Brent crude rose on Monday after the world’s biggest oil producer announced it would be the lone OPEC Plus member to cut production next month.
Category: Organization of the Petroleum Exporting Countries
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Saudi Arabia Says It Will Cut Production to Stem a Slide in Oil Prices
OPEC Plus, the group of major oil producers, said it would continue its recent cuts in output, but Saudi Arabia said it would cut further for at least a month.
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OPEC Plus May Consider Cuts in Oil Production
The group of major oil producers and Russia will meet this weekend to discuss a swoon in oil prices.
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The Week in Business: Cuts to Oil Production
Job growth last month continued at a steady, but slower pace. The Biden administration unveiled its plans for the I.R.S. And a new inflation reading comes out.
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Ari Emanuel Buys a Pro Wrestling Heavyweight
Ari Emanuel’s Endeavor acquires World Wrestling Entertainment to create a live event and combat sport giant.
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Oil Prices Jump After Surprise OPEC Production Cut
Adding to global economic uncertainties, oil prices rose about 5 percent on Monday after Saudi Arabia and other major producers announced a surprise cut in crude production.
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In Surprise, OPEC Plus Announces Cut in Oil Production
Oil prices soared 7 percent on Sunday night after the group’s move to cut 1.2 million barrels a day.
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In Surprise, OPEC Plus Announces Cut in Oil Production
The move is an apparent effort to boost prices. Still, its significance may be slight, especially if the global economy slows.
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Oil Prices Rise as the West Imposes a Cap on Russian Crude
Energy traders pushed crude prices higher on Monday following Europe’s embargo of seaborne Russian crude and a price cap by Group of 7 nations went into effect.