Crude Oil Jan 24 (CLF24.NYM)
| Pre. Settlement | N/A |
| Settlement date | 2023-12-19 |
| Open | 70.00 |
| Bid | 69.74 |
| Last price | 69.19 |
| Day's range | 70.00 - 70.00 |
| Volume | |
| Ask | 70.83 |
- Bloomberg
Oil Jumps as OPEC+ Mulls Biggest Production Cut Since Pandemic
(Bloomberg) -- Oil surged to trade near $82 a barrel on indications the OPEC+ alliance is considering slashing production by more than 1 million barrels a day to revive plunging prices when it meets this week.A reduction of that magnitude would be the biggest since the pandemic, although OPEC+ delegates said a final decision on the size of the cuts won’t be made until ministers gather in Vienna on Wednesday. West Texas Intermediate jumped around 3%, putting prices on track for the first gain in
- Oilprice.com
The Biggest Argument For Peak Oil
When BP claimed that the world has seen peak oil demand during the covid pandemic, it was proven wrong, but advancements in ICE engines have certainly brought peak oil demand closer
- Financial Times
Opec+ plans substantial oil production cut to prop up prices
The Opec+ oil alliance is planning a substantial cut in production to prop up falling prices, according to people close to the discussions, as the group prepares to meet in person for the first time since March 2020. The oil group, which is led by Saudi Arabia and Russia, is expected to discuss a production cut that could total more than 1mn barrels a day at the meeting on Wednesday. The move threatens to boost oil prices at a time much of the world is fighting to bring down energy costs and could create a potential rupture with the US, where President Joe Biden has been trying to lower fuel prices for motorists ahead of crucial midterm elections next month.
