Oil hits 3-week highs as OPEC+ agrees deep cuts and US inventories fall

OPEC+ met on Wednesday and cut production despite tight supply U.S. crude and fuel stocks fell last week – EIA Price around $90 vs $120 in July US opposed to OPEC cuts wants lower prices NEW YORK, Oct 5 (Reuters) – Oil prices rose to three-week highs on Wednesday as OPEC+ agreed to its biggest … Read more

Los Angeles County average gas price hits record high of $6.46

LOS ANGELES (KABC) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose seven-tenths of a cent to a record high of $6,466 on Monday, topping the previous high of $6,462 set on June 14. The average price has risen for 31 straight days, rising $1.22, including 1 cent … Read more

Oil rebounds 3% as OPEC+ weighs biggest production cut since 2020

OPEC+ eyes cut of more than 1 million bpd – sources China issues largest quota of petroleum products this year SINGAPORE, Oct 3 (Reuters) – Oil prices jumped more than 3% at the start of Asian trading on Monday as OPEC+ plans to cut production by more than a million barrels a day for its … Read more

Oil prices rise on surprise drop in US crude and fuel inventories

NEW YORK, Sept 28 (Reuters) – Oil prices rose on Wednesday on unexpected declines in U.S. crude and fuel inventories, offsetting downward pressure from the continued strength of the U.S. dollar. Brent crude futures were up $2.33, or 2.7%, at $88.60 a barrel as of 11:05 a.m. EST (1505 GMT). U.S. West Texas Intermediate (WTI) … Read more

Oil prices drop to 9-month lows as dollar strengthens

The pattern of oil barrels is seen in front of the rising stock market chart in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Oil prices hit their lowest level in nine months in choppy trade on Monday, under pressure from a strengthening … Read more