OPEC delegates expect to stick to plan for modest output hike

(Bloomberg) --OPEC and its allies are expected by delegates to stick to their plan and ratify another modest production increase next week as they try to satisfy rebounding oil demand. The 23-nation coalition led by Saudi Arabia and Russia will probably rubber-stamp a hike of 400,000 barrels a day for March, officials from about half of the grou...

Oil markets run out of sellers in race to $90 per barrel

SINGAORE (Bloomberg) --The oil market is running out of sellers in its surge to almost $90 a barrel. Whether it’s speculators, traders hedging their barrels in storage tanks or U.S. producers, some of the biggest drivers of bearish price movements have all retreated in recent months. As global stockpiles fall to seven-year lows, traders don...