Traders predict oil prices of $60 per barrel as global oversupply takes it toll
Oil prices are expected to fall to between $60 and $70 per barrel (bbl) as a result of continuing oversupply,…
oil prices
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Global oil markets likely to face large supply deficits soon, says report
A global oil market supply deficit is likely to appear as 2024 progresses, and continue into 2025, despite possible production…
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Big Oil shares sink while Chevron prepares for Noble Energy takeover
Noble Energy will today approve a buyout by US oil giant Chevron, at a stock value of $4.2bn. This comes…
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What is oil contract trading, and could prices go negative again?
The Mechanics of Oil Contract Trading Prices Go Negative On 20 April 2020, the May contract for West Texas Intermediate…
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Oil price rises with output cuts in response to Covid-19 demand
Oil prices have gained into Thursday, with signs producers are curbing production. Fuel demand has collapsed as the coronavirus pandemic…
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Oil prices plunge to 20-year low as coronavirus hits demand
Oil prices have fallen to their lowest level since 1999, as the coronavirus pandemic has left the market with tiny…
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US crude oil futures break rock bottom, close down nearly $40
US crude oil traded at historic lows as markets closed on Monday. Oil prices fell below $0 a barrel, turning…
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Oil price sinks with Covid-19 demand as US storage facilities fill
Oil prices fell on Monday due to concerns US storage facilities would soon be filled. The Covid-19 pandemic has crushed…
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Oil prices stabilise after steep losses due to rise in US stocks
Oil prices seemed to have stabilised on Thursday after incurring major losses in the previous session, followiung a record increase…
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Oil prices fall $28 per barrel due to oversupply worries
Oil prices have fallen by 5% to around $28 a barrel on Wednesday. Reports have suggested persistent oversupply and collapsing…
