crude

Drop in output from Iran and Venezuela limits losses

Brent crude oil futures heading for 1.9% weekly gain and US WTI for 2.3% weekly gain

Russian comments signaling willingness to pump more dampen the rally

Russia says OPEC and allies should raise output from June

Surprise increase in American inventories, however, caps gains

OPEC-led production cut lends support to prices

US inventories rose last week by 2.8 million barrels

Brent crude has traded in a narrow range of $64 to $69 a barrel throughout March

Expectations of a further drop in US inventories support prices

Concerns about potential US recession emerge after remarks by Federal Reserve

Prices, however, find support from OPEC-led supply cuts, US sanctions

Crude prices have risen by almost a third since the start of 2019 due to OPEC-led supply cuts

OPEC scrapped its planned meeting in April, effectively extending supply cuts

Saudi energy minister says April would be too early for any decision on output policy

Market torn between high US oil output and OPEC+ compliance with production cuts

OPEC may extend production cuts as demand is expected to go down this year

Export of crude from Venezuela goes down due to massive power outage

Market takes a hit from remarks European economy is in a period of continued weakness

Record US crude output, rising stocks and falling demand growth estimates cap gains

Rise in North American production undermines OPEC-led supply cuts

El Sharara oilfield had been closed since December last year

US, China appear close to a deal that will roll back US tariffs on $200b worth of Chinese goods

Fall comes in wake of higher US supplies, global slowdown concerns

Expectations of swift resolution to US-China trade dispute dashed

Expectations US crude stocks have risen for sixth straight week limit the rally

Record US exports, anxiety over poor economic data worldwide may curb gains

OPEC cut output by almost 800,000 bpd in January to 30.81m bpd

OPEC-led supply cuts, US sanctions against Venezuela lend some support

Earlier, oil price came under pressure following weekly data showing rise in US stocks

Trading proceeds at lower volumes in parts of East Asia due to Lunar New Year holiday

US crude production has undermined sentiment in market

Global oil markets are still well supplied thanks in part to a spike in US output

Rise in US crude inventories eclipses possible US sanctions on Venezuelan oil sector

Prices have also been supported by OPEC-led production cuts

Price goes up after output cut, easing fears of weak demand growth

Rate slashed to $11.038 per unit for SNGPL and $11.3726 for SSGC

Trump blames the OPEC for high crude prices and calls on it to boost output to bring down fuel costs

Libyan oil production fell to 527,000 bpd from a high of 1.28 million bpd in February following the port closures