Oil Set for Weekly Gains on Iran, Russia Supply Risks

Oil set for weekly gains on Iran, Russia supply risks

Oil prices rose on Friday, set for a weekly gain, on growing supply worries linked to the intensifying protests in oil-producing Iran and an escalation of attacks in Russia's war in Ukraine. Brent futures were up $1.58, or 2.55%, to $63.57 per barrel at 1741 GMT, while US WTI crude was up $1.60, or 2.77%, to $59.36. Both benchmarks climbed more than 3% on Thursday, following two straight days of declines. For the week, Brent is on track to climb…

Iran, Russia Supply Risks, Venezuela Deal Buoys Oil Prices

By Adedapo Adesanya Oil prices rose by about 2 per cent on Friday on growing supply worries linked to intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war in Ukraine. Brent futures appreciated by $1.35 or 2.18 per cent to $63.34 per barrel, while the US West Texas Intermediate (WTI) futures […]

OPEC Oil Output Falls in December After Low Supply From Iran, Venezuela

OPEC's oil output fell in December due to lower supply from Iran and Venezuela, which offset an OPEC+ agreement to raise production for the month, a Reuters survey found on Friday.The Organization of the Petroleum Exporting Countries pumped 28.40 million barrels per day last month…

OPEC oil output falls in December on Iran and Venezuela, Reuters survey finds

OPEC+ has slowed the pace of its monthly output increases