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The Latest Breaking News from OPEC

Petrol prices expected to rise as oil cost climbs above $90 a barrel

Motorists could be hardest hit after Russia and Saudi Arabia extend cuts to supplies

The Guardian - UK

Saudi Arabia, Russia plan to extend 1.3 million barrel a day oil cut through the end of the year

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of the year

The Independent UK

What causes high gas prices?

The price of crude oil is the single biggest contributor to the retail price of gasoline.

USAFacts

From analysis to the latest developments in health,
read the most diverse news in one place.

Crude Rallies on Report Russia Will Extend Its Export Cuts

October WTI crude oil (CLV23 ) today is up +0.87 (+1.07%), and Oct RBOB gasoline (RBV23 ) is down -0.0094 (-0.37%). Crude oil prices are higher today after a report that Russia has agreed with OPEC+ on further output restrictions. Bloomberg News reported that Russia will announce next week that...

Barchart

3 Energy Stocks for High-Powered Investment Portfolio

The energy industry is positioned for solid growth due to the rising global energy demand, heightened summer travel, and limited supplies. To that end, it could be wise to invest in fundamentally strong energy stocks Graham Corporation (GHM), Geospace Technologies (GEOS), and Profire Energy (PFIE). Read more.

StockNews.com

Power up Profits With 3 Energy Stocks

As OPEC flags a healthy outlook for the second of the year, the prospects of the oil market show promise. Therefore, investing in fundamentally robust energy stocks REX American Resources (REX), NOW Inc. (DNOW), and ChampionX Corp. (CHX) could help boost your portfolio returns. Learn more….

StockNews.com

Will Gasoline’s Price Fall Going into the Off-Season?

While the number of electric vehicles on the road continues to rise, gasoline remains the fuel powering most vehicles. Gasoline is a seasonal energy commodity that tends to increase during spring and summer, the peak driving season, and fall during fall and winter. At the end of the 2023 summer,…

Barchart

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What Is Inflation?

Inflation has been top of mind for investors in recent years, but what is inflation and why does it matter?

Kiplinger

Crude Prices Rally on Tight Supplies and Global Economic Strength

September WTI crude oil (CLU23 ) on Monday closed up +1.22 (+1.51%), and Sep RBOB gasoline (RBU23 ) closed up +0.79 (+0.27%). Crude oil and gasoline prices Monday settled moderately higher, with crude posting a 3-1/2 month high. Recent supply cuts from OPEC+ and Russia are underpinning crude oil prices....

Barchart

Crude Prices Underpinned by Tight Supplies and Global Economic Strength

September WTI crude oil (CLU23 ) this morning is up +1.01 (+1.25%), and Sep RBOB gasoline (RBU23 ) is down -0.93 (-0.42%). Crude oil and gasoline prices this morning are mixed, with crude climbing to a 3-1/2 month high. Crude prices are underpinned by recent supply cuts from OPEC+ and...

Barchart

The oil industry has succumbed to a dangerous new climate denialism

If we have not been warned of the dangers of climate change this summer, we never will be. Extreme heat, forest fires and floods have been all over news reports. Yet the oil and gas industry remains largely in denial.

The Conversation

Earnings, PMI and Other Can't Miss Items this Week

What a week to trade and invest. With the FED raising 25 bps as expected the market reacted with the usual volatility.

Barchart

Gas-Saving Tips That Actually Work

These are gas-saving tips that will actually work for you and your car this year.

Kiplinger

Oil Prices Predicted to Recover Amidst Global Economic Rebound

The average price of ICE Brent crude oil in the second quarter of 2023 (April 1 - June 30, 2023) remained stable at $77.75 per barrel, indicating tighter supply in the market compared to the previous quarter. Following the OPEC and its allies (OPEC+) meeting on April 3, 2023, a…

Bangkok Post

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StockNews.com

Buy These 3 Energy Stocks for an Easy Investment

Robust oil demand should strengthen the energy market landscape. Therefore, fundamentally stable energy stocks REX American Resources (REX), Ranger Energy Services (RNGR), and NCS Multistage Holdings (NCSM) could be wise investments now. Read on….

Barchart

Crude Prices Slide on Global Energy Demand Concerns

August WTI crude oil (CLQ23 ) on Monday closed down -0.87 (-1.18%), and Aug RBOB gasoline (RBQ23 ) closed down -1.97 (-0.76%). Crude oil and gasoline prices Monday settled moderately lower. Concerns that a slowdown in China's economy will crimp its energy demand weighed on crude prices Monday. Also, comments...

Barchart

Crude Slightly Lower on Global Energy Demand Concerns

August WTI crude oil (CLQ23 ) this morning is down -0.09 (-0.12%), and Aug RBOB gasoline (RBQ23 ) is up +0.30 (+0.12%). Crude oil and gasoline prices this morning are mixed. Concerns that a slowdown in China's economy will crimp its energy demand are weighing on crude prices today. Also,...

Barchart

Crude Rallies on Dollar Weakness and Lower Global Crude Production

August WTI crude oil (CLQ23 ) on Friday closed up +2.06 (+2.87%), and Aug RBOB gasoline (RBQ23 ) closed up +4.55 (+1.79%). Crude oil and gasoline prices Friday settled moderately higher, with crude climbing to a 1-month high. A fall in the dollar index (DXY00 ) Friday to a 2-week...

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Barchart

Crude Pushes Higher on Dollar Weakness and the Outlook for Tighter Global Supplies

August WTI crude oil (CLQ23 ) this morning is up +1.01 (+1.41%), and Aug RBOB gasoline (RBQ23 ) is up +3.26 (+1.28%). Crude oil and gasoline prices this morning are moderately higher, with crude climbing to a 1-month high. A decline in the dollar index (DXY00 ) to a 1-1/2...

Barchart

Crude Little Changed as Weekly EIA Crude Inventories Fall Less Than Expected

August WTI crude oil (CLQ23 ) on Thursday closed +0.01 (+0.01%), and Aug RBOB gasoline (RBQ23 ) closed +2.55 (+1.01%). Crude oil and gasoline prices Thursday closed higher, with crude posting a 2-week high. Thursday's action by Saudi Arabia to boost crude prices for August delivery boosted energy prices. Also,...

Barchart

Crude Prices Fall as Fed Rate Hike Fears Spark Risk Aversion

August WTI crude oil (CLQ23 ) this morning is down -0.76 (-1.06%), and Aug RBOB gasoline (RBQ23 ) is down -0.77 (-0.31%). Crude oil and gasoline prices this morning gave up early gains and are moderately lower, with crude falling from a 2-week high. A rally in the dollar index...

Barchart

Crude Settles Higher as Saudi Arabia and Russia Cut Production

August WTI crude oil (CLQ23 ) on Wednesday closed up +2.00 (+2.87%), and Aug RBOB gasoline (RBQ23 ) closed up +5.59 (+2.27%). Crude oil and gasoline prices Wednesday rallied to 1-week highs and closed sharply higher. The outlook for tighter global crude supplies is pushing prices higher after Saudi Arabia...

Barchart

Crude Rises on the Outlook for Tighter Global Oil Supplies

August WTI crude oil (CLQ23 ) this morning is up +2.01 (+2.88%), and Aug RBOB gasoline (RBQ23 ) is up +6.34 (+2.57%). Crude oil and gasoline prices this morning are sharply higher, with crude posting a 1-1/2 week high. The outlook for tighter global crude supplies is pushing prices higher...

France 24

OPEC meeting kicks off with benchmark oil prices under pressure

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European…

Barchart

Crude Relinquishes Early Gains on Energy Demand Concerns

August WTI crude oil (CLQ23 ) on Monday closed -0.85 (-1.20%), and Aug RBOB gasoline (RBQ23 ) closed down -8.25 (-3.24%). Crude oil and gasoline prices Monday gave up an early rally and closed moderately lower. A stronger dollar Monday weighed on energy prices. Also, energy demand concerns undercut oil...

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