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Some small U.S. shale producers are putting the brakes on oil drilling as crude prices sink to multi-year lows and steep tariffs drive construction costs higher.
Crude oil prices are set for a weekly loss due to rumors of increased OPEC+ supply and renewed hopes for peace in Ukraine, despite slight gains in Brent and West Texas Intermediate benchmarks.
Oil prices edged higher on Friday but were on track for a weekly loss as a potential OPEC+ output increase and a possible ceasefire in the Russia-Ukraine war may raise supply at the same time ...
Motorists will need to tighten their belts once more, as fuel prices are projected to increase by a peso next week.
Oil prices edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ output increase, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war.