OPEC and its allies have begun accelerating their tightening of the oil market, with the group’s crude oil output shrinking 670,000 b/d in the first month of expanded voluntary cuts in May, according to the […]
Saudis offers new voluntary cuts of 1 mln bpd for July Russian, Nigerian, Angolan targets brought in line with output UAE allowed to raise production (Reuters) – Saudi Arabia will make deep production cuts in […]
With the next OPEC+ meeting taking place this Sunday and the U.S. debt ceiling saga set to draw a conclusion around the same time, oil markets are sure to be on edge all week. Investor […]
While U.S. shale production is still growing, it is expected to grow at a slower pace due to cost inflation and mixed messages from the Biden administration. As U.S. shale production growth slows, OPEC will […]
After OPEC+, consisting of 23 oil-exporting countries including Russia, revealed crude oil production cuts for 2023, the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy, has slightly […]
After catching some decent inflation data last week, the Federal Reserve probably could have had a better start to this week than receiving the news that OPEC in a very surprising move cut oil production […]
Energy Secretary Jennifer Granholm last month said it would be difficult for the U.S. to take advantage of low oil prices to replenish the Strategic Petroleum Reserve because of maintenance at two of the four […]
April 2 (Reuters) – The Biden administration said the surprise oil output cuts announced on Sunday by Saudi Arabia and other OPEC+ countries were not advisable. “We don’t think cuts are advisable at this moment given market […]
Dow Jones edged higher early Monday morning, while S&P 500 and Nasdaq futures fell modestly. Crude oil prices jumped on a surprise OPEC+ output cut. Tesla deliveries also are in focus. The stock market rally […]
The Joint Ministerial Monitoring Committee of the OPEC+ group recommended that no changes be made to oil production quotas. The decision was not a surprise, with Putin and MBS having discussed OPEC+ cooperation just days […]
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