• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Oil prices retreat on mixed messages from OPEC+

2 years ago
in Business, Energy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
53
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Oil prices retreat on mixed messages from OPEC+

Crude oil began trade on Friday with a slight decline as traders weighted mixed messages from the two biggest members of OPEC+.

Earlier in the week, prices jumped following comments made by the Saudi Energy Minister that suggested the group may announce further production cuts at its next meeting in early June.

“Speculators, like in any market they are there to stay, I keep advising them that they will be ouching, they did ouch in April, I don’t have to show my cards I’m not a poker player… but I would just tell them watch out,” Abdulaziz bin Salman said on Tuesday.

Two days later, however, his Russian counterpart within the OPEC+ context, Deputy Prime Minister Alexander Novak, came out with a different message.

Speaking to Russian media, Novak said he did not expect any change in policies at the next OPEC+ meeting, noting that U.S. debt ceiling uncertainties and a slower-than-expected recovery in demand from China were pressuring prices.

Still, Novak said, he expected Brent crude to rebound above $80 per barrel by the end of the year.

RelatedPosts

Bank of Ghana Prices 1oz Gold Coin at GHS 49,131.99

Ghana Hosts IGAD Delegation on Land Governance Exchange

First National Bank Champions Health, Unity, and National Pride With the 2025 Accra Marathon

Oil prices have shed some 10% since the start of the year, with the decline being mainly attributed to the slower-than-expected post-pandemic recovery of China.

Some upward pressure for prices at the end of the week could come from the news that President Biden and House Speaker McCarthy are nearing a deal on the debt ceiling, which would enable the federal government to avoid imminent debt default.

According to an unnamed official who spoke to Reuters, the deal would raise the ceiling for two years and put caps on most government spending—something that Republicans have insisted on while Democrats wanted a higher debt ceiling with no conditions.

Thanks to that upward pressure, both Brent crude and West Texas Intermediate could end this week’s trade with gains, albeit quite modest ones.

No Result
View All Result

Highlights

U.S. Government Shutdown Leaves Energy Markets on Edge

Gold Miners Stage Comeback as Share Sales Surge to Record High

NorvanReports at 5: The Rise of a Fearless Voice in Ghana’s Economic Storytelling

Sylvia Owusu-Ankomah Appointed CEO of The Ghana Chamber of Telecommunications & The Digital Chamber of Ghana

ICUMS Set to Complete Major Upgrade to Enhance System Performance

IMF Staff Mission Reaches Staff-Level Agreement with Côte d’Ivoire on EFF/ECF and RSF Programmes

Trending

Features

Bank of Ghana Prices 1oz Gold Coin at GHS 49,131.99

October 1, 2025

Bank of Ghana Prices 1oz Gold Coin at GHS 49,131.99 The Bank of Ghana has priced its...

Ghana Hosts IGAD Delegation on Land Governance Exchange

October 1, 2025

First National Bank Champions Health, Unity, and National Pride With the 2025 Accra Marathon

October 1, 2025

U.S. Government Shutdown Leaves Energy Markets on Edge

October 1, 2025

Gold Miners Stage Comeback as Share Sales Surge to Record High

October 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.