Crude oil prices rallied as much as 6 percent on April 3, with both West Texas Intermediate (WTI) and Brent futures soaring above $80 per barrel. Oil prices climbed in response to the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, slashing output by 1.16 million barrels per day (bpd) from May…
Markets Expecting Higher Oil Prices After Surprise OPEC Cut
Crude oil prices rallied as much as 6 percent on April 3, with both West Texas Intermediate (WTI) and Brent futures soaring above $80 per barrel. Oil prices climbed in response to the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, slashing output by 1.16 million barrels per day (bpd) from May…
Oil Prices Surge, Fed Rate Path in Question Again
April 3, 2023
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SYDNEY/LONDON—Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets and boosted the dollar due to reinvigorated fears about the stickiness of global inflation. Brent oil futures looked set for its biggest daily percentage gain in around a…
Oil Prices Soar After OPEC’s Shock Production Cut
Oil prices surged over 5 percent on Monday, notching their biggest daily jump in nearly a year after OPEC+ surprised markets on Sunday by announcing production cuts. In early trading Monday, the U.S. crude oil benchmark West Texas Intermediate (WTI) rose $4.38 to $80.03 per barrel, or 5.79 percent, according to TradingView data. Brent crude,…
OPEC+ Pledges Major Oil Output Cuts From May to Year-End
Saudi Arabia and other members of the oil-producing group OPEC+ announced Sunday that they will be cutting their output by about 1.15 million barrels per day (bpd), a move expected to cause an immediate rise in prices. According to its state news agency, Saudi Arabia will voluntarily cut its oil production by 500,000 bpd from…
OPEC+ Pledges Major Oil Output Cuts From May to Year’s End
Saudi Arabia and other members of the oil-producing group OPEC+ announced on April 2 that they will be cutting their output by about 1.15 million barrels per day (bpd), a move expected to cause an immediate rise in prices. According to its state news agency, Saudi Arabia will voluntarily cut its oil production by 500,000…
‘There Needs to Be Compromise’: Rex Lee on What Fuels Our Energy Future
In this special episode, we sat down with Rex Lee, cybersecurity adviser at My Smart Privacy, to learn more about the energy revolution. How is the Chinese regime benefiting from green energy being pushed in America? How are big oil companies rebranding themselves to get government benefits? And where does all this leave the consumer? He…
Shares and Bonds Ride High After Soothing Eurozone Data
March 31, 2023
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LONDON—Share markets pushed for a fifth straight day of gains on Friday and bonds headed for their best month since 2008, as a record monthly drop in the eurozone’s inflation rate raised investors’ expectations for similar U.S. data later in the day. With an action-packed first quarter also drawing to a close world stocks were…
Oil Dips, Set for Monthly Drop, Ahead of Key US Inflation Data
March 31, 2023
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LONDON—Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. Brent futures, which have risen nearly 5 percent this week, were down 63 cents, or 0.8 percent, at $78.64…
Farmland at Risk as Safeguard Mechanism Turbo Charges Demand for Carbon Credits
Farmers are calling on the Australian federal government to ensure that the new Safeguard Mechanism does not spark a mass-buy up of agricultural land as carbon-producing companies seek to offset their carbon emissions. National Farmers’ Federation (NFF) Chief Executive Officer Tony Mahar said that the agricultural sector was concerned about a potential land use conflict…
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