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The Latest Breaking News from OPEC

Crude Gains on the Outlook for Tighter Global Oil Supplies

May WTI crude oil (CLK23 ) this morning is up +0.66 (+0.80%), and May RBOB gasoline (RBJ23 ) is down -0.55 (-0.19%). May Nymex natural gas (NGK23 ) is up +0.052 (+2.59%). Crude oil and gasoline prices this morning are mixed. Crude has support on today's projection from the International...

Barchart

Measures sought to rein in airfares

The Airlines Association of Thailand (AAT) is urging the government to lower the fuel tax and operational fees at airports amid concerns over a potential increase in oil prices following the announcement by Opec+ that the group would reduce its output, saying the lower cost burden would eventually help to…

Bangkok Post

Why Gas Prices May Rise This Spring

Gas prices are being hit by several factors causing them to tick up this spring.

Kiplinger

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Crude Prices Slip on Concern the U.S. Economy is Slowing

May WTI crude oil (CLK23 ) this morning is down -0.22 (-0.26%), and May RBOB gasoline (RBJ23 ) is down -2.17 (-0.76%). May Nymex natural gas (NGK23 ) is down -0.057 (-2.72%). Crude oil and gasoline prices this morning are moderately lower. Crude prices are under pressure after today's larger-than-expected...

Barchart

Oil Edges Down on US Recession Risk

Oil prices slipped on Thursday as the prospect of a possible recession in the United States, the world's largest oil consumer, offset concerns of tight supply. Brent crude fell 55 cents, or 0.63%, to $86.78 a barrel by 1352 GMT.

Asharq Al-Awsat

2 of the Best Energy ETFs to Buy This Week

Amid soaring demand for oil and gas, oil prices appear to be on a positive trajectory. Against this backdrop, strong fundamentals of energy ETFs, Energy Select Sector SPDR ETF (XLE) and Fidelity MSCI Energy Index ETF (FENY), might make them wise portfolio additions this week. Read on….

StockNews.com

Q1 2023 and Beyond- Energy

The energy sector of the commodities market includes crude oil, gasoline, heating oil, natural gas, and ethanol contracts that trade on the CME’s NYMEX division. The energy sector led the way on the downside in Q1 2023 with gains in gasoline and ethanol and significant declines in the crude oil,…

Barchart

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US official: Top Biden aide holds call with MBS on Yemen war

White House national security adviser Jake Sullivan spoke by phone with Saudi Arabian Crown Prince Mohammed bin Salman on Tuesday amid signs that the Saudis and Iran-allied Houthis in Yemen are making “significant progress” toward finding a permanent end to their nine-year conflict

The Independent UK

Saudi Arabia to Supply Full Crude Contract Volumes to Asia

Several informed sources said that the giant Saudi Aramco plans to supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, Reuters reported. This comes after the Organization of the Petroleum Exporting Countries (OPEC) and the…

Asharq Al-Awsat

'Downside risks' for Asean+3

Soaring energy prices and a stalling US economy have emerged as potential downside risks that could dampen growth in Asean+3 economies, according to the Singapore-based Asean+3 Macroeconomic Research Office (Amro).

Bangkok Post

Crude Mildly Lower on Dollar Strength and Macroeconomic Concerns

May WTI crude oil (CLK23 ) this morning is down -0.29 (-0.36%), and May RBOB gasoline (RBJ23 ) is down -0.27 (-0.10%). May Nymex natural gas (NGK23 ) is up +0.154 (+7.66%). Crude oil and gasoline prices this morning are modestly lower. A stronger dollar today is weighing on energy...

Barchart

As Demand for This Industry Surges, This Stock Is Lagging Behind

While the energy sector has been sailing smoothly, junior oil and gas company Reconnaissance Energy (RECAF) has been struggling with declining revenue and profitability. The stock has plummeted more than 20% over the past month. Hence, it could be best avoided. Read more.

StockNews.com

Kuwait names another new government — the fourth in 8 months

Kuwait named the prime minister’s fourth government in eight months, as the oil-rich OPEC member faces little let-up from political uncertainty and economic malaise.

Tribune News Service

Opec seeks stability via 'quake'

Opec+ defends its surprise supply cut as being aimed at oil market "stability." One can only imagine the glum faces as they realised they had instead teed-up an 8% price spike. Oh well, at least the extra money will offer some small consolation.

Bangkok Post

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Bangkok Post

Asian markets rally amid thin Easter weekend trade

RECAP: Most Asian markets rallied yesterday after a sell-off the previous day in reaction to more evidence of a US economic slowdown. Trade was thin as many Western markets observed the Good Friday holiday.

Bangkok Post

Airfares could spike after Opec cut

Airlines are expecting higher airfares than usual during the upcoming low season as oil cartel Opec and its allies announced production cuts.

Barchart

Crude Finishes Slightly Higher on Tight Global Supplies

May WTI crude oil (CLK23 ) on Thursday closed up +0.09 (+0.11%), and May RBOB gasoline (RBJ23 ) closed down -0.68 (-0.24%). Crude oil and gasoline prices Thursday settled mixed. A weaker dollar Thursday and the outlook for tighter global oil supplies gave crude prices a boost. However, gains were...

Barchart

Why Are Rising Energy Prices Bullish for Corn?

The U.S. is the world’s leading corn producer and exporter. Corn prices declined from the March 2022 high but remained elevated in early April 2023 at the beginning of the 2023 crop year in the northern hemisphere. Corn is food and fuel, and rising oil and gasoline prices put upward…

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StockNews.com

No.1 Stock to Buy in This A-Rated Industry

High demand, supply cuts, and the reopening of the Chinese economy is expected to boost the energy sector’s growth this year. Industry tailwinds are favoring Parex Resources (PARXF), helping it surge over the past few months. It is currently trading above its 50-day and 200-day moving averages. Hence, this top…

Zenger

Wall Street Analysts Raise Their Oil Price Forecasts After Shocking Supply Cuts By OPEC+

Analysts on Wall Street are becoming far more bullish on oil prices, after OPEC+ announced voluntary output cuts totaling 1

The New Daily

Easter bowser squeeze looms, but there’s a way around it

Australian motorists are being advised to fill-up their tanks outside major capitals as petrol prices rise ahead of the Easter long weekend.

Barchart

Crude Prices Supported by the Outlook for Tighter Global Supplies

May WTI crude oil (CLK23 ) on Tuesday closed up +0.29 (+0.36%), and May RBOB gasoline (RBJ23 ) closed down -2.04 (-0.74%). Crude oil and gasoline prices Tuesday settled mixed with crude posting a 2-1/4 month high. Crude prices have carryover support from Sunday when OPEC+ unexpectedly announced a -1.0...

Barchart

Surprise Oil Cuts Undergird Unusual Options Volume for Vaalco Energy (EGY)

Hydrocarbon specialist Vaalco Energy represents an under-the-radar opportunity, especially as surprise oil production cuts bolster EGY stock.

Asharq Al-Awsat

Voluntary Oil Production Cut: Decision to Balance Demand, Production Levels

Oil and economic experts confirmed that the voluntary oil production cuts taken by oil-exporting countries within OPEC+, starting May and continuing until the end of 2023, aim to achieve market balance. Mubarak Alhajeri, a faculty member at Kuwait's College of Technological Studies, explained that the cut had shocked global markets…

Barchart

Should You Buy Oil Stocks Now? How to Profit From the OPEC+ Production Cut

OPEC+ announced they would cut oil output by 1.16 million bpd. Here's how to potentially profit from it.

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