Weakening Chinese economic data raises concerns about reduced oil demand.

Truckers' are on strike over a minimum pay programme.

RON97 will cost RM4.50 per litre from Aug 4-10.

This comes after EU agrees to ban 90pct of Russian crude exports.

Geopolitical issues in Russia, UAE also adding to oil supply concerns.

RON97 petrol will drop from RM3 to RM2.99 per litre.

This is for the period of Dec 16 to Dec 22.

The price will be RM2.77 starting tomorrow until Oct 13.

The disruptions have less in common than you may think.

This is more than double the allocated amount for the year due to high global commodity prices.

Opec+ sticks to its plans for a gradual easing of oil production restrictions.

The national oil company says the revision takes into account the projected global oil prices.

New cap is 3 sen lower than ceiling price under Harapan.

Local currency inches down to 4.0300/0350 against the greenback.

The new prices per litre are RM1.80 for RON95, RM2.10 for RON97 and RM1.98 for diesel.

The new prices are RM1.67 for RON95, RM1.97 for RON97 and RM1.69 for diesel.

The new prices per litre are RM1.68 for RON95, RM1.98 for RON97 and RM1.82 for diesel.

At 9am, the local unit was traded at 4.1830/1890 against the greenback, from Wednesday’s close of 4.1900/1950.

The decline in the retail prices of petroleum products is due to changes in refined product prices.

CORONAVIRUS | Rising global and US coronavirus cases are limiting recovery in oil demand.

The increase was due to changes in prices of refined petroleum products, in line with the current trend of world crude oil prices.

It says the ringgit will average stronger in 2021 as the global economy will likely be on a stronger footing then.

This is for the period of June 27 to July 3.

The ringgit may trade at the 4.25-4.27 level next week provided there are no surprises coming from today's Opec meeting.

The market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million bpd for May and June

He says the gov't will reprioritise expenditure to meet the fall in oil revenue.

The oil market has been under pressure due to a spate of reports on weak fuel consumption.

Oil price is now below US$25 per barrel, far below US$62 estimated in Budget 2020.

This follows the lack of commitment for the US and other producers to cut output.

Bank Negara says this is based on expectations of significantly lower global oil and commodity prices.