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Search ResultsShowing 1 - 10 of 91 results for "OPEC"
BetaShares rejigs oil ETF...again
KANIKA SOOD  |  WEDNESDAY, 5 AUG 2020
... production cuts of 10% from May 1 to normalise oil prices. In July, Gulf countries that had restricted supply on top of OPEC+ agreed cuts wound them back. On April 29, BetaShares said the ETF would go from tracking one-month WTI crude futures to three-month ...
Oil to make strong recovery: State Street
ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
... negative last month, the oil market appears much calmer as the June contract approaches," Jones said. "Supply has been cut by OPEC+ since April and US oil production has fallen. As oil demand starts to recover, there are signs of a quick and strong demand ...
Chief economist update: Easing restrictions narrow oil demand-supply equation
BENJAMIN ONG  |  MONDAY, 18 MAY 2020
... plummeted to a 34-year low of US$9.12/barrel. Sinking oil prices came despite the belated agreement (around mid-April) by OPEC plus to chop 9.7 million barrels per day - equivalent to 10% of global supply - in May and June. But with planes, trains and ...
Aussie ETF investors got oil bets wrong before crash
KANIKA SOOD  |  THURSDAY, 23 APR 2020
... (second to a shorting ETF), as investors put in net $35 million, likely expecting oil prices to stabilise after the recent OPEC deal to cut down production by 30% in the wake of an oversupply. On Monday, May WTI futures contracts slipped into negative ...
The domino effect: Oil falls, markets follow
ALLY SELBY  |  TUESDAY, 21 APR 2020
... into a tailspin." He argued prices would unlikely increase until virus cases slowed. "The 'supply shock' from the OPEC+ collapse in March was really a mirage, the demand shock from COVID-19 is overwhelming everything," Winans said. "Ultimately ...
Oil tanks
BENJAMIN ONG  |  TUESDAY, 21 APR 2020
... take delivery on at some point during May". Sinking oil prices came despite the belated agreement (around mid-April) by OPEC plus to chop 9.7 million barrels per day - equivalent to 10% of global supply - in May and June. Not enough to arrest the slide ...
Chief economist update: Oil gush
BENJAMIN ONG  |  FRIDAY, 3 APR 2020
... by 23.7% to US$34.54 following unexpected news that, instead of agreeing to cut oil production at their March 6 meeting, "OPEC+" talks collapsed due to Russia's dissent and Saudi Arabia announcing an increase in production in production and offering ...
Global stocks plunge as COVID-19 fear accelerates, oil crashes
ALLY SELBY  |  TUESDAY, 10 MAR 2020
... trading is halted for the rest of the day. Oil markets are crashing at their worst rate since the Gulf War of 1991, after the OPEC cartel failed to agree on supply cuts aimed to address a slump in global demand caused by the COVID-19 outbreak. Russia ...
Chief economist update: The crash we have to have
BENJAMIN ONG  |  TUESDAY, 10 MAR 2020
... by 23.7% to US$34.54 following unexpected news that, instead of agreeing to cut oil production at their March 6 meeting, OPEC+ talks collapsed (due to Russia's dissent) and Saudi Arabia announcing an increase in production and offering discounts ...
Chief economist update: Coronavirus infects oil market
BENJAMIN ONG  |  TUESDAY, 4 FEB 2020
... on 6 December 2019, the Organisation of Petroleum Exporting Countries, Russia and other oil-producing nations - termed "OPEC+" - reduced production by around 500 kb/d (kilo barrels per day) to 2.1 mb/d, starting 1 January 2020. Then the coronavirus struck ...
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