The Latest Breaking News from Oil

Oil surges most in a year after OPEC+’s shocking production cut

Oil rallied the most in more than a year after OPEC+ unexpectedly announced output cuts that threaten to tighten the market and deliver a fresh inflationary jolt to the world economy.

Tribune News Service · Apr 3, 2023

OPEC+ pricing power is ‘higher than it’s ever been’ after oil cuts, Goldman Sachs says

Oil-producing allies approved another oil production cut that could deal damage to the West.

Fortune · Apr 3, 2023

What will it mean for petrol prices after Saudi Arabia cut oil production?

Brent crude oil is trading close to $85 a barrel, jumping by almost 6 per cent.

The Independent UK · Apr 3, 2023

OPEC+ Says Additional Voluntary Oil Production Cuts Will Be 1.66 Mln Bpd

The 48th Meeting of OPEC’s Joint Ministerial Monitoring Committee (JMMC) was held via videoconference on Monday. The Committee reviewed the crude oil production data for January and February 2023 and noted the overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

Asharq Al-Awsat · Apr 3, 2023

Troubled waters for inflation after fresh oil price hike

City Comment: OBR’s latest forecast of 2.9% inflation by the end of the year already looks in peril

Evening Standard · Apr 3, 2023

In Blue Colorado, Oil and Gas Companies Try a New Approach to Woo Democrats

Up against a heavily Democratic Legislature, fossil fuel firms funnel cash to politicos they’ve previously ignored to win precious votes.

Capital & Main · Apr 3, 2023

Pacific trade deal ‘will make mockery of UK’s climate ambitions’

CPTPP membership will result in more deforestation and endanger animal welfare, say campaigners

The Guardian - UK · Apr 3, 2023

Broader Market Climbs as Bond Yields Fall on U.S. ISM Manufacturing Miss

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.21%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.87%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.48%. U.S. stock indexes this morning are mixed, with the...

Barchart · Apr 3, 2023

Markets Today: Stock Indexes Mixed as Soaring Crude Prices Spark Inflation Concerns

Morning Markets The S&P 500 Index ( $SPX ) ( SPY ) today is up +0.06%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up +0.75%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is down - 0.69%. U.S. stock indexes are mixed...

Barchart · Apr 3, 2023

Oil producers' cuts could boost gasoline prices, help Russia

Some of the globe's biggest oil producers are cutting back

The Independent UK · Apr 3, 2023