscal consolidation and a rebound in economic output as coronavirus measures are eased, S&P Global Ratings said.The aggregate deficits of the central governments of the GCC are expected at about $80 billion this year from $143 billion in 2020, S&P said in a report on Wednesday."Nevertheless, st...
Tags: Travel, Saudi Arabia, Opec, GCC, Oman, Bahrain, Kuwait, Gulf, Reuters, Gulf Cooperation Council, Reuters Budget, Rupert Neil Bumfrey, Many Gulf


Indian refiners set to curb spot buying to make room for Iranian oil | Reuters

Indian refiners set to curb spot buying to make room for Iranian oil | Reuters Indian refiners, anticipating a lifting of U.S. sanctions, plan to make space for the resumption of Iranian imports by reducing spot crude oil purchases in the second half of the year, company officials told Reuters.The world's third largest oil consumer and importer halted imports from Tehran in 2019 after former U.S. President Donald Trump withdrew from a 2015 accord and re-imposed sanctions on the OPEC producer o...
Tags: Travel, Opec, Joe Biden, Iran, Tehran, Donald Trump, Reuters, Rupert Neil Bumfrey


Oil drops on India's COVID-19 crisis, pipeline resumption | Reuters

Oil drops on India's COVID-19 crisis, pipeline resumption | Reuters Oil prices fell more than 2% on Thursday as India's coronavirus crisis deepened and a key U.S. pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand later in the year.Brent crude was down $1.65, or 2.3%, at $67.67 a barrel by 0948 GMT, after rising 1% on Wednesday. West Texas Intermediate (WTI) was down $1.66 cents, or 2.5%, to $64.42...
Tags: Travel, India, Opec, IEA, Reuters, Reuters Oil, Rupert Neil Bumfrey


Oil drops as India's COVID crisis puts brakes on rally | Reuters

Oil drops as India's COVID crisis puts brakes on rally | Reuters Oil prices fell 1% on Thursday as India's coronavirus crisis deepened, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand.Brent crude was down 74 cents, or 1.1%, at $68.58 a barrel by 0655 GMT, after rising 1% on Wednesday. West Texas Intermediate (WTI) was down 75 cents, or 1.1%, to $65.33 a barrel, having risen 1.2% in the previous session."The path for crude p...
Tags: Travel, India, Opec, Iran, IEA, Reuters, Reuters Oil, International Energy Agency IEA, Rupert Neil Bumfrey, OANDA, Edward Moya



Filters
show more filters
April - 2021
MoTuWeThFrSaSu
   1234
567891011
12131415161718
19202122232425
2627282930  
May - 2021
MoTuWeThFrSaSu
     12
3456789
10111213141516
17181920212223
24252627282930
31      
June - 2021
MoTuWeThFrSaSu
 123456
78910111213
14151617181920
21222324252627
282930