Tag: OPEC+

OPEC+ Approves 137,000-Barrel Output Hike as Oil Prices Slide on Oversupply Fears

Oil Prices Head for Sharpest Decline in Four Months as OPEC+ Considers New Output Hike

OPEC+ Increases Output in July, But Misses Target Amid Saudi Supply Discrepancy

Goldman Sachs maintains its Brent crude oil price forecast at $64 for Q4.

OPEC+ Nations Agree to Ease Production Cuts in September Amid Stable Oil Market Conditions

Oil prices hold steady as traders weigh OPEC+ output increases, U.S. stockpile data

A coming supply surplus and slowing global oil demand are expected to hobble U.S. crude oil production growth later this year, potentially leading to an annual decline in output by ...

The decision, confirmed during OPEC+’s latest meeting, signals a shift in strategy amid concerns over weak oil prices and slowing global demand.

However, the decision has sent oil prices tumbling, exacerbating fears of a potential recession fueled by ongoing trade disputes.

“Expectations of progress in peace negotiations between Russia and Ukraine and a potential easing of U.S. sanctions on Russian oil pressured prices lower.”