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LONDON: OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due to new COVID lockdowns in China.
KUALA LUMPUR: The ringgit opened lower against the US dollar on Tuesday as the greenback strengthened further following the Bank of Japan's (BOJ) decision to buy 10-year Japanese Government Bonds (JGBs) from March 29 to 31.
KUALA LUMPUR: The ringgit retreated from two consecutive days of gains to open lower against the US dollar on Wednesday, due to subdued demand as well as the rising geopolitical tensions, dealers said.
SINGAPORE: Oil steadied ahead of The Organisation of Petroleum Exporting Countries and its allies (Opec+) meeting that may endorse another modest lift in production, with traders speculating that the actual increase delivered by members may again fall short of the headline figure.
TOKYO: Oil prices rose on Wednesday towards last week's seven-year highs after data showing a fall in U.S. crude stocks underlined solid demand, but investors remained cautious ahead of an OPEC+ meeting due later in the day.
NEW YORK: Global benchmark Brent crude jumped on Tuesday to $80 a barrel, its highest since November, as OPEC+ agreed to stick with its planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand.
NEW YORK: Oil settled higher on Monday on hopes of further demand recovery in 2022, despite OPEC+ looking set to agree to another output increase and persistent concerns about how rising COVID infections might affect demand.
NEW DELHI: Oil prices firmed on Monday as the market kicked off 2022 on a positive note with suppliers in focus ahead of Tuesday's OPEC+ meeting, although surging COVID-19 cases continued to dent demand sentiment.
NEW YORK: Oil prices rose slightly on Thursday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally.