By Florence Tan and Sudarshan Varadhan SINGAPORE (Reuters) -Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening ...
By Florence Tan SINGAPORE - Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and onaFrite Restaurant's Fight for Survival: little Halifax versus Halifax's little Toronto | SaltWireSINGAPORE -Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand...
"China's stimulus policy, resilient U.S. economic data, and OPEC+’s ongoing output cuts are the bullish factors that support the oil market's upside movement," CMC Markets analyst Tina Teng said, referring to a reserve ratio cut by China's central bank last week to boost liquidity and support its economy.
Brent and WTI have climbed for three consecutive weeks to touch their highest levels since November and are on track for their biggest quarterly increase since Russia's invasion of Ukraine in the first quarter of 2022. Saudi Arabia and Russia extended supply cuts to the end of the year as part of the OPEC+ group's plans, and as Chinese refineries ramped up output, driven by strong export margins.
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Oil inches higher on supply concerns, China demand recoveryOil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer. Brent crude futures rose 5 cents, or 0.1%, to $93.98 a barrel by 0027 GMT while U.S. West Texas Intermediate crude was at $90.92 a barrel, up 15 cents, or 0.2%. 'China's stimulus policy, resilient U.S. economic data, and OPEC+’s ongoing output cuts are the bullish factors that support the oil market's upside movement,' CMC Markets analyst Tina Teng said, referring to a reserve ratio cut by China's central bank last week to boost liquidity and support its economy.
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Oil inches higher on supply concerns, China demand recoveryBy Florence Tan SINGAPORE (Reuters) - Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after ...
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California sues oil giants for downplaying risks posed by fossil fuelsThe lawsuit, which also targets BP and ConocoPhillips, alleges the energy giants' actions have caused tens of billions of dollars in damage and accuses them of deceiving the public, the report said, citing a filing in a superior court in San Francisco. The American Petroleum Institute, an industry trade group, has also been listed as a defendant in the case, the report said, adding that California has sought the creation of an abatement fund to pay for future damages caused by climate related disasters in the state.
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California sues oil giants for downplaying risks posed by fossil fuels(Reuters) - The state of California has sued major oil companies including Exxon Mobil Corp, Shell PLC, and Chevron Corp, accusing them of playing down ...
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BP CEO Search Is Big Oil’s Best Chance to Fix Its Gender ProblemTitans of the oil and gas world like Exxon Mobil Corp., Chevron Corp., Shell Plc, and BP Plc have successfully adapted to countless societal changes over the last century — war, nationalizations, even the climate movement. But a major hurdle remains: Big oil has yet to appoint its first-ever female chief executive — something BP could soon change.
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