Oil Price Archives - Panorama Insurance Brokers

Oil price environment looks ‘constructive’, says Baker Hughes top executive

(S&P Global Platts) Continued signs of global economic recovery from the coronavirus pandemic should prompt further demand growth for oil and natural gas, not only for second-half 2021 but for 2022, big oil services provider Baker Hughes’ top executive said July 21. While the pandemic continues to impact the world’s geographic areas unevenly, the oil… Read More

Oil prices take biggest one-day hit since March after OPEC+ agreed to boost output

(Reuters) – Oil slumped more than $5 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand. Crude oil’s year-long surge has been sputtering for most of the last two weeks with the prospect… Read More

Oil prices slip as new poll shows COVID-19 cases rising in 69 countries

(Reuters) – Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Brent crude for September fell 73 cents, or 1%, to $74.82 a barrel by 0900 GMT while U.S. West Texas Intermediate crude for August… Read More

OPEC+ brinkmanship pushing oil prices, reminds markets of inflation pain points

(Reuters) – OPEC+ brinkmanship has taken oil prices towards $80 a barrel, the highest since 2018, threatening to upend central banks’ transitory inflation narrative as well as the post-pandemic economic recovery. Last year’s Saudi-Russian oil war showed that disputes between OPEC+ members do not always result in higher prices, but this week’s standoff within the… Read More