oil prices

OPEC+ meets to review compliance with oil cuts

OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic. OPEC+ is unlikely to change its output policy, …

Oil rises after bigger-than-expected drop in inventories

Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. …

Oil prices snap four-day winning streak

Oil prices fell for the first time in four days on Wednesday, slipping from as much as five-month highs as mounting coronavirus cases worldwide and in the United States undercut market confidence about a potential pickup in fuel demand. …

Saudi Arabia May Be Forced To Cut Oil Prices Once Again

After three consecutive months of raising its crude oil prices, the world’s largest oil exporter, Saudi Arabia, is widely expected to make the first cut to its official selling prices (OSPs) since the OPEC+ group started their record …

Oil falls on fears of glut as OPEC+ set to boost output

Oil prices fell on Monday on oversupply worries as OPEC and its allies are set to wind back output cuts in August and a rise in worldwide COVID-19 cases points to a slower pick-up in demand. Brent crude futures slid 27 cents, or …

Trump thanks Russia for stabilizing oil

U.S. President Donald Trump expressed gratitude to Russia, Saudi Arabia and Mexico for the OPEC + agreement to cut oil output, concluded in April. "When oil crashed, I got Saudi Arabia, Russia, and others to cut nearly 10 …