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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 (Opec+) is set to swell a surplus later this year, pressuring prices for producers the world over while answering US President Donald Trump’s calls for lower fuel costs.
The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of ...
Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the ...
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OPEC+ jolted markets by announcing it would flood the market with more oil.
The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts ...
The Organization of the Petroleum Exporting Countries and its allies agreed to boost output again next month by larger than ...
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Markets reacted cautiously as U.S. trade policies remained uncertain, with President Trump planning tariff hikes. OPEC+ ...
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.
Goldman Sachs commodity analysts are sticking to their forecast for Brent to average $59 a barrel by the fourth quarter of this year and $56 in 2026, following a bigger-than-expected production rise ...
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