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Australian dollar up 0.5% as oil prices fall
... end the session at 4,155, while the Dow Jones index rose 1.3 per cent to 32,813. Spot gold rose by 0.2 per cent, to US 1,763. 10 an ounce. Oil prices fell sharply, with Brent crude futures down 3.4 per cent, to US 97.10 a barrel. It came after the OPEC group of oil-producing nations, including Saudi Arabia and Russia, announced it would increase its supply by a mere 100,000 barrels per day. Oliver Pursche , senior vice president at Wealthspire Advisors in New York, said that oil is still up 25 ...
Updated: 08/03/2022
OPEC+ decision not to raise oil prices a step in right direction
... make Saudi Arabia a pariah over the kingdom's human rights record. President Biden reversed himself when confronted by economic reality. With gasoline prices near record highs and inflation fears increasing, Biden visited Saudi Arabia last month, the OPEC kingpin. Biden even fist-bumped Saudi Crown Prince Mohammed bin Salman , who US intelligence was directly linked to the murder of Washington Post journalist Jamal Khashoggi in 2018. The President left Saudi Arabia without a public agreement from ...
Updated: 08/03/2022
OPEC+++ boosts oil production despite rising prices
This Oct 9, 2018 file photo shows an oil rig and pump jack in Midland, Texas. JACOB FORD VIENNA - The Organization of the Petroleum Exporting Countries and its allies, known as OPEC, announced a slight production boost in September despite calls for faster increases to tame sky-half This Oct 9, 2018 file photo shows an oil rig and pump jack in Midland, Texas. JACOB FORD VIENNA - The Organization of the Petroleum Exporting ...
Updated: 08/03/2022
S&P 500 and Nasdaq surge as Wall Street rebounds
... June 30 to July 28 according to data from FactSet. During the past five years or 20 quarters, the average decline in the bottom-up EPS estimate during the first month of a quarter has been 1.3%. The US, and other major consumers want more supply, and OPEC and its allies have a small increase of about 100,000 barrels per day in oil production. The move is expected to have little impact on prices. Crude oil fell from its daily high in the afternoon, with WTI CL F just above $92 per barrel and Brent ...
Updated: 08/03/2022
Shell gives 82,000 staff 8% bonus after record profits
...,400 a year in October. Cornwall predicts that the cap will stay above 3,400 for the whole of 2023, adding more pressure on household finances. The price of energy has gone up due to fears over supplies caused by the war in Ukraine. The oil cartel Opec and its allies agreed on a small increase in oil output by just 100,000 barrels a day on Wednesday, dashing hopes of a larger increase, which is likely to keep oil prices elevated. Bernard Looney , BP 's chief executive, who had a total pay of 4....
Updated: 08/03/2022
OPEC+ to increase oil production in September
The OPEC oil cartel and its allies decided on Wednesday to increase production in September by a much slower pace than in previous months, at a time of high oil prices and unstable energy supplies exacerbated by the war Russia has waged on Ukraine. The ...
Updated: 08/03/2022
Opec+ allies boost oil output, critics say
The Opec cartel and its allies have agreed to increase the production of crude by 100,000 barrels a day, a move that analysts have described as an insult to the US president, Joe Biden. The Opec cartel and its allies have agreed to increase the production ...
Updated: 08/03/2022
Oil prices drop on weak China, Japan data
Oil prices fell on Monday as weak manufacturing data from China and Japan weighed on the outlook for demand while investors braced for the meeting of officials from OPEC and other top producers on supply adjustments. Oil prices fell on Monday as weak manufacturing data from China and Japan weighed on the outlook for demand while investors braced for the meeting of officials from OPEC and other top producers on ...
Updated: 08/03/2022
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