Saudi Arabia, the de facto leader of the oil cartel, sees advantages in increasing output despite market risks.
Category: Organization of the Petroleum Exporting Countries
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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.
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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.