Oil prices fall in early Asian trade, paring gains from the previous session. Fears of global recession weighed on the market even as supply remains tight. OPEC output is a long way off the pledged increase of about 275,000 BPD. Libya faces further supply disruption due to political unrest. Oil prices fell in early Asian … Read more
OPEC on Thursday cut its world oil demand forecast for the last quarter of 2021 due to high energy prices, although the group stuck to its prediction of robust growth to above pre-pandemic rates in 2022. The Organization of the Petroleum Exporting Countries (Opec) said in a monthly report it expects oil demand to average … Read more
Oil Prices in international market has jumped more than $1 a barrel after major producers agreed to put biggest ever output cut. Media reports said The Organization of the Petroleum Exporting Countries (OPEC) and its allies finally agreed their biggest-ever output cut that spiked prices of oil one dollar per barrel. The oil producers has … Read more
