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Oil prices set to drop more as OPEC+ agrees to another sharp production hike
The largest group of oil-producing nations agreed over the weekend to sharply increase crude production for the third month in a row, a move intended to reassert control over the market by driving oil ...
Oil prices jump after OPEC+ agrees to another sharp production hike
The largest group of oil-producing nations agreed over the weekend to sharply increase crude production for the third month in a row, a move intended to reassert control over the market by driving oil ...
Oil rebounds after OPEC+ sticks to same output hike in July vs June
Oil prices rebounded more than $1 a barrel in early Asian trade on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with ...
US Futures Slip on Trump Tariffs, Crude Surges
Asian stocks are poised for a cautious open after US President Donald Trump dialed up trade tensions saying he would double tariffs on steel and aluminum imports. Oil climbed as geopolitical tensions ...
Oil Rebounds After OPEC+ Sticks to Same Output Hike in July Vs June
The Organization of the Petroleum Exporting Countries and their allies decided on Saturday to raise output by 411,000 barrels per day in July, the third straight month of increase by the same amount, ...
Oil rebounds after OPEC+ sticks to same output hike in July versus June
Oil prices rebounded more than $1 a barrel on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectations.
OPEC+'s crude output hike comes amid tepid Asian oil demand: Russell
LAUNCESTON, Australia, June 2 (Reuters) - The crude oil market devotes considerable energy to what OPEC+ says, but perhaps a little less to what it actually does when it comes to the supply of the ...
Opec+ to boost oil output for third consecutive month
Fast-tracking the return of more idled capacity could push global prices down further
Trump’s steel tariffs prompt anger and warnings of ‘catastrophic’ job cuts in Canada
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US crude oil output hit record high in March, while demand fell, says EIA
U.S. crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration (EIA) said in its Petroleum ...
Oil prices fall on possible larger OPEC+ output hike for July
Oil prices fell on Friday and headed for a second consecutive weekly loss, as investors weigh a potentially larger OPEC+ output hike for July, and uncertainty spreads around U.S. tariff policy after ...
US Posted Record Oil Output Before Price Dip Spurred Rig Retreat
US drillers pumped a record amount of oil in March, but the final number came in lower than government figures previously indicated.
NYMEX Overview: Petroleum Contracts Down, Oil Poised for Another Weekly Drop -- OPIS
Petroleum prices, however, are being helped by a weaker dollar, which remains near a 52-week low against a basket of foreign currencies on the U.S. Dollar Exchange. A weaker U.S. currency makes dollar ...
A pivotal OPEC+ decision this weekend could tank crude-oil prices by 10%
A decision by major oil producers this weekend could pull prices for crude down to their lowest levels since 2021, with demand tough to gauge against a trade-war backdrop and some countries failing to ...
Oil finishes down on possible OPEC+ output hike
U.S. crude futures fell on Friday as traders expected OPEC+ would decide on Saturday to boost oil output for July beyond previous forecasts. Brent crude futures settled down 25 cents, or 0.39%, at $63.
Hedge Funds Rush Into Oil Short Bets as OPEC Supply Risk Looms
Hedge funds loaded up on the most bearish bets against Brent crude since October as the market braced for a fresh injection of OPEC+ supply.
Trump says he will double tariffs on US steel imports to 50%
US president escalates global trade war days after a court ruled some of his levies illegal
Trump says he will double steel and aluminium tariffs to 50%
US president escalates global trade war two days after a court ruled against the legality of his levies
Oil Settles Lower Ahead of OPEC+ Output Decision
Crude futures settled lower as the market awaits the outcome of Saturday’s OPEC+ meeting where the group is expected to decide on another large unwind of voluntary output cuts for July.
OPEC+ Supply Hike of 411,000 Barrels a Day is Main Scenario
An OPEC+ supply increase of 411,000 barrels a day in July is the main scenario for talks on Saturday, delegates said.
OPEC+ Agrees on Third Oil Supply Surge to Deepen Price Slump
OPEC+ agreed to surge oil output by 411,000 barrels a day for the third month in a row, doubling down on a historic policy shift that has sent crude prices sinking.
OPEC+ Agrees on Third Oil Supply Surge Despite Russia’s Qualms
OPEC+ agreed to surge oil output for the third month in a row despite reservations from key member Russia, doubling down on a historic policy shift that has sent crude prices sinking.
OPEC+ agrees further accelerated oil output hike for July
OPEC+ agreed on Saturday to hike July oil output by 411,000 barrels per day (bpd), the same as in May and June, as the group of oil-producing countries continues to bring back supply more rapidly than earlier planned.
OPEC+ oil producers stick to their guns with another big hike for July
The world’s largest group of oil producers, OPEC+, stuck to its guns on Saturday with another big increase of 411,000 barrels per day for July as it looks to wrestle back market share and punish ...
Saudi Arabia to ‘take stock’ of spending after oil price drop
Finance minister tells FT the kingdom’s priority is to avoid long-running ‘trap of booms and busts’
Kazakhstan says it has told OPEC it won’t cut oil output, Interfax reports
Kazakhstan has informed OPEC that it does not intend to reduce its oil production, Russia's Interfax news agency cited Kazakhstan's Deputy Energy Minister Alibek Zhamauov as saying on Thursday. "We ...
Oil prices fall on demand concerns in volatile session as US court blocks Trump tariffs
Oil prices fell on Thursday, retreating from earlier gains, after the International Energy Agency's director warned of weaker demand in China, while the market also watched for potential new U.S.
US crude stocks, gasoline and distillate inventories fall - EIA
U.S. crude, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday.
How cheap steel endangers Europe’s defence build-up
Without its own industry, the continent will be forced to depend on foreign firms that could cut off supplies
NYMEX Overview: Petroleum Contracts Down on OPEC+ Supply and Trade Concerns -- OPIS
The more-active NYMEX July RBOB contract was off by 1.8cts to $2.0455/gal and June RBOB was down by 2.35cts to $2.066/gal. The NYMEX July ULSD contract was 2.9cts lower to $2.0415/gal and June ULSD ...
U.S. Crude Oil Stockpiles Fall More Than Expected
U.S. crude oil inventories fell more than expected last week as exports increased, and gasoline stocks declined amid a seasonal pickup in demand, according to data released Thursday by the U.S. Energy ...
Oil prices fall as investors assess US court ruling on Trump tariffs
Oil prices fell over 1% on Thursday, retreating from earlier gains, as investors weighed the potential effects of a U.S. court ruling that blocked the most sweeping of President Donald Trump's tariffs ...
Oil Futures Retreat After Boost From Tariff Ruling
The boost to oil from a U.S. court ruling against President Trump’s trade tariffs proves short-lived. WTI settled down 1.5% at $60.94 a barrel, and Brent fell 1.2% to $64.15.
Oil Prices Mixed; Larger-Than-Expected Decline in U.S. Crude Inventories May Weigh
Oil prices were mixed in the early Asian session, but may be weighed by a larger-than-expected decline in U.S. crude inventories.
Oil prices set for weekly drop with tariff legal battles, OPEC+ in focus
Oil prices were on track to end the week down more than 1% on Friday amid whipsawing tariff rulings in the U.S. and as the market braced for a potential OPEC+ output hike.
Oil Prices Set for Weekly Drop With Tariff Legal Battles, OPEC+ in Focus
Kazakhstan's energy minister on Thursday dismissed complaints from other members over Kazakhstan's overproduction, saying that the country's share in global production is less than 2% and that an oil ...
Commodities giant ADM exploits green fuel loophole, UK producers say
US company benefits from double subsidy on biofuels as surge in imports threatens to wipe UK ethanol industry
US crude and fuel inventories fall, Nigerian crude imports jump, EIA says
U.S. crude and fuel inventories all fell last week, while crude imports from Nigeria hit their highest level in nearly six years, the Energy Information Administration said on Thursday.
Oil set for second weekly decline as market eyes another OPEC+ output hike
Oil prices were on track for a second consecutive weekly decline on Friday, weighed down by expectations of another OPEC+ output hike in July and fresh uncertainty after the latest legal twist kept U.
Oil Gains on Gasoline Demand Despite OPEC+ Concerns
Crude oil eked out some gains and a huge spike in gasoline demand and dip in stocks ahead of the U.S. driving season has buoyed oil, ANZ said ahead of OPEC+’s expected weekend announcement of ...
Oil set for slight weekly decline as market eyes another OPEC+ output hike
Oil prices were stable on Friday, but on track for a second consecutive weekly decline, pressured by expectations of another OPEC+ output hike and uncertainty about U.S. tariffs after the latest legal twist kept them in place.
Sliding Oil Prices Have Reopened the Door to Russian Crude
A cadre of Greek shipping magnates has stepped back into the fold as the go-to distributors of Moscow’s crude to the world.
Oil price outlook weakens on OPEC+ hikes, lingering trade concerns
Analysts have revised down their oil price forecasts for the third consecutive month as swelling OPEC+ supply and lingering uncertainty around the impact of trade disputes on fuel demand weigh on ...