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The Latest Breaking News from OPEC

OPEC+ Extends Oil Output Cuts To Late 2026: What It Means For Markets

The OPEC+ group extends production cuts until 2026, with gradual increases and extended compensation period. Analysts view this as cautious market management.

Benzinga

OPEC+ Considers Delaying Oil Production Increase Amid Stagnant Demand

OPEC+ alliance weighs delaying oil production increase amid sluggish demand and competition, impacting global oil prices and U.S. gasoline costs.

Top News

OPEC+ oil alliance faces stagnant prices for crude while US drivers enjoy cheaper gasoline

The OPEC+ alliance of oil exporting countries is deciding on whether to produce more crude as members face sluggish demand and competing production from non-allied countries, factors that could keep oil prices stagnant into next year

The Independent UK

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OPEC+ Expected To Extend Oil Supply Cuts

The OPEC oil cartel and its allies are expected Thursday to extend their supply cuts to avoid a sharp drop in prices in a global market awash in crude.

International Business Times

Crude Prices Tumble on US Energy Demand Concerns

January WTI crude oil (CLF25 ) Wednesday closed down -1.40 (-2.00%), and January RBOB gasoline (RBF25 ) closed down -0.0233 (-1.19%). Crude oil and gasoline prices Wednesday gave up an early advance and settled moderately lower. Weaker than expected US economic news Wednesday on Nov ADP employment and Nov ISM...

Barchart

Crude Prices Slip on Weak US Economic News

January WTI crude oil (CLF25 ) today is down -0.41 (-0.59%), and January RBOB gasoline (RBF25 ) is up +0.0017 (+0029%). Crude oil and gasoline prices today are mixed. Softer than expected US economic news today on Nov ADP employment and Nov ISM services is negative for energy demand and...

Barchart

Crude Oil Rises on Dollar Weakness and Iran Crude Sanctions

January WTI crude oil (CLF25 ) Tuesday closed up +1.84 (+2.70%), and January RBOB gasoline (RBF25 ) closed up +0.0452 (+2.36%). Crude oil and gasoline prices on Tuesday pushed moderately higher due to a weaker dollar. Crude extended its gains Tuesday after the US imposed more sanctions on Iranian crude,...

Barchart

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Crude Prices Jump on Dollar Weakness and Additional US Sanctions on Iran

January WTI crude oil (CLF25 ) today is up +1.54 (+2.26%), and January RBOB gasoline (RBF25 ) is up +0.0396 (+2.07%). Crude oil and gasoline prices today are climbing due to a weaker dollar. Crude extended its gains today after the US imposed more sanctions on Iranian crude, curbing global...

Barchart

Asia And Europe Markets Gain; Oil Rises Ahead of OPEC+ Meeting - Global Markets Today While US Slept

Economic data shows mixed U.S. market close, construction spending up, ISM manufacturing PMI surpasses expectations. Most S&P 500 sectors decline, Dow falls. Asian markets up.

Benzinga

Gas Prices Fall For 7th Straight Week To $3 Per Gallon, Reaching 2021 Levels

The national average price of gas has fallen for the seventh straight week to $3 per gallon, the lowest level since May 2021. The price of gas has fallen slightly, 0.6 cents from last week, and is 23.2 cents lower than a year ago.

Benzinga

Crude Gives Up Early Gains and Closes Lower on Weak Chinese Energy Demand

January WTI crude oil (CLF25 ) Friday closed down -0.72 (-1.05%), and January RBOB gasoline (RBF25 ) closed down -0.0296 (-1.53%). Crude oil and gasoline prices on Friday gave up early gains and settled moderately lower, with crude posting a 1-1/2 week low and gasoline dropping to a 2-month low....

Barchart

Crude Prices Gain on Dollar Weakness and Prospects for OPEC+ to Delay Production Cuts

January WTI crude oil (CLF25 ) today is up +0.73 (+1.06%), and January RBOB gasoline (RBF25 ) is up +0.0172 (+0.89%). Crude oil and gasoline prices today are moderately higher. Today's decline in the dollar index (DXY00 ) to a 2-1/2 week low is bullish for energy prices. Also, expectations...

Barchart

OPEC+ Postpones Meeting On Oil Output To December 5

The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output.

International Business Times

Crude Prices Pressured as Middle East Tensions Ease

January WTI crude oil (CLF25 ) Wednesday closed down -0.05 (-0.07%), and January RBOB gasoline (RBF25 ) closed down -0.0201 (-1.03%). Crude oil and gasoline prices Wednesday settled lower, with gasoline posting a 1-week low. Crude oil was under pressure Wednesday from an easing of geopolitical risks in the Middle...

Barchart

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Barchart

Crude Little Changed as Middle East Tensions Ease

January WTI crude oil (CLF25 ) today is up +0.03 (+0.04%), and January RBOB gasoline (RBF25 ) is down -0.0203 (-1.04%). Crude oil and gasoline prices today are mixed, with gasoline falling to a -week low. Today's dollar weakness is supportive of energy prices. Also, expectations that OPEC+ will delay...

Barchart

Prospects for an Israel-Hezbollah Cease-Fire Weigh on Crude Prices

January WTI crude oil (CLF25 ) Tuesday closed down -0.17 (-0.25%), and January RBOB gasoline (RBF25 ) closed down -0.0027 (-0.14%). Crude oil and gasoline prices Tuesday gave up an early advance and fell to 1-week lows on a report that US President Biden will announce that Israel and Hezbollah...

Barchart

Crude Prices Climb as OPEC+ Set to Delay Oil Production Increases

January WTI crude oil (CLF25 ) today is up +0.64 (+0.93%), and January RBOB gasoline (RBF25 ) is up +0.0231 (+1.18%). Crude oil and gasoline prices today recovered from early losses and moved higher after Bloomberg reported that OPEC+ had begun discussions to delay oil production further increases initially set...

Barchart

Crude Settles Higher as EIA Gasoline and Distillate Inventories Fall

December WTI crude oil (CLZ24 ) Thursday closed up +0.27 (+0.39%), and December RBOB gasoline (RBZ24 ) closed up +0.0166 (+0.84%). Crude oil and gasoline prices on Thursday posted moderate gains after weekly EIA gasoline and distillate supplies unexpectedly declined, a sign of stronger fuel demand. Gains in crude were...

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Barchart

Crude Gains as Weekly EIA Gasoline and Distillate Supplies Decline

December WTI crude oil (CLZ24 ) today is up +0.18 (+0.26%), and December RBOB gasoline (RBZ24 ) is up +0.0200 (+1.02%). Crude oil and gasoline prices today are moderately higher after weekly EIA gasoline and distillate supplies unexpectedly declined, a sign of stronger fuel demand. Gains in crude are limited...

Barchart

Crude Closes Higher on Signs of Cooperation Among Major OPEC+ Producers

December WTI crude oil (CLZ24 ) Wednesday closed up +0.31 (+0.46%), and December RBOB gasoline (RBZ24 ) closed up +0.0008 (+0.04%). Crude oil and gasoline prices recovered from 2-week lows and settled slightly higher on Wednesday. Short covering emerged in crude Wednesday after Russian President Putin and Saudi Crown Prince...

Barchart

Crude Rebounds on Comments of OPEC+ Cooperation

December WTI crude oil (CLZ24 ) today is up +0.35 (+0.51%), and December RBOB gasoline (RBZ24 ) is up +0.0006 (+0.03%). Crude oil and gasoline prices today recovered from 2-week lows and are slightly higher. Short covering emerged in crude today after Russian President Putin and Saudi Crown Prince Mohammed...

Barchart

Crude Recovers on Short Covering as US Crude Production Falls

December WTI crude oil (CLZ24 ) Tuesday closed up +0.08 (+0.12%), and December RBOB gasoline (RBZ24 ) closed up +0.0073 (+0.37%). Crude oil and gasoline prices Tuesday recovered from 1-1/2 week lows and closed slightly higher. Mild short-covering emerged in crude oil Tuesday after the Bureau of Safety and Environmental...

Barchart

Crude Oil Pressured by a Stronger Dollar and Global Energy Demand Concerns

December WTI crude oil (CLZ24 ) today is down -0.11 (-0.16%), and December RBOB gasoline (RBZ24 ) is up +0.0023 (+0.12%). Crude oil and gasoline prices today fell to 1-1/2 week lows and are mixed. Today's rally in the dollar index (DXY00 ) to a 4-1/4 month high weighs energy...

The Guardian - UK

UK grocery inflation picks up to 2.3%; unemployment rises while regular wage growth slows – as it happened

Consumers started their Christmas shopping early, Kantar says; UK jobless rate rises to 4.3% while wage growth excluding bonuses is at a two-year low

Barchart

Crude Closes Lower On China Energy Demand Woes

December WTI crude oil (CLZ24 ) Friday closed down -1.98 (-2.74%), and December RBOB gasoline (RBZ24 ) closed down -0.0411 (-2.00%). Crude oil and gasoline prices Friday were under pressure after Chinese stimulus measures were seen as underwhelming, which may keep Chinese economic growth and energy demand subdued. Also, Friday's...

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