The Latest Breaking News from OPEC

‘Double whammy’: Petrol prices to surge as global oil rebounds before tax relief ends

Australians are being warned to brace for higher fuel costs in September as rising global oil prices flow through to local petrol bowsers.

The New Daily · Aug 30, 2022

ASX recovers as Woodside profit and oil prices surge, but Wall Street sell-off intensifies

Australian shares claw back some of yesterday's heavy losses despite another slump in global markets over the possibility of more aggressive US and European interest rate hikes ahead.

ABC News · Aug 29, 2022

This ETF Is a “Buy” as Energy Sector Surges

OPEC recently announced its supply cut plans, boosting the energy sector. As energy prices could soar again, the ETF Energy Select Sector SPDR Fund (XLE), which is rated Buy in our proprietary rating system, might be worth your attention. Read on….

StockNews.com · Aug 29, 2022

Will Joe Biden’s gamble on big oil pay off in leveling gas prices?

After begging the industry to increase supply, the White House used its reserve to strategically set fuel prices

The Guardian - US · Aug 27, 2022

Oil Prices Rise on Potential OPEC+ Supply Cuts

Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a US refinery. Brent crude rose 59 cents, or 0.6%, to $101.81 a barrel by 0400 GMT, while US West Texas Intermediate…

Asharq Al-Awsat · Aug 25, 2022

How much longer can we tolerate this price-gouging racket of an energy sector?

We are all footing the bill of a crooked system that drains our bank balances and heats the planet, says Damian Carrington, the Guardian’s environment editor

The Guardian - UK · Aug 25, 2022

Felixstowe port disruption ‘could continue until Christmas’ says union – as it happened

Disruption at the UK’s largest container port could escalate until Christmas unless workers are given an improved pay offer, Unite boss says

The Guardian - UK · Aug 24, 2022

Oil Slips as Fears of Imminent OPEC+ Output Cut Fade

Oil prices fell on Wednesday, taking a breather from a near 4% surge the previous day, on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+. Global benchmark Brent crude futures fell 40 cents, or 0.4%, to…

Asharq Al-Awsat · Aug 24, 2022

2 Oil Stocks Investors Might Want to Load up on This Fall

Gas-to-oil switching and soaring oil use for power generation are boosting oil demand. Moreover, OPEC might be planning a supply cut, which should drive prices higher. So, we think it could be wise to load up on oil stocks Marathon Oil (MRO) and Murphy Oil (MUR) this fall. Read more….

StockNews.com · Aug 23, 2022

Saudi Energy Minister: Soon We Will Start Working on New OPEC+ Deal

Saudi Energy Minister Prince Abdulaziz bin Salman has said a new deal between OPEC+ partners beyond 2022 would be agreed. “The paper and physical markets have become increasingly more disconnected,” he said in response to written questions from Bloomberg News. "Soon we will start working on a new agreement beyond…

Asharq Al-Awsat · Aug 22, 2022