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Oil Prices

Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices edge higher as OPEC hints at deeper output cuts

Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Oil benchmark lowered over expected crude glut – minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.

Oil prices fall as trade talks between US and China dim

Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over a U.S.-Sino thaw that helped to lift crude markets by 2 per cent at the end of last week.

Oil prices down as US-China trade deal has no outcome

Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over a U.S.-Sino thaw that helped to lift crude markets by 2 per cent at the end of last week.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil rises on hopes for deeper OPEC output cuts, US-China trade talks

Oil prices climbed early on Friday, building on gains in the previous session, after producer club OPEC hinted at making deeper cuts in supply while optimism was revived over talks between the U. S. and China to end their trade war.

Oil prices fall as hopes of US-China progress wilt

Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, are not expected to help end the trade war between them.

Oil falls a third day as US-China trade tensions may limit demand

Oil prices slipped for a third consecutive session on Wednesday as tensions escalated between the United States and China prior to this week’s trade talks, raising uncertainties for global economic growth and oil demand.
A pedestrian walks past a stock indicator board for the Tokyo Stock Exchange being displayed in a window of a securities company in Tokyo on October 1, 2018. - Japanese shares powered to a new 27-year high on October 1 after the US and Canada clinched a long-awaited trade deal, but other Asian equity markets struggled in subdued holiday trading. (Photo by Martin BUREAU / AFP)

China joins Asian shares in cautious advance ahead of trade talks

Asian shares inched up on Tuesday, with Chinese shares making decent gains after a week-long holiday, though investors remained cautious over U.S.-China trade talks after President Donald Trump said a quick deal was unlikely.

Oil prices dip as gloom gathers over global economy

Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the US-China trade war.

Oil slips as focus shifts from Saudi supply to global demand concerns

Oil prices eased on Tuesday as weak manufacturing data from Europe and Japan focused market attention on the gloomy outlook for demand and away from uncertainty around supply disruptions in Saudi Arabia.
Smoke billowing after a fire at a Saudi Aramco factory in Abqaiq, Saudi Arabia, on Saturday. VIDEOS OBTAINED BY REUTERS-REUTERS

Drone attack halves Saudi Arabia crude output

Oil prices may go up as much as $100 after half of Saudi Arabia’s oil production went offline following a surprise drone strike by Houthi fighters.

Oil prices fall as market eyes trade war

Oil prices fell on Tuesday as the ongoing U.S.-China trade war cast a pall over markets, with soft South Korean data adding to concerns over emerging markets and a rise in the Organisation of Petroleum Exporting Countries (OPEC) output.

Brent crude price crosses $60 mark

Oil prices on Friday clawed back the previous day’s losses, with Brent nudging above $60 a barrel, as tighter supplies from key producers offset slowing demand growth and investors await clues on the U.S. Federal Reserve’s monetary policy.

Oil slumps on weak economic data

Oil prices slumped on Wednesday on weak economic data from China and Europe and a rise in United States (U.S.) crude inventories, almost erasing the previous session’s sharp gains after the U.S. said it would delay tariffs on some Chinese products.

Oil prices fall on weak economic data from Europe, China

Oil prices fell on Wednesday on weak economic data from China and Europe and a rise in U.S. crude inventories, almost erasing the previous session’s sharp gains after the U.S. said it would delay tariffs on some Chinese products.

Oil rebounds on U.S-Chinese trade dispute

Oil prices rallied on Tuesday following reports that the U.S has decided to delay the next round of tariffs that were to be imposed on Chinese goods.

Oil prices fall as trade war concerns mount

Oil prices fell on Monday on global growth concerns after U.S. President Donald Trump threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.

Oil rises for 5th session as stockpiles fall and market awaits Fed

Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago.

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