China, OPEC cool on U.S. bid to tame oil prices

A U.S. bid to tame oil prices with a coordinated release of oil reserves has drawn a non-committal response from China as focus shifts to OPEC+ response, leaving markets unconvinced about Washington’s plan.

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Oil workers slam Biden for raising US gas prices, calling on OPEC

Liberty Oilfield Services CEO Chris Wright and third-generation oil and gas worker Brian Linn discuss Biden’s appeal to OPEC and his decisions surrounding the oil and gas industry.

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U.S. urges OPEC and its allies to pump more oil

U.S. President Joe Biden’s top aides are pressuring OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to global economic recovery.

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Oil under pressure after OPEC agrees output boost

Oil prices fell sharply after the OPEC+ group of producers overcame internal divisions and agreed to boost output.

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Week ahead: Jobs, OPEC+, credit reports under scrutiny

Key events in the coming week include Friday’s U.S. jobs report, Thursday’s OPEC+ meeting, and a congressional hearing on credit reports slated for Tuesday. Here’s the Reuters Business Calendar for the week of June 28.

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OPEC+ sticks to plan to ease supply cuts to July

OPEC+ oil producers agreed to stick to the existing pace of gradually easing of supply curbs through July, as they sought to balance expectations of a recovery in demand against a possible increase in Iranian supply

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OPEC raises oil demand growth forecast for this year

Oil prices have been supported in recent months by expectations of an economic recovery as the world emerges from the COVID-19 pandemic. OPEC has raised its forecast of global demand growth this year in its latest monthly report. World consumption is likely to average about 96.5 million barrels a day, up almost 7 per cent from 2020. John Driscoll from JTD Energy Services shared his thoughts on the latest figures.

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