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UBS: OPEC+ is expected to extend the production reduction agreement for at least 3 months, and oil will rise to $91 in June
OPEC+ will hold its next meeting on June 1, and UBS expects that the organization will agree to extend the voluntary production reduction agreement to maintain the balance of the oil market.
Oil Set to Eke Out Weekly Gain as Supply and Inflation Set Tone
Oil headed for a modest weekly gain as futures stayed in a narrow range, with the outlook for supply and inflation in focus.
Oil Prices Pull Back as Post-CPI Relief Rally Runs Out of Steam
Oil futures edged lower Thursday, losing ground after a relief rally sparked by data showing a slowdown in key U.S. inflation data ran out of steam.
Global Oil Demand Growth Outlook Continues to Soften, IEA Says
The outlook for global oil demand growth this year continues to soften amid an economic slowdown and mild weather in Europe, the International Energy Agency said.
Oil Advances With Supply in Focus as US Stockpiles Seen Lower
Oil advanced after an industry report showed shrinking US stockpiles, and traders looked ahead to a report from the International Energy Agency that may shed light on market balances into the second half.
Oil Declines With OPEC Forecast Unchanged, as Traders Weigh the Interest-rate Outlook
Oil futures moved lower on Tuesday, giving back part of the gains seen a day earlier, as the Organization of the Petroleum Exporting Countries left its monthly forecasts largely unchanged and traders weighed the outlook for interest rates, and their potential impact on energy demand.