oil-and-gas
Top StoriesOpec+ Agrees Tiny Output Rise in Setback for Biden
InvestingOil Falls 4%, Pressured by Surprise U.S. Crude, Gasoline Build
InvestingOil Rises as Opec+ Meeting Eyed, Global Demand Concerns Weigh
Top StoriesG7 Mulls Options to Restrict Russian Oil Profits
Oil Slips as Global Demand Concerns Weigh, Opec+ Meeting Eyed
Date: August 2, 2022
By Alex Lawler LONDON (Reuters) -Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply. Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum...
Bp to Boost Spending on Oil and Gas by $500 Million, CEO Says
Date: August 2, 2022
LONDON (Reuters) – BP is increasing its spending on oil and gas by $500 million in response to soaring energy prices and tightening supplies, Chief Executive Officer Bernard Looney told Reuters on Tuesday. The extra spending will go primarily to BP’s onshore natural gas production in the Hayensville basin and offshore production in the Gulf...
FTSE 100 Closes Down as Oil Stocks Drop and Sterling Gains
Date: August 1, 2022
By Sruthi Shankar (Reuters) -A slump in oil stocks and rally in sterling weighed on Britain’s top share index on Monday, as investors looked ahead to the Bank of England’s next move on interest rates amid a weakening global economic outlook. As sterling hit a one-month high, the FTSE 100, packed with multinational companies that...
Oil Sinks After Weak Factory Data Sparks Demand Concerns
Date: August 1, 2022
By Stephanie Kelly NEW YORK (Reuters) -Oil prices dropped sharply on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply. Brent crude futures fell $3.56, or 3.4%, to $100.41 a barrel by 11:14 a.m. EDT (1514...
Oil Outshines Stocks and Dollar in 2022
Date: August 1, 2022
By Ahmad Ghaddar LONDON (Reuters) – Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market. The two major crude futures contractsare up about 30% so far this...
Oil Tumbles After Weak Factory Data Sparks Demand Concerns
Date: August 1, 2022
By Ahmad Ghaddar LONDON (Reuters) – Oil prices dropped sharply on Monday as weak manufacturing data from China and Europe weighed on the demand outlook while investors braced for this week’s meeting of officials from OPEC and other top crude producers on supply. Brent crude futures were down $3.77, or 3.6%, at $100.20 a barrel...