The Latest Breaking News from Oil

The group of oil producers known as OPEC+ say they will slash their daily output by 2 million barrels per day because of uncertainty in the global outlook. The decision has been slammed by the US, which had been lobbying for Saudi Arabia and other producers to pump more oil.…

Russia’s declaration that four areas of occupied Ukraine are now its territory has been condemned by the international community

The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices. Energy ministers cut production by 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of…

OPEC+ agreed to cut its collective output limit by 2 million barrels day, stoking tensions with the U.S. as the cartel seeks to halt a slide in oil prices caused by the weakening global economy.

U.S. stocks extended losses midway through trading, with the Nasdaq Composite dropping more than 200 points on Wednesday.

Saudi Arabia snubs Biden by advocating OPEC cut oil production by 2 million barrels per day.

The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

As Californians look down the barrel of gasoline prices just cents away from hitting another all-time record, Gov. Gavin Newsom is quick to blame the oil industry for “ripping you off.” But even as Sacramento considers levying a punitive tax on oil companies, experts say state regulators have woefully little…

The duo reportedly brought the substance from Andhra Pradesh