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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?

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.

The Business Times · 53m

Oil prices up; strong demand outweighs surprisingly big Opec+ output hike

HOUSTON] Oil prices rose nearly 2 per cent on Monday as signs of strong demand more than offset the impact of a higher-than-expected Opec+ output hike for August and fresh concerns about the potential impact of US tariffs.

9hon 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 ...

6hon MSN

Oil rises as strong demand offsets big OPEC+ output hike

Oil rose 1% on Monday as signs of strong demand outweighed the impact of OPEC+ hiking output more than expected for August, ...

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 ...

8h

Russia’s Crude Production Stayed Below OPEC+ Target in June

Russia’s oil data show crude output was below its OPEC+ target in June, according to people familiar with the figures.

17hon 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.

OPEC Reports a Global Oil Production Decline in 2024

Global oil production fell by 1% in 2024 while demand continued to grow, widening the supply gap, OPEC reported.

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 ...

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