Monthly Archives: April 2023
Oil Prices Surges With OPEC+ Surprise Supply Cuts

Written on April 3, 2023 at 6:31 am, by lishitong
Oil prices surged by more than 8%, with WTI crude trading above $81 for the first time since January after an unexpected announcement from OPEC+ to cut crude supply to tighten the market. The oil allies announced cutting more than 1 million barrels of oil per day, with Saudi Arabia leading the cartel to cutContinue Reading
Crude Surges on Surprise OPEC+ Cuts

Written on April 3, 2023 at 6:07 am, by lishitong
Oil prices surged at the beginning of the week after OPEC+ unexpectedly announced crude output cuts that could tighten the market, causing inflationary concerns for the global economy. The cuts, which will exceed 1 million barrels a day, were not expected by traders who anticipated output to remain steady. Goldman Sachs raised price forecasts forContinue Reading

