Latest news with #crude supplies
Bloomberg
04-08-2025
- Business
- Bloomberg
Shale CEO Says Oil Markets Are In for Bearish Crude-Supply Flood
The largest independent Permian Basin oil driller is warning of a bearish influx of crude supplies to global markets in coming months. In preparation, Diamondback Energy Inc. is cutting $100 million in capital spending, narrowing its output forecast and delaying some fracking work. The moves announced Monday by Chief Executive Officer Kaes Van't Hof appeared to be defensive in nature and aimed at avoiding the trap of boosting production when there's a risk of weaker prices in a well-supplied market.
Bloomberg
29-07-2025
- Business
- Bloomberg
Oil Holds Gain as Trump's Russia Deadline Raises Supply Concerns
Oil held a gain after President Donald Trump pushed for Russia to reach a swift truce with Ukraine or face potential economic penalties, raising concerns crude supplies from the OPEC+ producer could be disrupted. West Texas Intermediate was around $67 a barrel after closing 2.4% higher on Monday. Brent settled near $70. Trump said he would impose a new deadline of 10-12 days for Moscow to reach a ceasefire, warning of 'secondary sanctions,' he said on Monday. The president initially gave Russia 50 days for a truce.
