Israel and Iran are fighting at a time when prices are under pressure because of weak demand in China and concerns about oversupply.
Category: Organization of the Petroleum Exporting Countries
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F.T.C. Clears Chevron’s Purchase of Hess With Board Condition
The Federal Trade Commission said the oil giant can acquire the smaller company as long as the chief executive of Hess does not join its board.
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OPEC Plus Delays Plan to Increase Oil Output
OPEC Plus will extend its cuts until at least December. Demand has weakened, and other countries, including the United States, are expected to continue to increase production.
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Why Oil Prices Remain Subdued
Despite war in the Middle East and political turmoil in Libya, investors are focusing on what look like ample global supplies.
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OPEC Plans a Gradual Unwinding of Production Cuts
The group announced after its meeting on Sunday that it would be extending production cuts into 2025 and laid out plans for phasing out voluntary cuts. Whether the strategy will work remains to be seen.
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OPEC to Meet Amid Signs of Waning Influence on Oil Prices
Major producers, including Saudi Arabia and Russia, are set to gather virtually on Sunday. They are expected to maintain production cuts amid signs of a softening market.
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F.T.C. Clears Exxon Mobil’s Acquisition of Pioneer Natural Resources
The Federal Trade Commission will bar Pioneer’s chief executive, Scott Sheffield, from joining Exxon’s board, saying he colluded with OPEC to reduce oil production.
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Why Oil Prices Have Been Rising Recently
The increase this year, prompted by geopolitical worries and supply constraints, has sent gasoline prices higher and could hamper efforts to tame inflation.
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OPEC to Extend Oil Production Cuts Through June
Saudi Arabia’s announcement appears to be aimed at bolstering oil prices as growth in demand remains modest.
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Saudi Aramco Abruptly Drops Plans to Expand Oil Production
The pullback, at the behest of the Saudi government and made with little comment, probably reflects a more subdued outlook for demand of Saudi Arabia’s oil.
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Angola to Quit OPEC in Dispute Over Oil Production Levels
Officials have been unhappy after the oil cartel, led by Saudi Arabia, pushed Angola and other countries to accept lower production ceilings.
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Oil Producers Back Climate Deal Despite Fossil Fuel Language
At the United Nations climate conference, the final statement included elements that pleased oil and gas producers.