For countries that depend heavily on oil revenue, dropping prices are worrisome.
Category: Organization of the Petroleum Exporting Countries
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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.
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Oil Prices Fall After OPEC Plus Affirms Plan to Raise Production
The Saudi-led cartel said its members would start gradually pumping more oil in April.
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Oil Markets Shrug Off Overthrow of Syria’s al-Assad
Traders appeared to be more concerned about tepid global growth and an oversupply from other producers than about Bashar al-Assad’s ouster.
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OPEC Plus Postpones Plan to Increase Oil Output for Three Months
The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other countries to raise production.
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With Oil Prices Weak, OPEC+ Postpones Increases Again
Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday.
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At a Glitzy Saudi Investment Forum, Almost No Mention of War
Saudi Arabia and its Gulf neighbors are seeking to reassure foreign investors that it’s still safe to do business amid the turmoil around the Mideast.