Industry experts are examining possible scenarios, including one in which the price of oil doubles this year.
Category: Organization of the Petroleum Exporting Countries
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Oil Prices Could Climb Higher if Mideast Tensions Escalate
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
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Oil Up, Global Stocks Down After Israel Strikes Iran
Oil prices are up and stocks are down, as investors fear a potential wider regional conflict.
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OPEC Plus Members Say They Will Fast-Track Oil Output
Saudi Arabia and the United Arab Emirates see a chance to ratchet up production in July, the third consecutive month of accelerated increases.
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U.S. Oil Companies Are ‘Battening Down the Hatches’
The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.
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Oil Prices Slide Further on Plans to Increase Supply
U.S. oil prices fell to around $56 a barrel after the OPEC Plus cartel said it would bring more oil to market.
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Oil Prices Are Falling. Here’s Where That Could Spell Trouble.
For countries that depend heavily on oil revenue, dropping prices are worrisome.
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Why OPEC Plus Is Increasing Oil Supplies Despite Falling Prices
The group agreed to raise output in June, a sign that Saudi Arabia and its allies appear to be weary of cutting output and may be trying to appease President Trump, who has pushed for lower prices.
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Exxon and Chevron Report Lower Profits While Girding for Tariffs
President Trump’s trade policies have helped to push down oil prices while raising the costs of materials for oil and gas companies.
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Slumping Oil Prices Reflect Intensifying Economic Worries
Fears that President Trump’s tariffs could slash global economic growth — and demand for oil — were weighing on the market.
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Oil Producers Follow Trump’s Tariffs With a Surprise Increase
Saudi Arabia and other members of the OPEC Plus group accelerated their program to put more oil on the market, adding to a sharp fall in prices.