Brazilian state-run oil company Petrobras is set to revise its five-year strategic plan due to lower Brent crude oil prices, Chief Executive Magda Chambriard told analysts during the firm's first-quarter earnings call on Tuesday.
Crude oil holds gains as traders eye 50-day MA; U.S.-China trade truce boosts oil demand outlook while rising OPEC output tempers bullish momentum.
Let's delve into the ETF world following the 90-day U.S.-China trade deal.
Washington and Beijing agreed over the weekend in Switzerland to slash sky high tariff rates by 115%, U.S. Treasury Secretary Scott Bessent said Monday. Oil prices had plunged the lowest level in four years earlier this month as President Donald Trump's global tariff regime raised the risk of a recession that would slow demand.
Saudi Aramco reported first-quarter profits of $26 billion, a 4.6% drop from the same period last year, as weaker oil prices weighed on earnings. The state-owned energy giant generated $108.1 billion in revenue, slightly higher than the $107.2 billion recorded in the first quarter of 2024.
Oil rose in early Asian trade amid an improved market mood after U.S. and Chinese officials concluded weekend trade talks.
Saudi Aramco's first-quarter net profit fell 5% year-on-year amid lower oil prices and production.
Oil prices are falling as the commodity gets squeezed by supply and demand woes: rising output from OPEC and soft demand from tariffs. Investors hope the big producers retrench.
The major oil producers known as OPEC+ did exactly what U.S. President Donald Trump has been asking for — and American producers may be the ones to soon pay the price.
Crude oil rises as US-China trade optimism and resilient Chinese demand support a bullish near-term oil outlook, with traders targeting $63–$64 levels.
Oil edged higher amid optimism over U.S.-China trade talks. Trump has sounded an optimistic note about U.S.-China talks scheduled for this weekend in Switzerland.
The oil markets continue to see a lot of noisy trading, as the markets are trying to determine whether or not we are going to see increased demand via trade deals, and an expansion of trade overall.