Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce?

US EIA’s short-term energy outlook (STEO) report said that the Brent crude oil price in its forecast averages $69 per barrel this year, which is $3 per barrel higher than in last month’s STEO, which was released just before the conflict over Iran’s ...

Oil Prices Are Set To Rise Throughout 2023 By Irina Slav - Mar 07, 2023, 7:00 PM CST. Rising Chinese demand will be the main driver of higher crude prices this year.

Oil prices climbed over 4% on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact.

Oil Price Rise And The Impact On Inflation. This past week, the oil price rise caused by the outbreak of the Iran/Israel conflict caught investors’ attention. However, ...

Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine.

Gasoline prices are also on the rise, climbing 27% since the election, with the national average hitting $2.70 a gallon this week, according to AAA. The monster gains in the energy market are not ...

Oil prices were surging, ... In the U.S., the Biden administration is clearly concerned about the prospect that gas prices might rise even further. Under former President Donald Trump, ...

Market watchers note that a short-term retreat in prices, after such a rapid rise, is also possible. The oil price also remains below the peaks reached in 2022, when prices jumped well above $100 ...

U.S. crude oil stockpiles rose unexpectedly last week, while gasoline drew down on the back of strong driving demand ahead of the July 4 weekend.