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OPEC+ is pumping more oil

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.

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?

UPI on MSN · 2d

OPEC+ to boost crude oil production in August

The eight OPEC+ nations on Saturday agreed to increase their crude oil production by 548,000 barrels per day starting in August.

7hon 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 ...

4h

Oil Edges Up as Saudis Bet Market Can Absorb OPEC+ Output Hike

Oil crept higher as Saudi Arabia surprised customers in Asia by hiking prices for its main crude grade, signaling a vote of ...

CNA29m

Oil shrugs off OPEC+'s bigger hike as tight market provides support

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the ...

1d

OPEC’s new supply shock locks in oil market's return to surplus

The latest oil supply shockwave unleashed by OPEC+ is set to swell a surplus later this year, pressuring prices for producers ...

29mon MSN

Oil pares loss as tight market offsets OPEC+'s bigger hike

Oil pared losses on Monday as a tight physical oil market offset the impact of OPEC+ hiking oil output more than expected in ...

14hon 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.

1d

Oil News: Will OPEC Production Surge Sink Crude Oil Futures This Week?

Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of ...

ABP News on MSN3h

Oil Prices Fall As OPEC+ Surprises Market With Bigger August Output Hike

OPEC+ attributed the production hike to steady global economic conditions and strong market fundamentals, pointing to low ...

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