The Latest Breaking News from OPEC

August WTI crude oil (CLQ23 ) this morning is up +2.01 (+2.88%), and Aug RBOB gasoline (RBQ23 ) is up +6.34 (+2.57%). Crude oil and gasoline prices this morning are sharply higher, with crude posting a 1-1/2 week high. The outlook for tighter global crude supplies is pushing prices higher...

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European…

August WTI crude oil (CLQ23 ) Monday closed +0.21 (+0.30%), and Aug RBOB gasoline (RBQ23 ) closed up +1..82 (+0.75%). Crude oil and gasoline prices Monday closed mildly higher on weakness in the dollar index and the brief weekend insurrection by the Wagner Group, which initially sparked some concern about...

August WTI crude oil (CLQ23 ) today is up +0.14 (+0.20%), and Aug RBOB gasoline (RBQ23 ) is up +0.0012 (+0.05%). Crude oil and gasoline prices today are mildly higher on weakness in the dollar index and the brief weekend insurrection by the Wagner Group, which initially sparked some concern...

The energy sector’s outlook looks bright as high oil demand primarily from China and constrained supplies as Saudi announced further output cuts could drive oil and gas prices higher this year. So, let’s find out why Energy Transfer (ET), Cheniere Energy (LNG), and Weatherford (WFRD) are attracting significant investors’ attention…

This year’s budget is Iraq’s largest at 198.9 trillion dinars ($153bn) with the same allocated for 2024 and 2025.

July WTI crude oil (CLN23 ) on Tuesday closed up +2.30 (+3.43%), and July RBOB gasoline (RBN23 ) closed up +7.53 (+3.03%). Crude oil and gasoline prices Tuesday rallied sharply. A slump in the dollar index Tuesday to a 3-week low was bullish for energy prices. Also, the outlook for...

This week is packed with news and events. The FOMC is the big one of the week, but we also have CPI, PPI, Bond Auctions, Oil Reserves (which may be important with the OPEC cut), and plenty of other big news.

July WTI crude oil (CLN23 ) on Friday closed down -1.12 (-1.57%), and July RBOB gasoline (RBN23 ) closed down -1.95 (-0.75%). Crude oil and gasoline prices Friday posted moderate losses. A stronger dollar Friday undercut energy prices. Also, concern about weakness in China's energy demand is bearish for crude...