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OPEC+ is pumping more oil

OPEC+ is pumping more oil, but is it needed and at what price?

Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce?

The New York Times · 2d

OPEC Plus Agrees to Pump More Oil in August

The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts expected and could lead to lower oil prices.

AOL · 13h

Oil prices expected to drop below $60 on increasing OPEC+ supply

Wall Street analysts predict oil futures will fall below $60 per barrel by the end of the year as the Organization of the Petroleum Exporting Countries (OPEC) and its allies boost output.

Oil Pares Losses

The Wall Street Journal on MSN · 4h

Oil Pares Losses as Market Shrugs off Larger OPEC+ Output Hike

Despite concerns over excess supply, oil prices overturned declines from earlier in Monday’s session, as downside risks appeared contained.

OilPrice.com · 19h

OPEC+ to Complete Unwinding of Oil Output Cuts With Big September Hike

OPEC+ is accelerating its oil production increases, aiming to fully unwind its 2023 supply cuts by September, risking an oversupplied market and pressuring U.S. shale producers.

Reuters · 3d

OPEC oil output rises in June on Saudi and UAE hikes, Reuters survey finds

OPEC oil output rose in June, a Reuters survey found, led by Saudi Arabia after an OPEC+ agreement to raise production, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction.

19hon MSN

Exxon, Chevron, Shell, BP Stocks Fall. OPEC Oil Plans, Gas Trading Fears Are Biting.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of ...

Money Talks News on MSN16h

Fill up for Less? OPEC’s Oil Shift Could Open a Summer Window

Learn why this moment matters for your gas spending and how smart planning can turn it into longer-term savings.

1don MSN

Summer gas prices are headed even lower, as Saudi Arabia accepts the 'lesser evil' of cheap oil

OPEC+ jolted markets by announcing it would flood the market with more oil.

2don MSN

OPEC+ to boost oil production by 548,000 barrels per day in August

Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further reduce gas prices.

2don MSN

Trade deadlines and oil drama set the stage for a crunch week in global markets

Another assignment that is much more definitive: the OPEC Seminar. The circus rolls back into Vienna as the oil producers' ...

Crude oil price today: WTI price bearish at European opening

AUD/USD consolidates latest gains below 0.6550 as RBA Governor Bullock's press conference gets underway early Tuesday. The Aussie's uptick was driven by the RBA's surprise policy decision. The RBA ...

OilPrice.com15hOpinion

OPEC Production Increase Misguides Markets

Doomsday scenarios about peaking demand or an Asian market implosion are driving current bearish oil views. While OPEC has ...

The Business Times1d

Opec’s new supply shock nails on oil market’s return to surplus

NEW YORK] The latest oil supply shockwave unleashed by Organization of the Petroleum Exporting Countries and its partners ...

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