Business Featured Oil & Gas

OPEC+ leaning towards oil cut extension, despite rally: sources

Reading Time: 2 minutes OPEC and allies including Russia are leaning towards delaying next year’s planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, three sources close to OPEC+ said. OPEC+ was due to raise output by 2 million barrels per day (bpd) in Read More…

Business Featured Oil & Gas

Oil prices slip on potential return of Libyan output; Gulf storm supports

Reading Time: 2 minutes Oil prices fell on Monday on the potential return of output from Libya as rising coronavirus cases also added to worries about global demand, although a tropical storm heading for the U.S. Gulf of Mexico limited losses. Brent crude was down 33 cents or 0.8 per cent at $42.82 a barrel by 0645 GMT, while Read More…