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Industry News from Energy Services

  • November 30th, 2023

Oil steady; market eyes OPEC+ meet, weak demand indicators

Oil was little changed on Thursday as investors remained cautious ahead of expected production cuts by the OPEC+ group, and as weaker-than-expected Chinese factory data underscored slowing growth in the world’s second largest economy. ›

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  • November 29th, 2023

Oil slightly higher as OPEC+ awaited, Black Sea storm disrupts supply

Oil edged higher on Wednesday as investors turned cautious ahead of a crucial OPEC+ meeting to decide output policy in the coming months, while a supply disruption caused by a storm in the Black Sea provided a lift for prices. ›

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  • November 28th, 2023

Oil rises on weak dollar, OPEC+ output cut expectations

Oil prices rose on Tuesday, supported by a weak dollar and expectations that the OPEC+ producer group would deepen and extend output cuts due to concerns over subdued demand. ›

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  • November 27th, 2023

Brent slips toward $80/bbl ahead of OPEC+ meeting

Oil prices slipped on Monday, with Brent falling toward $80 a barrel, as investors awaited the OPEC+ meeting later this week for an agreement to curb supplies into 2024. ›

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  • November 24th, 2023

Brent recovers ahead of OPEC+ oil production decision

Brent crude futures edged up on Friday, partially reversing losses from the previous session as traders speculated on whether the OPEC+ producer group would come to an agreement on further supply cuts. ›

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  • November 23rd, 2023

Oil slips 1% on growing angst over delayed OPEC+ meeting

Oil prices dipped roughly 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a meeting, triggering speculation that the group may not deepen output cuts next year due to dissenting African members. ›

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  • November 22nd, 2023

European Power Prices Fall to Two-Year Low as Crisis Eases

Benchmark electricity prices in Europe have fallen to levels last seen two years ago in a positive sign for the continent’s economy as its gas and nuclear crises ease. ›

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  • November 22nd, 2023

Oil prices steady in pre-Thanksgiving trade ahead of OPEC+ cuts

Oil prices stayed within a narrow range on Wednesday in quiet pre-U.S. Thanksgiving holiday trading, as the market awaited news on output cuts from the OPEC+ producers group and looked for confirmation of a sharp build-up in U.S. crude stocks. ›

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  • November 21st, 2023

Europe Gas Fluctuates as Cold Snap Spreads From Berlin to London

European natural gas futures fluctuated as forecasts for colder weather signaled a potential jump in heating demand. ›

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  • November 21st, 2023

Oil retreats on caution ahead of OPEC+ meeting

Oil futures fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth. ›

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