Eight members of the oil cartel agreed on Sunday to a small increase but said they would now pause in adding more oil, reflecting market concerns about an oversupply.
Category: Organization of the Petroleum Exporting Countries
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Oil Prices Dropped 19%, Helping Drivers, but Squeezing the Industry
Oil prices have fallen sharply this year as global supply remains strong and demand has been slow to grow.
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OPEC Plus Agrees to Small Boost in Oil Production
Saudi Arabia, the de facto leader of the oil cartel, sees advantages in increasing output despite market risks.
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Oil Producers Announce New Increase in Production
In a show of confidence in the market, the group, led by Saudi Arabia, said it would begin unwinding a further set of agreed cuts.
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OPEC Plus Agrees to Pump More Oil in August
The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts expected and could lead to lower oil prices.
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Summer Gas Prices at 4-Year Low as Israel and Iran Agree to Cease-Fire
A fragile cease-fire in the Middle East and an oil supply chain without significant disruptions have helped keep gas prices stable.
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The Markets Are Balancing on a Knife’s Edge
The world has been anything but peaceful, but you wouldn’t know that from looking at the markets.
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Oil Prices Drop, but Iran-Israel Conflict Raises Many Risks
Industry experts are examining possible scenarios, including one in which the price of oil doubles this year.
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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.