News Snapshot:
Oil advanced at the week’s open after Saudi Arabia said it would make an extra 1 million barrel-a-day supply cut in July, taking its production to the lowest level for several years following a slide in prices. West Texas Intermediate jumped almost 5 per cent early in the session before paring gains to trade below $US73 a barrel, while global benchmark Brent changed hands at about $US77. Saudi Energy Minister Prince Abdulaziz bin Salman said he would “do whatever is necessary to bring stability to this market” following a tense OPEC+ meeting over the weekend. “The voluntary cut, in my...
News Timeline:
Track the development of related news across the Internet.
June 5, 2023
19:33
Saudi Arabia could deepen production cuts beyond 1 million barrels per day if Brent futures drop below $70/barrel: analyst
Source: ca.finance.yahoo.com
June 5, 2023
17:07
Brent crude price rises after Saudi Arabia agrees to cut oil output
Source: theguardian.com
June 2, 2023
23:39
Uncertainty surrounds likelihood of production agreement at Sunday’s OPEC+ meeting
Source: upi.com
June 1, 2023
19:21
OPEC+ unlikely to deepen oil supply cuts at June 4 meeting, sources say
Source: theglobeandmail.com
May 31, 2023
21:03
Analysts expect economic fears to cap oil prices below $90 a barrel through 2023, poll shows
Source: theglobeandmail.com
