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The Latest Breaking News from Oil

OPEC+ Invites Brazil to Join Oil Producers Alliance

Brazil is set to become the fourth Latin American country to become part of the cartel after Mexico and Venezuela. Ecuador withdrew in 2020

Latin Times

OPEC+ announces additional output cuts in bid to prop up volatile oil prices

Following a virtual meeting, OPEC+ members have announced additional oil supply cuts, with de facto leader Saudi Arabia saying it would extend an existing cut of one million barrels per day through to March next year. Russia pledged to slash oil exports by 500,000 barrels a day, up from 300,000,…

France 24

Crude Prices Fall on Market Doubts About OPEC+ Crude Production Cuts

January WTI crude oil (CLF24 ) on Thursday closed down -1.90 (-2.44%), and Jan RBOB gasoline (RBF24 ) closed down -0.0715 (-3.18%). Crude oil and gasoline prices on Thursday gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

Barchart

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Impossible to quit? COP28 showdown over phase out of fossil fuels

It's off the charts. All evidence points to an acceleration of the planet’s record-breaking heat. So the blame game begins, as the COP 28 summit opens in the oil and gas-rich United Arab Emirates, between those who provide fossil fuels, those who consume them and those in the front lines…

France 24

Marathon Oil (MRO) vs. NOW (DNOW) - Evaluating Energy Stocks for Q4 Potential

With the energy market buzzing from robust crude demand and optimistic industry projections alongside OPEC+ interventions, the trajectory for Brent crude prices appears upward. In this scenario, which energy stalwart, Marathon Oil (MRO) or NOW Inc. (DNOW), is better positioned for growth in the fourth quarter? Let's find out.

StockNews.com

Crude Slumps as Announced OPEC+ Crude Production Cuts Lack Details

January WTI crude oil (CLF24 ) this morning is down -2.31 (-2.97%), and Jan RBOB gasoline (RBF24 ) is down -0.0727 (-3.23%). Crude oil and gasoline prices this morning gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

Barchart

Brazil To Join OPEC+ In January: Report

An OPEC+ delegate told Reuters about Brazil's plans to join the international oil cartel. The government didn't confirm the report.

International Business Times

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A Texas politician wants to provide emergency services to constituents who don’t have them. Will they let him?

In unincorporated West Odessa, residents relish their freedom. And they also go without basic services. Ector County Judge Dustin Fawcett, a young Republican with Ronald Reagan good looks and politics, wants to change that.

The Texas Tribune

Trichologist reveals which hair oils are good or bad for your scalp

Do you use any of these oils?

Will OPEC+ Deepen its Crude Oil Production Cuts?

OPEC+ members are meeting virtually today to discuss crude production levels. Several delegates have said the group is discussing additional output cuts of about 1 million bpd. The monthly meeting of OPEC+ was pushed back to today from last Sunday as a rift developed among OPEC+ members regarding crude production...

Barchart

OPEC+ Agrees In Principle To 2 Million Barrel Production Cut For Early 2024

OPEC+ will reportedly expand existing production cuts; oil prices are up as a major climate summit gets underway.

International Business Times

Cop 28: World’s ‘most important’ climate summit begins - Tech & Science Daily podcast

World leaders have gathered in Dubai for COP28 but can a climate summit in an oil state facilitate change?

Evening Standard

Cop28 opens with historic launch of loss and damage fund

Nearly 200 nations agreed Thursday to launch a fund to support countries hit by global warming, in a "historic" moment at the start of UN climate talks in the oil-rich UAE.

Radio France Internationale

Hundreds Of New Oil And Gas Projects Approved Despite Climate Crisis

More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN COP28 climate talks opened Thursday.

International Business Times

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Al Jazeera

Loss and damage fund approved at UN’s COP28 climate summit in Dubai

UAE’s Sultan Al Jaber calls to ‘proactively engage’ fossil fuel companies as part of the solution to climate challenges.

WEKU

Global climate talks begin in Dubai, with an oil executive in charge

This year's United Nations climate summit is being held in the petroleum-dependent United Arab Emirates. Delegates began by approving a landmark fund to pay for climate losses.

The Conversation

COP28 begins: 4 issues that will determine if the UN climate summit is a success, from methane to money

The United Nations climate conference is underway in Dubai, and representatives from around the world will be confronting an extraordinary array of challenges over its two weeks. They carry with them some long-held – and new – grievances, and strong expectations.

Al Jazeera

COP28 Dubai: What were the gains of past five UN climate summits?

As COP28 commences in Dubai, here is a look at the major outcomes of the UN’s last five COPs and where they stand.

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The Independent UK

Pressure builds to eliminate fossil fuel use as oil executive takes over climate talks

The pressure to phase out of fossil fuels is mounting on the oil company chief who Thursday took over fragile international climate negotiations that opened in Dubai amid concerns about what some say is contradictory dual roles

StockNews.com

3 Energy Gems to Buy Now

The escalating crude oil prices, bolstered by robust global energy demand, could provide an impetus for operators to amplify oil and natural gas production, creating fruitful prospects for the energy sector players. Therefore, energy gems Liberty Energy (LBRT), Delek US Holdings (DK), and Precision Drilling (PDS) could be wise portfolio…

Barchart

2 Option Ideas To Consider This Thursday

Today, we are using some moving average filters to find bearish stocks and then looking at a couple of option trade ideas.

The Guardian - UK

Leaders of world’s major cities call for phase-out of fossil fuels

As Cop28 conference begins, letter to heads of state from the C40 group says fossil fuels era must end

Ideal Home

This is how much it *really* costs to run an oil-filled radiator – and 5 ways to make that price even cheaper

This affordable and portable heating option could be the answer to your winter woes

Radio France Internationale

Nations urged to take 'great leaps' at Cop28 UN climate conference in Dubai

The United Nations climate conference opens in Dubai on Thursday with nations under pressure to increase the urgency of action on global warming and wean off fossil fuels, amid intense scrutiny of oil-rich hosts United Arab Emirates.

The Guardian - UK

Starmer, Brown, Sunak and Hunt lead tributes to former chancellor Alistair Darling – as it happened

Alistair Darling was ‘one of the great chancellors’, says Jeremy Hunt, while Gordon Brown remembers ‘a statesman of unimpeachable integrity’

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