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Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. ... OPEC also cut its 2025 demand outlook for oil by 40,000 barrels per day to 1.7 ...
The oil market is headed into a troubled year in 2025, and crude prices may fall "much, much" lower, according to Tom Kloza, global head of energy analysis at Oil Price Information Service. The ...
NEW YORK (Reuters) -Oil prices climbed about 2% on Friday to settle at a three-week high, on expectations that additional sanctions on Russia and Iran could tighten supplies and that lower ...
The second full week of 2025 was the fourth week that the price of oil increased, with Brent finishing up 1.3 percent at $80.79 and WTI up 1.7 percent to $77.88. Sanctions on Russia were the most important factor. The Gaza ceasefire made further Houthi attacks on shipping less likely.
This follows an average retail drop of about $0.20 per gallon from 2023 to 2024, thanks to lower crude oil prices and narrower refinery margins.. Despite a continued downward trend, however, the ...
According to a Dallas Fed survey, US oil company chiefs plan to increase spending in 2025. 58% of shale execs said they would increase spending, and 34% said they would increase investment.
In essence, the kingdom is giving in to lower prices, FT sources said. Markets spiraled on the news, dropping over 3%. Brent crude, the international benchmark, fell as low as $70.7 as of 11:00 am ET.
The ongoing oil selloff is probably not happy news for OPEC+, which announced on Sunday that it would continue to cut supplies by 2 million barrels a day to firm up prices.