output-freeze
Oil falls as glut, profit-taking beat back optimism over OPEC meet
August 9, 2016 by publisher · Leave a Comment
By Osamu Tsukimori TOKYO (Reuters) – Crude prices fell on Tuesday as continued worries over a global oil glut and profit-taking on gains of nearly 3 percent from the previous session beat down upwards momentum from a possible meeting of oil producers. Venezuelan Oil Minister Eulogio del Pino said on Monday that a meeting between OPEC and non-OPEC countries may take place “in the coming weeks” as the crisis-stricken South American nation sought support to prop up weak oil markets. Some OPEC officials have said a …
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Oil falls as glut, profit-taking beat back optimism over OPEC meet
output-freeze
Crude prices fall from 2016 highs as U.S. oil rig count rises
March 20, 2016 by admin · Leave a Comment
Crude oil prices settled lower on Friday after the U.S rig count rose for the first time since December, renewing worries of a supply glut after an output freeze proposal helped boost the market to 2016 highs and multi-week gains. U.S. energy firms this week added one oil rig after 12 weeks of cuts, according to data by industry…
Original post:
Crude prices fall from 2016 highs as U.S. oil rig count rises