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 ...

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.

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

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

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.

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 ...

Yet getting the rest of OPEC to pick up the slack won’t be easy either: Iran, for example, is busy cranking out as much oil as possible. OPEC’s sweet spot may not last. Reuters Graphics ...

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… ...

Saudi Arabia, the de facto leader of OPEC Plus, is signaling that it is reluctant to hold back millions of barrels a day of oil that it could produce, especially when other members of the group ...

The Organization of the Petroleum Exporting Countries is hoping to give out more membership cards soon, with only 13 countries currently part of the oil producer group.

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 ...