West Texas Intermediate (WTI), futures on NYMEX, recovers its initial losses and rebounds to near $65.50 during the European ...

However, it could only work for so long. Soon, OPEC will need to make a decision. Last year, oil traders were almost exclusively focused on demand and threats thereof, especially in China.

A portfolio manager pointed out a “unique” market development that could already be helping to tighten global crude inventories, even as major oil producers look to boost output for a fifth straight ...

The latest oil supply shockwave unleashed by OPEC+ is set to swell a surplus later this year, pressuring prices for producers ...

Oil rally to $100 not ruled out by OPEC sources; So far in 2023 Brent is up slightly at just over $86; China demand rebound, lack of sizeable supply growth key drivers ...

OPEC may soon lose its sway over global oil prices, IEA says. Anna Cooban, CNN. June 12, 2024 at 9:39 AM. Copied; Manaure Quintero/Bloomberg/Getty Images.

OPEC Is Losing Its Mojo on Wall Street Recent production cuts by the cartel and its allies haven’t led to sustained higher oil prices An oil field north of Basra, Iraq.

OPEC is in a bit of a damned if you do, damned if you don’t situation when it comes to oil production. “They’ve got a lot of oil capacity being held back,” said Jim Krane with Rice University.

OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million ...

Prominent OPEC countries may be reluctant to risk lower oil prices, as doing so could jeopardize the budgets for their ... direction with Brent crude price expected to hit $90 a barrel soon.

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday credited the U.S. and European Union (EU) for better-than-expected economic growth in 2022 while cautioning that such progres… ...

Yet the cartel is now overproducing so much that its daily output in 2024 is little changed from the last quarter of 2023. This will create tensions when members decide their strategy at OPEC ’s ...