OPEC

Seven OPEC+ producers said on Sunday they will dial back part of their extra voluntary cuts by 188,000 barrels per day starting in June 2026, framing the move as a calibrated step aimed at keeping the oil market steady. The decision lands as the United Arab Emirates announced it will withdraw from...

UAE's withdrawal from OPEC and OPEC+ could lead to higher oil production from member countries and potentially drive global oil prices lower, according to Russian Finance Minister Anton Siluanov. Siluanov said the UAE's move would allow it to produce oil up to its full capacity and supply it freely...

Investor Ross Gerber, co-founder of investment firm Gerber Kawasaki, said on Tuesday that the world should move on from oil, as the UAE announced its exit from the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+. Death Blow To Oil In a post on X, Gerber shared his thoughts,...

The United Arab Emirates (UAE) announced on Tuesday that it will exit the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, effective from May 1. In a statement, the UAE’s energy ministry said the decision reflects its long-term strategic energy vision, rising domestic...

Kuwait, a key member of the Organization of the Petroleum Exporting Countries (OPEC), has reportedly started scaling back production at some of its oil fields due to a lack of storage space for its crude. Kuwait Scales Back Oil Production Amid Storage Crunch The Wall Street Journal,...

President Donald Trump has put a stop to the flow of Venezuelan oil and financial aid to Cuba, urging Havana to negotiate a deal with Washington. Trump’s move comes amidst escalating tensions between the U.S. and Cuba, a long-standing adversary. Venezuela, which is Cuba’s primary oil...

Tariffs introduced on the so-called “Liberation Day” and OPEC+ production hikes have "pulled the rug out" from under Halliburton Co (NSE: HAL), according to Piper Sandler. For more information on the best Oil ETFs, click here. The Halliburton Analyst: Analyst Derek Podhaizer...

A quiet storm is brewing in the energy markets, and diesel is right in the middle of it. According to Bloomberg, European sanctions are tightening the noose around Russian refined fuels and global diesel stocks appear to grow ever more threadbare; oil prices are up slightly, putting energy ETFs...

During the pre-market trading session on Monday, Shell PLC (NYSE:SHELL) and Occidental Petroleum Corp (NYSE:OXY) climbed 1.75% and 1.41%, respectively, whereas Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX) climbed 0.88% and 0.85%, each oil prices witnessed more than 3% surge on Monday....

If you have been around the energy markets long enough, you know crude oil has a flair for the dramatic. When it sells off, it does not just trickle down; it falls off a cliff. The rebound is vicious, fast and usually overdue when it finally wakes up. The trick, as always, is understanding the...

Brent crude prices rose over the $65-per-barrel level on Monday before retreating slightly, supported by changing geopolitical currents and guarded optimism in the equity markets. The rally in Brent crude, triggered by renewed US-Iran diplomacy and a partial lull in trade war hostilities, brought...

After having cut its oil forecasts twice in less than a week, analysts at Goldman Sachs cut their annual forecasts for Brent and West Texas Intermediate Crude for 2025 and 2026 yet again, warning of a worst-case scenario involving a tariff-driven global recession and higher supply by the OPEC+...

The Organization of Petroleum Exporting Countries (OPEC) has once again revised its oil demand growth forecasts for 2024, marking the fourth consecutive month of downward adjustments. This move reflects the ongoing economic slowdown in China, a key player in the global oil market. What Happened:...

Oil prices continue to rise on Wednesday, adding to gains driven by potential supply disruptions in the Middle East and fresh warnings out of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+. What To Know: Prince Abdulaziz bin Salman, the oil minister of Saudi...

Former President Donald Trump accused the Organization of the Petroleum Exporting Countries (OPEC) of deliberately driving down oil prices to benefit Vice President Kamala Harris, warning that her potential presidency could be a “disaster” for the U.S. What Happened: Trump took to his...