Page 2 - Opec Oil Cuts

Global stock markets advance after strong US hiring, OPEC oil cuts

Global stock markets advanced on Thursday after strong US hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC group of oil exporters agreed to output cuts to shore up prices. London, Frankfurt and Tokyo gained. Hong Kong declined. Mainland Chinese markets were closed for a holiday. Oil prices rose. The euro edged higher but stayed below USD 1. Wall Street futures edged lower after US stocks fell on Wednesday following a report by payroll processor ADP that employers added 208,000 jobs in September. That showed parts of the economy are still strong, giving ammunition to Fed officials who say more rate hikes are needed to cool inflation that is at a four-decade high. The economy is too strong for the Fed to pivot. The strong start to October is over, said Edward Moya of Oanda in a report. In early trading, London's FTSE 100 was up less than 0.1 per cent at 7,059.11. The DAX in Frankfurt gained 0.7 per cent to 12,610.37 and the CAC 40 i

Oil set for weekly gain as dollar weakens, OPEC+ considers output cut

Brent crude futures for November, which expire on Friday, rose by 95 cents, or 1.07%, to $89.44 a barrel by 0948 GMT. The more active December contract was up 81 cents at $87.99

Oil prices stabilise as soaring dollar offset by US output outages

Brent crude futures were up 5 cents, or 0.06%, at $86.32 per barrel by 0937 GMT, while U.S. West Texas Intermediate crude futures were down 9 cents, or 0.1%, at $78.41 per barrel

Road ahead for investors amid OPEC output cut, European energy crisis

The European countries are bracing for a winter sans gas as supplies remain disrupted from Russia. And oil prices are above $95 per barrel on the supply cut decision by OPEC+. What next for investors?

OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

OPEC-plus agrees to make token supply cut for Oct to steady oil market

The group will reduce production by 100,000 barrels a day next month, taking supplies back to August levels, it said in a statement

Oil prices rise after Saudi warns OPEC could cut output to correct drop

Brent crude futures rose 32 cents to $96.80 a barrel by 0004 GMT, after a choppy session on Monday when they dropped by more than $4 before paring losses to trade near flat

With oil market tight and price surge, OPEC+ decides how much more to pump

OPEC and allied countries are deciding whether to stay with their plans to gradually restoring production that was cut back during the pandemic recession or to pump more oil

OPEC, allies agree to keep oil production cuts unchanged, prices jump

Under the deal, non-OPEC countries Russia and Kazakstand can make small production increases

OPEC+ compliance with oil production cuts at 99% in December, says report

The figure is slightly below November's 101 percent

OPEC+ resumes debate after talks stumble over February oil output

An internal OPEC document, suggested a 0.5 million bpd cut in February as part of several scenarios considered for 2021

Oil prices touch multi-month highs as OPEC+ expected to hold output

Oil prices touched multi-month highs on expectations that OPEC and allied producers may cap output at current levels in February as the pandemic keeps worries about first-half demand elevated

OPEC+ talks delayed as UAE, Saudi Arabia flight over oil production

At stake is the credibility of the cartel whose actions have underpinned the market since the spectacular oil crash earlier this year

OPEC reaches consensus to extend oil cuts by three months, says Algeria

"There is consensus at the OPEC level ... on extending the current 7.7 million barrels per day (bpd) cuts until ... the end of March," Attar said, according to Algeria's state news agency

Saudi calls on OPEC+ to be flexible as it weighs oil cut extension

The JMMC, which can recommend policy to the broader group, made no formal recommendations on Tuesday, three OPEC+ sources said

OPEC+ compliance with oil production cuts in October seen at 101%

OPEC+ is due to meet next on Nov. 30 and Dec. 1, following a high-level ministerial meeting on Tuesday

OPEC+ will ensure oil prices do not plunge again: Mohammad Barkindo

"We have to be realistic that this recovery is not picking up pace at the rate that we expected earlier in the year," he said. "Demand itself is still looking anaemic."

OPEC+ calls for compliance with oil cuts, Saudi says not an act of charity

OPEC and its allies, led by Russia, pressed for better compliance with oil output cuts on Thursday against the backdrop of falling crude prices as uncertainty reigns over the global economic outlook

Oil prices head for second weekly gain amid hopes for fuel demand recovery

Brent crude was up 14 cents, or 0.3%, at $45.10, heading for a gain of about 1.6% this week

OPEC trims oil demand in 2020; recovery doubtful in 2021 on Covid-19

World oil demand will fall by 9.06 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report