Crude Oil Surges After OPEC Confirms Delay of Supply Restart

FXStreetNov 4 06:40 ET

WTI Moves Above $70.00 After OPEC+ Delay in Output Increase, Eyes on US Election

FXStreetNov 3 22:31 ET

Crude oil prices are in a slump, OPEC+ once again delays the resumption of crude oil supply.

OPEC+ has agreed to delay the December production increase plan by one month, due to fragile economic outlook and ongoing struggles in oil prices, marking the organization's second postponement of supply restoration plans.

Zhitong FinanceNov 3 19:50 ET

OPEC+ Extends Oil Production Cuts Until the End of December

FXStreetNov 3 19:31 ET

The outlook for oil prices is not good! On the eve of OPEC's production increase, usa oil giants are aggressively expanding production.

In the latest quarter, exxon mobil's oil & gas production increased by 24% year-on-year, chevron's production grew by 7%, while royal dutch shell and united kingdom BP increased by 4% and 2% respectively. According to Macquarie, if OPEC resumes production and with additional supply from Brazil and other places, the price of Brent crude oil may fall below $70.

wallstreetcnNov 1 22:34 ET

Hong Kong stocks fluctuate | Petroleum stocks rose in early trading, geopolitical risks continue to disrupt the market, international oil prices rise again.

Petroleum stocks rose across the board in early trading. As of the time of publication, China Oilfield Services (02883) rose by 4.53% to 7.61 Hong Kong dollars; CNOOC (00883) rose by 1.65% to 18.48 Hong Kong dollars; PetroChina (00857) rose by 1.71% to 5.94 Hong Kong dollars; Sinopec (00386) rose by 1.14% to 4.43 Hong Kong dollars.

Zhitong FinanceOct 31 22:46 ET