Similar Stories to The Recent Drop In Oil Prices May Be Just A Correction on Bing News

Andrew Burton/Getty Images The oil price drop this week could just be a correction. Added supply from several oil producers is "welcome" news to the IEA. A supply outage had driven prices up. Supply risks are ever-present in the minds of oil investors right now. The oil market is “stretched to the limit” despite the fact that OPEC+ agreed to ramp up production following their meeting last month, according to the International Energy Agency. The IEA said that the increased supply from Saudi Arabia, its Gulf allies and Russia is “very welcome,” given the series of outages reported around the world.See the rest of the story at Business InsiderNOW WATCH: Here's why the US Men's team sucks at soccerSee Also:US oil sanctions could cause oil to surge by $50 a barrelOil could surge to $250 a barrel if Iran follows through with its threat to close a key choke point, analyst saysGOLDMAN SACHS: The trade war won't stop oil prices from risingSEE ALSO: Citi profit rises 16% in second quarter

BING NEWS:
  • Oil prices drop after Gaza cease-fire agreement, increased OPEC production data
    Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al-Thani confirms cease-fire agreement during press conference in Doha, which is set to take effect on Sunday - Anadolu Ajansı ...
    01/15/2025 - 7:33 pm | View Link
  • Oil prices hover near 5-month highs on heightened supply concerns
    Crude oil prices continued to rally on Thursday as a drop in US stockpiles and softer inflation buoyed sentiments in the market. Concerns over Russian supply disruptions due torecent US sanctions also ...
    01/15/2025 - 5:48 pm | View Link
  • Oil Prices Soar on US Inventory Drop
    In the previous session, Brent oil futures increased 2.6% to its highest level since July 26 and then climbed 0.4%, to $82.33 a barrel.
    01/15/2025 - 3:33 pm | View Link
  • Oil prices end higher as traders weigh demand prospects, supply risks
    Oil futures settled higher Wednesday, finding support after snapping a three-day winning streak that had been driven in part by wider U.S. sanctions on Russia as well as cold weather in much of the U.
    01/15/2025 - 7:49 am | View Link
  • Gas prices will fall in the next 2 years as global oil supply outpaces demand, EIA says
    US drivers could see lower gas prices this year and next as oil supply outpaces demand. The US will continue to ramp up output from record levels, the EIA said.
    01/15/2025 - 2:31 am | View Link
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