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The Latest Breaking News from OPEC

Saudi Arabia swings again -- but for how long?

Fluctuating Chinese demand has contributed to this year's volatility in international oil prices. But the latest evolution on the supply side will have immediate geopolitical and financial implications that go well beyond the oil market. Specifically, Saudi Arabia has returned as the most important swing producer and thus the most…

Bangkok Post

OPEC+ to Maintain Slight Output Hike in August

OPEC+ agreed on Thursday to stick to a planned oil output hike this summer but avoided discussing policy from September onwards as prices have risen on tight supplies and worries that the group has little ability to pump more. The group, which comprises the Organization of the Petroleum Exporting Countries…

Asharq Al-Awsat

Oil Prices Ease on Recession Fears, Headed for 3rd Weekly Loss

Oil prices eased on Friday as lingering fears of a recession demand weighed on sentiment, putting the benchmarks on track for their third straight weekly losses. Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel by 0428 GMT, giving up earlier gains of over $1. WTI…

Asharq Al-Awsat

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Stocks and oil sink on recession fears

New York (AFP) - World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded after an OPEC decision to proceed with a limited boost to output.

AFP

Stocks sink on recession fears, oil slips

London (AFP) - World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded after an OPEC decision to proceed with only a limited boost to output.

AFP

OPEC+ stays the course on oil output boost

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia stuck to a previously decided output boost on Thursday, despite calls for bigger increases to tame crude prices.

AFP

Stocks sink on recession fear, oil slips before OPEC

London (AFP) - World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded before an OPEC output decision.

AFP

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OPEC+ tipped to stay the course on oil output boost

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost on Thursday, despite calls for bigger increases to tame crude prices.

AFP

OPEC+ may not be much help with high oil, gasoline prices

Oil prices are high, and drivers are paying more at the pump

The Independent UK

OPEC+ expected to stay course on oil output boost

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at their meeting on Thursday, despite pressure to further increase production.

AFP

Stock Market Bounces But IBD 50, Small Caps Lag; This Stock Takes A Bath

The stock market rebounded moderately after Tuesday's sell-off, as investors watched new comments from Fed Chairman Jerome Powell.

Investors Business Daily

UAE’s Production Near Maximum Capacity Based on OPEC+ Baseline

The United Arab Emirates' oil production is near to maximum capacity based on its current OPEC+ production baseline, which is 3.168 million barrels per day, Energy Minister Suhail al-Mazrouei told state news agency WAM on Monday. “In light of recent media reports, I would like to clarify that the UAE…

Asharq Al-Awsat

OPEC+ Sticks To Script, While Crude Oil Prices Fall In June

Oil-producing nations met as world leaders focus on how to drum up supply amid inflation and recession fears.

Investors Business Daily

Macron tells Biden that UAE, Saudi can barely raise oil output

French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production.

Reuters

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The Conversation

Sanctions against Russia: taking stock four months after the start of the war

On 23 February – the eve of Russia’s invasion of Ukraine – the Council of the European Union (EU) adopted the first package of sanctions in response to Moscow’s recognition of the self-proclaimed autonomous republics of Donetsk and Lugansk.

The New Daily

OPEC meeting and Australian retail sales top this week’s must-watch events

Oil cartel OPEC+ meets this week to discuss its production plans. It comes at a critical time for the crude oil market amid growing fears of a recession.

Asharq Al-Awsat

Oil Rises in Volatile Trading amid Supply Uncertainty

Oil prices edged higher amid a volatile trading session on Friday, as supply uncertainty outweighed fears of slower demand from cooling US economic activity. Brent crude futures climbed 31 cents, or 0.3%, at $110.36 a barrel by 0630 GMT, while US West Texas Intermediate (WTI) crude futures were up 59…

StockNews.com

XOM Surged More Than 40% YTD, Is It a Better Buy Than SHEL?

Given a demand-supply imbalance in the energy sector, rising prices should benefit integrated oil and gas companies Exxon Mobil (XOM) and Shell (SHEL). XOM gained 43.6% year-to-date versus SHEL’s 17.1%. But which of these stocks is a better buy now? Read more to find out.

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The Guardian - US

Biden’s proposed federal tax cut on gas could cost dearly in the future

Experts warn cutting the 18 cents will take a toll on highway upkeep and cause prices to rise further when the holiday ends

Bangkok Post

Prolonged Russia-Ukraine war shakes up global energy stability

The prolonged Russia-Ukraine war started in February and dragging on into the second quarter of 2022, has caused a hike in global crude oil prices to high levels. The average price of ICE Brent crude oil increased from 13.86 USD per barrel in the first quarter of 2022 to 111.63…

Asharq Al-Awsat

OPEC’s Barkindo: Common Objective with Non-OPEC Partners is Market Stability

The common objective of the Organization of the Petroleum Exporting Countries and its non-OPEC partners has always been to maintain oil market stability, not to raise prices or bring them down, OPEC Secretary-General Mohammad Barkindo said on Saturday. Asked whether bringing 9.7 million barrels a day back to the market…

The Guardian - AU

Stagflation: what is it and is it really happening in Australia?

Australians are feeling the pinch from rising inflation, but experts are divided on whether the 1970s economic phenomenon is back

Evening Standard

Oil prices surge higher as OPEC boss warns they are “nowhere near” the peak

Drivers braced for the £100 tank of petrol as oil price continues to rise

Bangkok Post

Saudi is swinging again, but for how long?

Fluctuating Chinese demand has contributed to this year’s volatility in international oil prices. But the latest evolution on the supply side will have immediate geopolitical and financial implications that go well beyond the oil market. Specifically, Saudi Arabia has returned as the most important swing producer and thus the most…

Benzinga

The Hunt For New Oil Supplies

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

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