Global oil benchmark Brent crude fell $1 a barrel after weaker-than-expected factory activity data out of China and on concerns that the world’s top crude importer’s widening COVID-19 curbs will curtail demand
Spain’s Repsol said that higher oil and gas prices had caused its adjusted net profit to double to 1.48 billion euros in the third quarter compared to the same period in 2021, prompting an increase in the dividend and more share buybacks
Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis,” the head of the International Energy Agency (IEA) said
New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers, whose plans to cut output have irked consumer countries
OPEC+ member states lined up to endorse the steep cut to its output target agreed this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing some other nations into supporting the move
OPEC cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year’s figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and high inflation
U.S. oil demand and production is expected to grow more slowly than previously forecast for the remainder of this year and in 2023, the U.S. Energy Department said
OPEC+ agreed steep oil production cuts, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted
OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness
U.S. crude and fuels stocks posted surprising declines in the most recent week as fuel demand rose and refiners cut runs, the Energy Information Administration said
