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2021-07-19

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2021-07-19

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Oil Declines After OPEC+ Agrees to Boost Production Into 2022

2021-07-19

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Oil falls more than 1% after OPEC+ agrees to boost supply

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07:57","market":"fut","language":"en","title":"Oil Declines After OPEC+ Agrees to Boost Production Into 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=1152607295","media":"Bloomberg","summary":"Oil eased after OPEC+ agreed to boost production into 2022, resolving an internal dispute that had s","content":"<p>Oil eased after OPEC+ agreed to boost production into 2022, resolving an internal dispute that had shaken the alliance.</p>\n<p>Brent crude declined 0.5% after losing 2.6% last week, while West Texas Intermediate slipped. The Organization of Petroleum Exporting Countries and its allies will add 400,000 barrels a day each month from August until all its halted output has been revived. The deal also gives Saudi Arabia, the UAE, Iraq, Kuwait and Russia higher baselines against which their output cuts are measured from May 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/7394be4ad69336abd65ce1eeb7716ede\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The complex pact, announced at the weekend after a spat between Saudi Arabia and the United Arab Emirates, gives traders a better view of how quickly the cartel will restore the 5.8 million barrels a day it’s still withholding, since making deep cuts last year in the initial stages of the pandemic. It also resolves longstanding grievances that tested the unity of the alliance.</p>\n<p>After soaring 45% in the first half, Brent hit a turbulent patch this month. Thebitter wrangleat OPEC+ spurred confusion among investors about the group’s plans for output just as the spread of the delta variant sowed concern about the potential impact of fresh outbreaks on demand. Still, with stockpiles being drawn down, market watchers including theInternational Energy Agencyhave said that additional barrels were needed to plug a projected shortfall.</p>\n<p>While the OPEC+ agreement spans more than a year and covers millions of barrels of production, it remains a flexible arrangement. The alliance will continue to holdtalks every month, including a review of the market in December. It could adjust the schedule if required, according to Saudi Energy Minister Prince Abdulaziz bin Salman. The next gathering will be Sept. 1.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <th>PRICES:</th>\n  </tr>\n  <tr>\n   <td>\n    <ul>\n     <li>Brent for September settlement was 0.5% lower at $73.25 a barrel on the ICE Futures Europe exchange at 6:53 a.m. in Singapore.</li>\n     <li>WTI for August delivery fell 0.3% to $71.57 a barrel on the New York Mercantile Exchange.</li>\n    </ul></td>\n  </tr>\n </tbody>\n</table>\n<p>Brent’s prompt time spread was little changed at 63 cents a barrel in backwardation, a bullish pattern with near-dated prices trading above those further out. That’s down from 74 cents a week ago.</p>\n<p>The more infectious delta variant is still on the ascendant, especially among the unvaccinated, with some countries reimposing curbs. In Asia, Indonesia, Thailand, South Korea, Vietnam and Singapore are all dealing with outbreaks. Elsewhere, the U.K. on Saturday reported the most cases since January.</p>\n<p>Oil traders will also be on alert in the coming days for Iran’s first crude export from outside the Persian Gulf and beyond the Strait of Hormuz. TheIslamic Republicplans to ship a cargo of crude from Jask in the Gulf of Oman, according to Vahid Maleki, director of the Jask Oil Terminal.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Declines After OPEC+ Agrees to Boost Production Into 2022</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Declines After OPEC+ Agrees to Boost Production Into 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-19 07:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-18/oil-declines-after-opec-agrees-to-boost-production-into-2022><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oil eased after OPEC+ agreed to boost production into 2022, resolving an internal dispute that had shaken the alliance.\nBrent crude declined 0.5% after losing 2.6% last week, while West Texas ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-18/oil-declines-after-opec-agrees-to-boost-production-into-2022\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-18/oil-declines-after-opec-agrees-to-boost-production-into-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152607295","content_text":"Oil eased after OPEC+ agreed to boost production into 2022, resolving an internal dispute that had shaken the alliance.\nBrent crude declined 0.5% after losing 2.6% last week, while West Texas Intermediate slipped. The Organization of Petroleum Exporting Countries and its allies will add 400,000 barrels a day each month from August until all its halted output has been revived. The deal also gives Saudi Arabia, the UAE, Iraq, Kuwait and Russia higher baselines against which their output cuts are measured from May 2022.\n\nThe complex pact, announced at the weekend after a spat between Saudi Arabia and the United Arab Emirates, gives traders a better view of how quickly the cartel will restore the 5.8 million barrels a day it’s still withholding, since making deep cuts last year in the initial stages of the pandemic. It also resolves longstanding grievances that tested the unity of the alliance.\nAfter soaring 45% in the first half, Brent hit a turbulent patch this month. Thebitter wrangleat OPEC+ spurred confusion among investors about the group’s plans for output just as the spread of the delta variant sowed concern about the potential impact of fresh outbreaks on demand. Still, with stockpiles being drawn down, market watchers including theInternational Energy Agencyhave said that additional barrels were needed to plug a projected shortfall.\nWhile the OPEC+ agreement spans more than a year and covers millions of barrels of production, it remains a flexible arrangement. The alliance will continue to holdtalks every month, including a review of the market in December. It could adjust the schedule if required, according to Saudi Energy Minister Prince Abdulaziz bin Salman. The next gathering will be Sept. 1.\n\n\n\n\nPRICES:\n\n\n\n\nBrent for September settlement was 0.5% lower at $73.25 a barrel on the ICE Futures Europe exchange at 6:53 a.m. in Singapore.\nWTI for August delivery fell 0.3% to $71.57 a barrel on the New York Mercantile Exchange.\n\n\n\n\nBrent’s prompt time spread was little changed at 63 cents a barrel in backwardation, a bullish pattern with near-dated prices trading above those further out. That’s down from 74 cents a week ago.\nThe more infectious delta variant is still on the ascendant, especially among the unvaccinated, with some countries reimposing curbs. In Asia, Indonesia, Thailand, South Korea, Vietnam and Singapore are all dealing with outbreaks. Elsewhere, the U.K. on Saturday reported the most cases since January.\nOil traders will also be on alert in the coming days for Iran’s first crude export from outside the Persian Gulf and beyond the Strait of Hormuz. TheIslamic Republicplans to ship a cargo of crude from Jask in the Gulf of Oman, according to Vahid Maleki, director of the Jask Oil Terminal.","news_type":1},"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173686158,"gmtCreate":1626657530074,"gmtModify":1633925205026,"author":{"id":"4089504838616710","authorId":"4089504838616710","name":"waichan","avatar":"https://static.tigerbbs.com/eb7e2f756d35625291df02bd1ec25290","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089504838616710","authorIdStr":"4089504838616710"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/173686158","repostId":"1141120788","repostType":4,"repost":{"id":"1141120788","kind":"news","pubTimestamp":1626656914,"share":"https://www.laohu8.com/m/news/1141120788?lang=&edition=full","pubTime":"2021-07-19 09:08","market":"fut","language":"en","title":"Oil falls more than 1% after OPEC+ agrees to boost supply","url":"https://stock-news.laohu8.com/highlight/detail?id=1141120788","media":"Reuters","summary":"TOKYO (Reuters) - Oil prices fell more than 1% on Monday, hit by an agreement over the weekend withi","content":"<p>TOKYO (Reuters) - Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).</p>\n<p>Brent crude was down $1, or 1.4%, at $72.59 a barrel by 0037 GMT, after falling nearly 3% last week. U.S. oil was down 94 cents, or 1.3%, at $70.87 a barrel, having declined almost 4% last week.</p>\n<p>OPEC+ ministers agreed on Sunday to increase oil supply from August to dampen prices that earlier this month climbed to the highest in around two and a half years as the global economy recovers from the COVID-19 pandemic.</p>\n<p>The group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia, together known as OPEC+, agreed new production shares from May 2022.</p>\n<p>\"This agreement should give market participants comfort that the group is not headed for a messy breakup and will not be opening up the production floodgates anytime soon,\" RBC Capital Markets said in a note.</p>\n<p>OPEC+ agreed new production quotas for other members from May 2022, including the UAE, Saudi Arabia, Russia, Kuwait and Iraq.</p>\n<p>The group last year cut output by a record 10 million barrels per day (bpd) amid an evaporation in demand the pandemic developed, prompting a collapse in prices with U.S. oil at one point falling in negative territory.</p>\n<p>It has gradually brought back some supply, leaving it with a reduction of around 5.8 million bpd.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil falls more than 1% after OPEC+ agrees to boost supply</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil falls more than 1% after OPEC+ agrees to boost supply\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-19 09:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oil-falls-more-1-opec-010449756.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TOKYO (Reuters) - Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oil-falls-more-1-opec-010449756.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://finance.yahoo.com/news/oil-falls-more-1-opec-010449756.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141120788","content_text":"TOKYO (Reuters) - Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).\nBrent crude was down $1, or 1.4%, at $72.59 a barrel by 0037 GMT, after falling nearly 3% last week. U.S. oil was down 94 cents, or 1.3%, at $70.87 a barrel, having declined almost 4% last week.\nOPEC+ ministers agreed on Sunday to increase oil supply from August to dampen prices that earlier this month climbed to the highest in around two and a half years as the global economy recovers from the COVID-19 pandemic.\nThe group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia, together known as OPEC+, agreed new production shares from May 2022.\n\"This agreement should give market participants comfort that the group is not headed for a messy breakup and will not be opening up the production floodgates anytime soon,\" RBC Capital Markets said in a note.\nOPEC+ agreed new production quotas for other members from May 2022, including the UAE, Saudi Arabia, Russia, Kuwait and Iraq.\nThe group last year cut output by a record 10 million barrels per day (bpd) amid an evaporation in demand the pandemic developed, prompting a collapse in prices with U.S. oil at one point falling in negative territory.\nIt has gradually brought back some supply, leaving it with a reduction of around 5.8 million bpd.","news_type":1},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":173686158,"gmtCreate":1626657530074,"gmtModify":1633925205026,"author":{"id":"4089504838616710","authorId":"4089504838616710","name":"waichan","avatar":"https://static.tigerbbs.com/eb7e2f756d35625291df02bd1ec25290","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089504838616710","authorIdStr":"4089504838616710"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/173686158","repostId":"1141120788","repostType":4,"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173660501,"gmtCreate":1626657819803,"gmtModify":1633925200864,"author":{"id":"4089504838616710","authorId":"4089504838616710","name":"waichan","avatar":"https://static.tigerbbs.com/eb7e2f756d35625291df02bd1ec25290","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089504838616710","authorIdStr":"4089504838616710"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173660501","repostId":"2152687407","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173687236,"gmtCreate":1626657752925,"gmtModify":1633925201807,"author":{"id":"4089504838616710","authorId":"4089504838616710","name":"waichan","avatar":"https://static.tigerbbs.com/eb7e2f756d35625291df02bd1ec25290","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089504838616710","authorIdStr":"4089504838616710"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173687236","repostId":"1152607295","repostType":4,"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}