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The Latest Breaking News from OPEC

Strategic oil reserve buying set to support crude demand through 2028

To enhance energy security and stabilize market prices, various governments plan to acquire millions of oil barrels up to 2028. This approach seeks to mitigate the global supply surplus anticipated from OPEC+ production hikes.

The Economic Times

Current price of oil as of July 9, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Surge as Geopolitical Risks Intensify

August WTI crude oil (CLQ26 ) on Wednesday closed up +3.08 (+4.37%), and August RBOB gasoline (RBQ26 ) closed up +0.1495 (+5.06%). Crude oil and gasoline prices settled sharply higher on Wednesday, with crude rising to a 2-week high and gasoline climbing to a 1-month high. Crude prices are soaring...

Barchart

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Crude Oil Prices Soar on Escalation of US-Iran Hostilities

August WTI crude oil (CLQ26 ) today closed up +5.23 (+7.41%), and August RBOB gasoline (RBQ26 ) is up +0.1956 (+6.62%). Crude oil and gasoline prices are surging today, with crude rising to a 2-week high and gasoline climbing to a 1-month high. Crude prices are soaring amid escalation of...

Barchart

Current price of oil as of July 8, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Crude Oil Prices Sharply Higher on Supply Disruptions

August WTI crude oil (CLQ26 ) on Tuesday closed up +1.89 (+2.76%), and August RBOB gasoline (RBQ26 ) closed down -0.0494 (-1.64%). Crude oil and gasoline prices settled mixed on Tuesday. Crude oil prices jumped following attacks on shipping in and around the Strait of Hormuz. Gasoline prices retreated on...

Barchart

Crude Oil Prices Jump as Ships Attacked in the Strait of Hormuz

August WTI crude oil (CLQ26 ) today is up +1.73 (+2.52%), and August RBOB gasoline (RBQ26 ) is down -0.0312 (-1.04%). Crude oil and gasoline prices are mixed today. Crude oil prices jumped following attacks on shipping in and around the Strait of Hormuz. Gasoline prices are sliding today as...

Barchart

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Current price of oil as of July 7, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

OPEC+ to pump more oil as market fears shift from shortage to glut

OPEC+ is opening the taps again, extending its production increases as Gulf oil flows recover and prices cool. But with supply rising faster than demand, fears of a global glut are mounting

Fortune

Analyst Says This Is Why Global Oil Prices Are Rising Amid OPEC+ Agreement: It Has All to Do With Refineries

GasBuddy analyst Patrick De Haan said that global oil prices were rising as limited refinery capacity across the globe could lead to supply issues.

Benzinga

The likely loser in Gulf's post-war race for oil market share

United Arab Emirates is leading oil producers in a fierce market share battle. Saudi Arabia and other Gulf nations are increasing exports significantly. Exporters are offering steep discounts to attract buyers for their surplus crude. This aggressive push has weakened oil prices and challenged OPEC's authority.

The Economic Times

OPEC raises output but cartel's future remains unsure

A handful of OPEC+ countries have agreed to increase their output targets from August, but the cartel is fighting for its survival after the UAE's departure. Also, A French company is using the River Seine to cool down Paris's buildings. Finally, Sky says it's buying ITV's broadcast channels and streaming…

France 24

Crude Oil Prices Pressured as Global Supplies Rebound

August WTI crude oil (CLQ26 ) on Monday closed down -0.14 (-0.20%), and August RBOB gasoline (RBQ26 ) closed up +0.0860 (+2.95%). Crude oil and gasoline prices settled mixed on Monday, with gasoline posting a 3-week high. Crude oil was under pressure on Monday as flows through the Strait of...

Barchart

Crude Oil Prices Recover as the Crack Spread Soars

August WTI crude oil (CLQ26 ) today is up +0.23 (+0.33%), and August RBOB gasoline (RBQ26 ) is up +0.1010 (+3.46%). Crude oil and gasoline prices erased early losses and moved higher today, with gasoline posting a 3-week high. Short covering emerged in crude oil prices today after the crude...

Barchart

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news in one place.

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Fortune

Current price of oil as of July 6, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Euronews

OPEC+ agrees another modest output rise as oil prices fall back to pre-war levels

Seven countries in the OPEC+ alliance agreed to lift their combined oil output by a modest 188,000 barrels per day in August, adding supply just as crude prices slide back to levels not seen since before the Iran war erupted.

International Business Times UK

OPEC+ Approves August Oil Output Increase While Warning It May Reverse Course

OPEC+ will increase oil production by 188,000 barrels daily from August, continuing to adjust output based on market conditions. Future production changes remain flexible, with monthly reviews planned.

The Independent UK

US futures and Asian shares are mixed while oil prices decline as some exporters opt to raise output

Asian shares and U.S. futures are mixed following a long weekend on Wall Street

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The Independent UK

Iran-US war latest: Khamenei’s funeral procession begins in Tehran as mourners threaten Trump

Thousands gathered to mourn Khamenei as Trump boasts ‘one shot’ could take all the regime’s leaders ‘out’

The Economic Times

Oil Price Today (July 6): Crude oil extends fall, hovers below $72. Here are 2 major reasons for the decline

Brent crude futures slipped 24 cents, or 0.e33%, to $71.88 a barrel. U.S. West Texas Intermediate crude fell 11 cents, or 0.16%, to $68.58 a barrel. WTI did not settle on Friday as U.S. markets remained closed ahead of the Independence Day holiday on Saturday.

The Economic Times

OPEC+ to boost crude output, but can it deliver and who will buy?

OPEC+ has boosted oil production quotas for the fifth consecutive month, raising questions about shipping capacity and buyer demand. While Middle East exports are recovering post-conflict, they remain below pre-war levels. The market anticipates a return to oversupply, contingent on stable shipping routes and China's re-entry into the market, which…

The Economic Times

Oil slips after OPEC+ agrees to raise output targets

Oil prices dipped as OPEC+ agreed to boost output from August, with key producers seeing recovering exports via the Strait of Hormuz. Despite the planned increase, actual output may be capped due to ongoing geopolitical tensions. Gulf oil exports are reviving but still lag pre-conflict levels, while Russia's crude shipments…

The Independent UK

7 OPEC+ countries agree to expand monthly oil production modestly as prices slide

A handful of countries in the OPEC+ oil-producing alliance are planning to increase their outputs modestly next month

International Business Times

OPEC+ Raises Output Target For August. Smooth Sailing Seen For Oil Price Trajectory

OPEC+ has agreed to a provide a significant boost to oil output by raising targets from August aimed to further add to global oil supplies after the Middle East conflict spurred prices to as high as $120 a barrel.

Benzinga

OPEC+ Agrees To Raise Output Even as Hormuz Shipping Security Remains Uncertain

OPEC+ members agreed to raise their collective oil‑production quotas from August even as crude shipments through the Strait of Hormuz remain uncertain.

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