Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies
The US Energy Information Administration announced that it raised the forecast for 2021 world oil demand growth by 180,000 barrels per day (bpd) to 5.5 million bpd
Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate
Activity and spending in U.S. oil fields is soaring this year as the industry recovers from last year’s pandemic-driven oil price crash, according to cautiously optimistic energy company executives polled by the Federal Reserve Bank of Dallas in a survey
US refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels
Oil prices rose on a weaker dollar as fears of rising US inflation eased while a steep fall in US fuel stocks meant a crude glut would be short-lived as refiners restart in Texas after last month’s freeze
Oil prices climbed above $70 a barrel for the first time since the start of the coronavirus crisis, after the US Senate passed a $1.9 trillion economic stimulus package and a Yemeni group attacked Saudi Arabia’s oil industry
Exxon Mobil Corp is lowering its ambitions for oil and gas output, as it focuses on cutting costs and preserving dividends to win back investors that have soured on the company after years of overspending
Oil prices rose, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support
Oil prices rose more than $1, supported by optimism over COVID-19 vaccinations, a U.S. stimulus package and growing factory activity in Europe despite restrictions imposed to curb the coronavirus
