The Latest Breaking News from OPEC

OPEC+ Meets As Oil Output Hike Looms

Ministers of the OPEC+ oil alliance, led by Saudi Arabia and Russia, discussed production on Wednesday as another hike looms despite falling prices.

International Business Times · May 28, 2025

Crude Prices Climb on Possible Sanctions on Russian Oil and Middle East Tensions

July WTI crude oil (CLN25 ) today is up +1.02 (+1.68%), and July RBOB gasoline (RBN25 ) is up +0.0150 (+0.73%). Crude oil and gasoline prices today are climbing on concern the US might ramp up sanctions on Russian crude exports as Russian President Putin refuses to agree to a...

Barchart · May 28, 2025

Expectations for Higher OPEC+ Output Weigh on Crude Prices

July WTI crude oil (CLN25 ) Tuesday closed down -0.64 (-1.04%), and July RBOB gasoline (RBN25 ) closed down -0.0275 (-1.32%). Crude oil and gasoline prices on Tuesday settled sharply lower, with gasoline posting a 2-1/2 week low. Tuesday's stronger dollar weighed on energy prices. Crude prices were also under...

Barchart · May 27, 2025

Oil under pressure as OPEC+ weighs further output hike ahead of US-Iran talks

Crude oil prices extended their losses following reports that OPEC+ is considering a further production increase in July, ahead of US-Iran nuclear talks later today. Oil markets remain caught between escalating geopolitical tensions and persistent concerns over a potential oversupply.

Euronews · May 23, 2025

Crude Prices Weighed Down by Fears of a Global Supply Glut

July WTI crude oil (CLN25 ) Thursday closed down -0.37 (-0.60%) and July RBOB gasoline (RBN25 ) closed down -0.0127 (-0.60%). Crude oil and gasoline prices on Thursday fell to 1-week lows and settled lower. Thursday's stronger dollar was bearish for energy prices. Also, concerns about a global supply glut...

Barchart · May 22, 2025

Crude Prices Decline as OPEC+ may Boost Production Again in July

July WTI crude oil (CLN25 ) today is down -0.71 (-1.15%) and July RBOB gasoline (RBN25 ) is down -0.0249 (-1.18%). Crude oil and gasoline prices today are moving lower and posted 1-week lows. Today's stronger dollar is bearish for energy prices. Also, concerns about a global supply glut of...

Barchart · May 22, 2025

UK petrol prices poised to fall further as oil prices tumble

Global prices drop after reports that Opec+ is ready to raise output despite weaker demand for fossil fuels

The Guardian - UK · May 22, 2025

Crude Prices Settle Lower as EIA Crude Inventories Rise to a 10-Month High

July WTI crude oil (CLN25 ) Wednesday closed down -0.46 (-0.74%) and July RBOB gasoline (RBN25 ) closed up +0.0003 (+0.01%). Crude oil prices on Wednesday fell from a 1-month high and turned lower after weekly EIA crude inventories unexpectedly rose to a 10-month high. Crude prices Wednesday initially spiked...

Barchart · May 21, 2025

Crude Prices Decline as Weekly EIA Inventories Unexpectedly Increase

July WTI crude oil (CLN25) today is down -0.28 (-0.45%) and July RBOB gasoline (RBN25) is down -0.0145 (-0.68%). Crude oil prices today fell from a 1-month high and turned lower after weekly EIA crude inventories unexpectedly rose to a 10-month high. Crude prices today initially spiked higher on escalating...

Barchart · May 21, 2025

Risk-Off Sentiment in Asset Markets Weighs on Crude Prices

June WTI crude oil (CLM25 ) Tuesday closed down -0.13 (-0.21%) and June RBOB gasoline (RBM25 ) closed up +0.0133 (+0.62%). Crude oil prices on Tuesday posted modest losses as weakness in equity markets sparked risk-off sentiment in asset markets and dampened confidence in the economic outlook and energy demand....

Barchart · May 20, 2025