Oil prices dipped on Friday on expectations that producer club OPEC will soon ra...
SINGAPORE - Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a hardening of sanctions on Tehran by the United States.
Brent crude futures were at $74.18 per barrel at 0505 GMT, down 17 cents, or 0.2 percent, from their last close. WTI is on track for its eighth successive weekly gain, the longest weekly run since the first half of 2015. Brent is set a fifth weekly price gain, the longest stretch since April 2018. Washington said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil dips on hope OPEC will raise output, but market remains tenseOil prices dipped on Friday on hopes that producer club OPEC will soon raise out...
Read more »
Oil prices rise on decline in U.S. drilling activity, OPEC supply cutsOil prices rose early on Monday, with Brent hitting its highest level since Nove...
Read more »
Gulf OPEC members ready to raise output if there is demand: sourcesGulf OPEC producers can step in to meet any oil supply shortage following a U.S....
Read more »
Saudi plans to keep oil output within levels of OPEC cuts: FalihSaudi Arabia's Energy Minister said Wednesday that the kingdom's crude production would remain within levels outlined in OPEC-led output cuts.
Read more »
U.S. making a mistake politicizing oil: Iran oil ministerThe United States has made a bad mistake by politicizing oil and using it as a w...
Read more »
India to get extra oil from major producers to make up for Iran oil loss: ministerIndia will get additional supplies from other major oil producing countries to c...
Read more »
Oil prices jump over 2% on expectations U.S. will halt waivers on Iran oil importsTraders return from the long holiday weekend to climbing oil prices, amid reports the U.S. is getting ready to cut off waivers for countries to import oil...
Read more »
A threat in Trump’s back pocket: Shaking up the global oil industryTrump's potential support for anti-oil cartel legislation has members of OPEC holding their breath and could send oil prices into a tail spin
Read more »
If Sanctions Cut Iran's Oil Exports To Zero, Would Saudi Arabia Really Fill The Void?If Saudi Arabia commits to increase oil production for Trump's Iran sanctions policy, it could destroy the kingdom's leverage in OPEC.
Read more »