The Latest Breaking News from OPEC

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

Oil Climbs on Prospect of OPEC Supply Cut, Demand Growth

Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe, helped offset a dire outlook for US growth. US West Texas Intermediate (WTI) crude futures jumped $1.09,…

Asharq Al-Awsat · Aug 29, 2022

Clashes in Libyan capital kill 13, stoking fears of war’s return

Clashes between militias in Libya’s capital left at least 13 people dead, sparking concern the OPEC nation that has two rival governments is descending into another full-blown conflict.

Tribune News Service · Aug 27, 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

Your price at the pump went up. So did Saudi Aramco's profits — to a new record

Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion.

WEKU · Aug 14, 2022

Saudi Arabia: Stability of Oil Market Pivotal to Kingdom’s Energy Strategy

The Saudi government stressed on Tuesday the great need to commit to oil production in line with the agreements reached by OPEC and OPEC+. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Jeddah. The government tackled the outcomes of 31st…

Asharq Al-Awsat · Aug 9, 2022