Oil posted a weekly decline as demand concerns continue to dominate market sentiment even after Saudi Arabia's unilateral pledge to cut production.
West Texas Intermediate settled near $70 a barrel, closing out the week lower than where it last stood before Saudi Arabia's surprise weekend announcement. The commodity clocked a 2% weekly decline even with the wild gyrations set off by duelling international headlines. Riyadh's surprise decision to cut output by about 1 million barrels caused a ....

12 Jun 2023
Cenkos: Oil & Gas Sector -- Getech Group, IOG, i3 Energy, Savannah Energy, Jersey Oil & Gas, Jadestone Energy, Challenger Energy Group, Zephyr Energy, Hurricane Energy, PetroTal, Barryroe Offshore Energy
Falcon Oil & Gas Ltd. (FOG:LON), 6.8 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 13.8 | Diversified Energy Company PLC (DEC:LON), 1,323 | Empyrean Energy PLC (EME:LON), 0.7 | GETECH Group plc (GTC:LON), 5.8 | Longboat Energy Plc (LBE:LON), 18.1 | Trinity Exploration & Production Plc (TRIN:LON), 47.5 | Wentworth Resources PLC (WEN:LON), 30.5

Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Cenkos: Oil & Gas Sector -- Getech Group, IOG, i3 Energy, Savannah Energy, Jersey Oil & Gas, Jadestone Energy, Challenger Energy Group, Zephyr Energy, Hurricane Energy, PetroTal, Barryroe Offshore Energy
Falcon Oil & Gas Ltd. (FOG:LON), 6.8 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 13.8 | Diversified Energy Company PLC (DEC:LON), 1,323 | Empyrean Energy PLC (EME:LON), 0.7 | GETECH Group plc (GTC:LON), 5.8 | Longboat Energy Plc (LBE:LON), 18.1 | Trinity Exploration & Production Plc (TRIN:LON), 47.5 | Wentworth Resources PLC (WEN:LON), 30.5
- Published:
12 Jun 2023 -
Author:
James McCormack -
Pages:
7 -
Oil posted a weekly decline as demand concerns continue to dominate market sentiment even after Saudi Arabia's unilateral pledge to cut production.
West Texas Intermediate settled near $70 a barrel, closing out the week lower than where it last stood before Saudi Arabia's surprise weekend announcement. The commodity clocked a 2% weekly decline even with the wild gyrations set off by duelling international headlines. Riyadh's surprise decision to cut output by about 1 million barrels caused a ....