The Organization of the Petroleum Exporting Countries said it anticipates an easing of global trade tensions in the coming weeks and kept its oil-demand forecast unchanged as it continues to ramp up output.
Crude oil retreats as Trump's 50-day sanction delay eases supply fears. WTI breaks support, risking further downside amid weak China data.
Kazakhstan's oil output in the first half of 2025 rose by around 11.6% to 49.9 million metric tons from the same period in 2024, while the country has no plans to leave the OPEC+ group of global leading oil producers, senior officials said on Tuesday.
WTI crude oil consolidates near the $66 support level, while natural gas trades within an ascending channel and maintains a bullish outlook.
Oil prices edged down on Tuesday as the market digested U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump's trade tariffs.
Shares in oil-producing companies were given a lift after crude oil prices rose on Friday, with analysts pointing to Donald Trump's comments that he plans to make a "major statement on Russia". Markets took this to imply sanctions, though the US President did not elaborate in his interview with CNBC, only to say that he would reveal all on Monday.
Brent crude stalls at $70 resistance as EMAs slope downward; traders await breakout confirmation amid fragile risk sentiment and OPEC+ speculation.
Crude oil pulled back from recent highs, testing converging support levels, with bulls and bears now eyeing a breakout or breakdown from a pivotal zone.
OPEC cut its global oil demand forecasts for the next four years on Thursday as Chinese growth slows, even as it lifted its longer-term view due to rising oil needs in the developing world and said there was no evidence demand had reached its peak.
Helima Croft from RBC Capital Markets discusses 2025 OPEC seminar's shift toward long-term transition goals, with limited focus on current oil market dynamics. While OPEC claims the market can absorb added supply, Croft highlights markets are 'amply supplied' looking into Q4.
India's Petroleum Minister tells CNBC that the country helped global oil price stability by purchasing Russian oil. CNBC's Dan Murphy and Sri Jegarajah discuss how far is India prepared to go to secure its domestic supply as the U.S. proposes sanctions on buyers of Russian oil.
India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, elaborates on the rationale for the country's decision to purchase oil from Russia. He adds that oil prices could have "gone up to $130 a barrel" if countries, including India, has stopped buying Russian oil.