OPEC

Oil creeps back up after three days of losses

by
Oil creeps back up after three days of losses

Oil prices increased on Thursday despite the US Federal Reserve considering further tightening of interest rates due to persistent inflation. Brent crude futures rose by 0.6% to .41 a barrel, while US West Texas Intermediate crude futures also increased by 0.7% to .08. The Federal Reserve discussed the possibility of raising interest rates to combat inflation, which could impact oil demand. Additionally, US crude stocks rose by 1.8 million barrels last week, and global crude markets have been affected by soft refinery demand and ample supply. Russia exceeded its OPEC+ production quota in April and will present a plan to compensate for the error. OPEC+ will meet on June 1 to decide on production cut levels, with expectations of a rollover of current voluntary cuts.

Trump’s Corporate Tax Cuts Paved the Way for Inflation

by
Trump’s Corporate Tax Cuts Paved the Way for Inflation

Key provisions of President Trump’s 2017 tax breaks to the wealthy and corporations are set to expire next year, providing an opportunity to recoup money lost to corporate price gouging.

Inflation eating up your paycheck? Blame Trump’s corporate tax cuts

by
Inflation eating up your paycheck? Blame Trump’s corporate tax cuts

Key provisions of President Trump’s 2017 tax breaks to the wealthy and corporations are set to expire next year, providing an opportunity to recoup money lost to corporate price gouging.

How Trump’s Corporate Tax Cuts Paved the Way for Inflation

by
How Trump's Corporate Tax Cuts Paved the Way for Inflation

Key provisions of President Trump’s 2017 tax breaks to the wealthy and corporations are set to expire next year, providing an opportunity to recoup money lost to corporate price gouging.

BoE in focus, gold and oil struggle

by
BoE in focus, gold and oil struggle

European markets and US futures are trading higher as investors await two important events that will shape trading activity for the rest of the month. The Dow Jones chart shows bulls taking control, while Airbnb’s weak guidance indicates a potential slowdown in economic activity. The Bank of England is under pressure to lower interest rates, and US unemployment claims data could impact the market. Gold prices are influenced by the dollar index and Fed’s monetary policy, while the OPEC cartel’s meeting on June 1 will be crucial for oil prices.

WTI ends losing streak after Saudi oil price hike

by
WTI ends losing streak after Saudi oil price hike

The West Texas Intermediate (WTI) crude oil price rose to around .20 a barrel in the Asian session on Monday after Saudi Arabia raised June crude prices for most regions.

Oil prices under pressure due to slower economies

by
Oil prices under pressure due to slower economies

Oil prices are trading down due to disappointing economic data and a rise in US crude oil inventories.

Saudi Arabia, ’s Q1 GDP falls 1.8 per cent as oil sector weighs

by
Saudi Arabia, ’s Q1 GDP falls 1.8 per cent as oil sector weighs

Saudi Arabia’s real gross domestic product (GDP) decreased 1.8 per cent year-on-year in the first quarter due to a decline in oil activities.

Oil ends week in negative territory, despite tensions

by
Oil ends week in negative territory, despite tensions

Fact: Despite escalating geopolitical tensions between Israel and Iran, oil prices closed the week lower and are still below recent highs.

US is reimposing oil sanctions on Venezuela, officials say

by
US is reimposing oil sanctions on Venezuela, officials say

The U.S. will not renew a license that eased Venezuela oil sanctions, imposing punitive measures due to President Nicolas Maduro’s failure to meet election commitments.