Business > World

Oil prices surge as OPEC maintains production cut targets and China's thawing Covid-zero stance sparks hope of demand recovery

1 month ago   |   By Business Insider

OPEC said after its November meeting it's keeping its oil policy unchanged from October. Vladimir Simieck/AFP/Getty Images
Crude oil futures jumped on Monday after OPEC said its oil policy will remain unchanged from October.
The group has been cutting oil output by 2 million barrels a day due to "market considerations."
Prices were also boosted by hopes that China's eyeing an exit from its Covid-zero stance.
Oil futures jumped Monday, thanks to good news on the demand and supply side: OPEC will be sticking to its production cut target and China is softening its Covid-zero stance, which has...
Read more ...

 


Search by Tags

   World      Market      Markets      Energy      Politics      International      News      MI Exclusive      Oil      Russia      Price cap      European Union      G7      China      COVID-19      Pandemic      Reopening      OPEC      Opec production  


January's ‘eye-popping' jobs report is going to make the Fed's inflation...

“Unless this labor market strength turns out to be a one-month blip...the Fed is likely to dig in and keep rates higher for longer," BMO Wealth Management's chief investment... Read more ...

The Best Banks of 2023

Insider's experts choose the best products and services to help make smart decisions with your money. In some cases, we receive a commission from our partners , however, our... Read more ...

New AI tool lets you replace pictures of your ex with images of red flags...

A new AI tool lets you swap out images of your ex with red flags and snakes. Picsart Picsart debuted a new AI tool that allows user to replace photos of their ex. The tool can... Read more ...

An unexpected job surge confounds the Fed's economic models

Does the Federal Reserve have it wrong Read more ...

Middle Class Tax Refund: What is Money Network and why did California hire...

Middle Class Tax Refund: What is Money Network and why did California hire them for debit cards?

California's Middle Class Tax Refund was supposed to bring some relief to families trying to fill up their gas tank and put food on the table. Read more ...

Eagles Super Bowl run helps boost sales for small Northeast Philly business

Jay Pross owns Art History 101 in Mayfair, where customers in person and online have been snapping up Eagles gear ahead of the team's appearance in Super Bowl LVII. Read more ...

Women On Banknotes Remain Rare

The late Queen Elizabeth II will disappear from banknotes in Australia and potentially elsewhere. As women on banknotes are rare, her phase-out could acerbate this situation... Read more ...

Elon Musk Announces Ad Revenue Sharing For Creators On Twitter

Twitter will begin to share ad revenue with users, according to a tweet from CEO Elon Musk on Friday morning. Read more ...

Beyoncé fans are gearing up to buy tickets to her world tour whether...

Tickets to Beyoncé's Renaissance Tour will soon be up for grabs, putting Ticketmaster to test after its fiasco with Taylor Swift's tour tickets last year. Read more ...

Meet the typical Amazon customer, a college-educated married woman in the...

FILE ght out of 10 US shoppers are Amazon customers, Numerator data show. Reuters Amazon has 1,285 facilities in the US and employs more than 1.5 million people around the... Read more ...