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6 hours ago · Agencies. Oil prices fell early on Monday, despite a move by producer group OPEC+ to extend deep output cuts well into 2025. Brent futures for August delivery were down 24 cents, or 0.3%, to $80.87 a barrel at 0030 GMT. U.S. West Texas Intermediate (WTI) crude futures for July delivery fell 19 cents, or 0.25%, to $76.80.
8 hours ago · Share this: WTI crude oil has softened despite OPEC+ announcing a prolonged extension of production cuts. Dips below $76.80 have been decent entry levels for bulls in 2024. An extension of deep and prolonged production cuts from OPEC has failed to ignite a rally in crude oil futures with prices sinking for a fourth consecutive session.
4 hours ago · But if China, and the rest of Asia, remains soft for crude imports, then OPEC+ has the flexibility to keep the additional restrictions in place. OPEC+ most likely wants to keep crude oil prices above $80 a barrel and more likely closer to $90, and the current Brent futures price of $80.78 is no doubt a concern.
14 hours ago · Prices tend to fall when the group decides to supply more oil to the market. The OPEC+ group is currently cutting output by 5.86 million bpd, equal to about 5.7% of global demand. The cuts include ...
7 hours ago · Production curbs will continue in full in the third quarter and then be gradually phased out over the following 12 months, the Saudi Energy Ministry said on Sunday after OPEC+ met over the weekend. Brent dropped below $81 a barrel, falling for a fourth day, and West Texas Intermediate traded near $77. The agreement aims to keep supporting oil ...
1 day ago · 0. STORY: The OPEC+ group of oil producing nations has agreed to extend its deep output cuts into 2025. Sunday’s move comes amid tepid demand, high interest rates and rising production from the ...
1 day ago · Intraday Live Chart. Historical Chart. MCX Crude Oil Intraday Live Chart. 6,400 6,420 6,440 6,460 6,480 6,500 6,520 6,540 6,560. 09:01 12:00 15:00 18:00 21:00. MCX Crude Oil. Signal - Support & Resistance. MCX Crude Oil. Moving Averages. MCX Crude Oil. Period - High, Low & Average. Mcx Crude Oil Trend for Today. Extremely Bullish. Somewhat Bullish.
