Commodities Economy News

OPEC+ agrees to increase oil production

A meeting of OPEC+ oil-producing countries, which previously failed to reach an agreement to increase oil production due to opposition by the United Arab Emirates (UAE) earlier this month, is known to have agreed to increase oil production on the 18th (local time). Oil-producing countries agreed to extend the limits on production increases in some […]
Commodities

Crude oil dips as US demand spikes

Crude oil prices dipped slightly on Thursday but preserved a majority of their gains through the session, and despite the it’s ongoing struggles with the global pandemic, the U.S. government’s own analysis suggests that demand is returning to pre-pandemic norms, even surging. Brent crude (LCOc1) was down 8 cents at $45.35 a barrel by 0150 […]