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The Latest Breaking News from OPEC

FTSE 100 Live: Tesco profits fall, OPEC considers oil output cut

Tesco’s half-year profits have fallen 10% as the supermarket giant grapples with the impact of “significant” cost inflation.

Evening Standard

White House ‘disappointed’ as Opec+ cuts production by 2m barrels per day – business live

Oil cartel and allies including Russia make biggest cut in output since the start of the pandemic, despite pressure from the White House

The Guardian - UK

AP News Digest 3 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

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Opec+ expected to slash oil output

VIENNA: Major oil producers led by Saudi Arabia and Russia were set to meet Wednesday as reports said they were mulling an output cut of up to 2 million barrels per day in a bid to prop up slumping prices.

Bangkok Post

‘Significant risk’ of winter gas shortages in Great Britain, warns Ofgem

Electricity-producing firms ask regulator to change rules that could penalise them if gas supplies run out

The Guardian - UK

Oil Jumps More Than $3 as OPEC+ Weighs Output Cut

Oil prices jumped by more than $3 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic. Brent crude futures rebounded $3.37, or 4%, to $88.51 a…

Asharq Al-Awsat

OPEC+ to consider output cut of more than 1 million barrels

The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.

Tribune News Service

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OPEC+ to Hold Oct. 5 Meeting in Person in Vienna

OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some delegations due to the short notice if they are unable to. OPEC+, which combines OPEC countries with allies such as Russia, is…

Asharq Al-Awsat

OPEC+ Has Begun Talks on Output Cut - Source

Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct.

Asharq Al-Awsat

3 Energy Stocks to Buy Right Now if You’re a Long-Term Investor

Russia is likely to propose a significant reduction in output at the next OPEC meeting. Amid the supply crunch, JPMorgan expects Brent to head toward $100 a barrel in the coming months. Hence, fundamentally strong energy stocks Valero Energy Corporation (VLO), Marathon Oil Corporation (MRO), and APA Corporation (APA) might…

StockNews.com

Crude oil prices fall amid recession concerns

PTT reveals Q3 oil analysis

Bangkok Post

The Best Momentum Stock to Buy Before September Ends

Shares of crude oil exploration company Marathon Oil (MRO) have garnered significant investor attention and gained more than 124% over the past year. In addition, the company’s solid financials and profitability make it well-positioned to deliver handsome gains in the near term. Therefore, it could be wise to invest in…

StockNews.com

Cornish finance chief - What will Liz Truss do for us?

Peter McGahan, chief executive of Truro-based independent financial adviser Worldwide Financial Planning asses the potential costs of Prime Minister Liz Truss' policies

Birmingham Post

U.S. does not have infinite patience on renewal of Venezuela talks - official

A U.S. State Department official put pressure on Venezuela leader Nicolas Maduro in a congressional hearing on Thursday, threatening more sanctions if talks with the opposition on resolving the country's long-running political and economic crisis are not renewed.

Reuters

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StockNews.com

4 Energy Stocks You Can Still Buy for Under $20 in 2022

The G7 imposing price cap on Russian oil could raise energy prices in winter. Moreover, the Biden administration is considering refilling its strategic reserves to support prices. And considering OPEC’s upbeat demand outlook, the energy stocks Cenovus Energy (CVE), Birchcliff Energy (BIREF), Amplify Energy (AMPY), and MV Oil (MVO) which…

The New Daily

‘Good deal’: Petrol prices plunge to eight-month low before fuel tax sting

Australian petrol prices have plunged to an eight-month low over the past week, delivering much needed cost of living relief to motorists.

Asharq Al-Awsat

Saudi Energy Minister: OPEC+ Does Not Target Specific Price Range

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that OPEC+ did not target specific prices or price ranges, but rather sought to support market stability and balance supply and demand for the benefit of the petroleum industry. Prince Abdulaziz, who chairs the ministerial committee in the OPEC+ alliance, told an…

The Guardian - UK

Big oil and Opec are holding the world to ransom – it’s time to rein them in

The UN’s call for windfall taxes must be taken up by governments to help break the power of greedy cartels

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Asharq Al-Awsat

Kuwait’s Long-Time Parliament Speaker Bows Out of Sept. Elections

Kuwait's parliament speaker Marzouq al-Ghanim said he would not run in legislative polls this month, a day before the deadline for submission ends. Kuwait will hold early elections on Sept. 29 after the crown prince appointed a new prime minister and dissolved parliament in a bid to resolve the feud…

StockNews.com

3 Energy Stocks That Make Great Buys Even When the Market Swings

The energy sector is facing volatility due to oil price swings amid geopolitical issues. However, oil prices might rise due to potential OPEC output cuts. Hence, investing in energy stocks TotalEnergies (TTE), Valero Energy (VLO), and APA Corporation (APA) might be wise. Read more….

Benzinga

Top Financial Stories Tuesday, September 6: Focus on iPhone 14 Event, OPEC+ Plans Mild Production Cut, Netflix Says No To Crypto Ads And More…

Reuters EQT Corp Close To Buying THQ Appalachia

Evening Standard

FTSE 100 Live: Retail stocks bounce on energy bill hopes, pound steady

Speculation that incoming prime minister Liz Truss is planning a freeze to energy bills lifted retailers and stocks with exposure to the UK economy today.

Asharq Al-Awsat

Oil Prices Ease on OPEC+ Output Cut

Oil prices inched lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to bolster prices after the market's recent slide. Brent crude futures had fallen 81 cents, or 0.9%,…

ABC News

Australian shares drop as the Reserve Bank hikes rates again

It started off optimistically, but the ASX 200 lost ground on Tuesday as the market was hit by another rate hike.

The Independent UK

OPEC+ faces what to do about lower oil prices; drivers cheer

Oil prices are sagging amid fears of recessions across the globe

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