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The Latest Breaking News from OPEC

Crude Gains as Saudi Arabia Extends its Production Cut

August WTI crude oil (CLQ23) this morning is up +0.55 (+0.78%), and Aug RBOB gasoline (RBQ23) is down -1.39 (-0.55%). This morning, crude oil and gasoline prices are mixed, with crude posting a 1-week high. The main bullish factor for crude prices is today's action by Saudi Arabia to announce...

Barchart

Crude Oil Prices See Support as Saudi Arabia Expected to Extend its Production Cut

August WTI crude oil (CLQ23 ) is up +0.64 (+0.92%), and Aug RBOB gasoline (RBQ23 ) is up +0.0116 (+0.46%). Crude oil prices are seeing support from today's rally in stocks, which supports the outlook for the economy and energy demand. Crude oil is getting a boost today from the...

Barchart

Are These 3 Energy Stocks Worth Buying This Week?

The energy sector is well-positioned to witness significant growth this year due to the robust demand and soaring prices. Given this backdrop, fundamentally strong energy stocks TotalEnergies SE (TTE), North European Oil Royalty (NRT), and Permianville Royalty (PVL) could be wise additions to your portfolio now. Read on….

StockNews.com

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Crude Oil Prices Close Just Mildly Higher After Russian Instability

August WTI crude oil (CLQ23 ) Monday closed +0.21 (+0.30%), and Aug RBOB gasoline (RBQ23 ) closed up +1..82 (+0.75%). Crude oil and gasoline prices Monday closed mildly higher on weakness in the dollar index and the brief weekend insurrection by the Wagner Group, which initially sparked some concern about...

Barchart

Crude Oil Prices Just Mildly Higher After Russian Instability

August WTI crude oil (CLQ23 ) today is up +0.14 (+0.20%), and Aug RBOB gasoline (RBQ23 ) is up +0.0012 (+0.05%). Crude oil and gasoline prices today are mildly higher on weakness in the dollar index and the brief weekend insurrection by the Wagner Group, which initially sparked some concern...

Barchart

Why Are Investors Buying These 3 Energy Stocks?

The energy sector’s outlook looks bright as high oil demand primarily from China and constrained supplies as Saudi announced further output cuts could drive oil and gas prices higher this year. So, let’s find out why Energy Transfer (ET), Cheniere Energy (LNG), and Weatherford (WFRD) are attracting significant investors’ attention…

StockNews.com

Oil Climbs As Russia Crisis Rattles Global Energy Markets

The short-lived threat to Vladimir Putin's leadership in Russia has oil markets on the move Monday, but demand concerns have limited early gains.

The Street

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Analysis: Iraq’s new budget may hamper more than it helps

This year’s budget is Iraq’s largest at 198.9 trillion dinars ($153bn) with the same allocated for 2024 and 2025.

Al Jazeera

Crude Prices Finish Sharply Higher on Hopes for Additional China Stimulus

July WTI crude oil (CLN23 ) on Tuesday closed up +2.30 (+3.43%), and July RBOB gasoline (RBN23 ) closed up +7.53 (+3.03%). Crude oil and gasoline prices Tuesday rallied sharply. A slump in the dollar index Tuesday to a 3-week low was bullish for energy prices. Also, the outlook for...

Barchart

FOMC, CPI and Other Key Themes to Watch This Week

This week is packed with news and events. The FOMC is the big one of the week, but we also have CPI, PPI, Bond Auctions, Oil Reserves (which may be important with the OPEC cut), and plenty of other big news.

Barchart

Crude Prices Fall on Energy Demand Concerns in China

July WTI crude oil (CLN23 ) on Friday closed down -1.12 (-1.57%), and July RBOB gasoline (RBN23 ) closed down -1.95 (-0.75%). Crude oil and gasoline prices Friday posted moderate losses. A stronger dollar Friday undercut energy prices. Also, concern about weakness in China's energy demand is bearish for crude...

Barchart

Crude Slightly Lower on Energy Demand Concerns in China

July WTI crude oil (CLN23 ) this morning is down -0.08 (-0.11%), and July RBOB gasoline (RBN23 ) is down -0.16 (-0.06%). July Nymex natural gas (NGN23 ) is down -0.063 (-2.68%). Crude oil and gasoline prices today are slightly lower. A stronger dollar today is undercutting energy prices. Also,...

Barchart

America is going through an oil boom — and this time it's different

Business is pretty good in America's busiest oil patch. Prices are high enough to turn a profit and then some. But instead of going wild, producers have been aiming for something new: Discipline.

WEKU

Crude Prices Fall on Iran Media Reports and Global Energy Demand Concerns

July WTI crude oil (CLN23 ) on Thursday closed down -1.24 (-1.71%), and July RBOB gasoline (RBN23 ) closed down -2.85 (-1.08%). Crude oil and gasoline prices this morning gave up an early advance and posted moderate losses on reports that Iran and the U.S. have made progress in talks...

Barchart

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StockNews.com

3 Foreign Oil Stocks to Buy for Value

Despite macroeconomic headwinds, strong global oil demand and constrained supply as Saudi signaled more output cuts could likely boost oil prices this year. Amid this, fundamentally strong foreign oil stocks BP (BP), Repsol (REPYY), and Ultrapar (UGP), currently trading at a discount, could be ideal investments. Keep reading….

StockNews.com

Which Energy Stock Should You Invest In: Marathon Oil (MRO) or Cheniere Energy (LNG)

After a stellar performance in 2022, the energy sector is expected to maintain its growth momentum this year. Strong energy demand worldwide and massive oil production cuts could significantly lift oil and gas prices. Energy producers Marathon Oil (MRO) and Cheniere Energy (LNG) are poised to benefit from the sector’s…

The Week

Has Saudi Arabia lost control of oil prices?

Saudi Arabia has risked divisions within Opec, inflaming tensions with the US and reigniting inflation in Europe, all in a bid to boost flagging oil prices.

Barchart

No Surprise as OPEC+ Trims Production

OPEC, the international oil cartel, meets twice yearly in a formal gathering in Vienna, Austria. The members convene to debate and decide on petroleum production policy for the coming months to balance supply and demand at a price that delivers the most attractive return for oil-producing countries and traditional energy…

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Barchart

OPEC+ -- No Surprise as the Cartel Trims Production

The Hindu

Eye on oil: on oil prices and India

The softening in crude oil purchase prices has not percolated to the Indian consumer

Investors Business Daily

Oil Prices Jump As Saudi Arabia Rattles Short Sellers

Oil prices popped Monday following Saudi Arabia's decision to cut oil production.

The Street

Oil Prices Leap As Saudi Arabia Unveils Lollipop to OPEC Production Cuts

"This is a Saudi lollipop," Saudi Energy Minister Prince Abdulaziz called the Kingdom's production cuts a "Saudi lollipop" that would "ice the cake of OPEC's efforts to stabilize global crude markets.

The Street

Stocks Mixed, Week Ahead, OPEC Cuts, Palo Alto Networks Joins S&P 500, AstraZeneca Lung Cancer Trial - 5 Things To Know

Stock futures edge higher as jobs report, debt deal boost global markets; Week Ahead: inflation data, Treasury bond sales in focus; Saudi Arabia agrees steep production cuts as OPEC seeks to 'stabilize' global markets; Palo Alto Networks leaps on S&P 500 inclusion, DISH Networks slumps and AstraZeneca unveils 'unprecedented' data…

The Guardian - UK

Brent crude price rises after Saudi Arabia agrees to cut oil output

Price gained more than 2% on Monday morning to touch one-month high of $78.73

Reuters

Venezuela's Maduro visits Saudi Arabia -state media

Venezuelan President Nicolas Maduro arrived in Saudi Arabia on Monday, state media reported, as the kingdom continues to expand its diplomatic outreach beyond traditional Western alliances.

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