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The Latest Breaking News from OPEC

Concern About Possible Higher OPEC+ Crude Production Weighs on Crude Prices

June WTI crude oil (CLM24 ) on Tuesday closed down -1.10 (-1.39%), and June RBOB gasoline (RBM24 ) closed down -5.09 (-2.03%). Crude oil and gasoline prices closed moderately lower Tuesday, with gasoline falling to a 2-1/2 month low. Crude prices are under pressure on concern several OPEC+ members may...

Barchart

Crude Prices Undercut by Concern Some OPEC+ Members Want to Boost Production

June WTI crude oil (CLM24 ) this morning is down -1.16 (-1.47%), and June RBOB gasoline (RBM24 ) is down -5.37 (-2.14%). Crude oil and gasoline prices this morning are moderately lower, with gasoline falling to a 2-1/2 month low. Crude prices are under pressure on concern several OPEC+ members...

Barchart

OPEC Maintains Oil Demand Outlook, Anticipates Economic Growth Potential

OPEC remains optimistic about oil demand, highlighting stability and growth opportunities in the energy sector.

Top News

Crude Posts Modest Gains on Dollar Weakness and Strong China Trade News

June WTI crude oil (CLM24 ) on Thursday closed up +0.27 (+0.34%), and June RBOB gasoline (RBM24 ) closed up +1.00 (+0.39%). Crude oil and gasoline prices Thursday posted modest gains. A weaker dollar (DXY00 ) Thursday was bullish for energy prices. Also, better-than-expected Chinese trade news shows strength in...

Barchart

Crude Gains on a Weak Dollar and Positive China Trade News

June WTI crude oil (CLM24 ) this morning is up +0.23 (+0.29%), and June RBOB gasoline (RBM24 ) is up +1.43 (+0.56%). Crude oil and gasoline prices this morning are moderately higher. A weaker dollar (DXY00 ) today is bullish for energy prices. Also, better-than-expected Chinese trade news shows strength...

Barchart

Crude Prices Finish Higher After Weekly EIA Inventories Decline

June WTI crude oil (CLM24 ) on Wednesday closed up +0.61 (+0.78%), and June RBOB gasoline (RBM24 ) closed down -1.16 (-0.462%). Crude oil and gasoline prices Wednesday settled mixed, with gasoline falling to a 2-month low. A stronger dollar on Wednesday was negative for energy prices. Also, a rebound...

Barchart

Crude Recovers Early Losses as Weekly EIA Inventories Decline

June WTI crude oil (CLM24 ) this morning is up +0.45 (+0.57%), and June RBOB gasoline (RBM24 ) is down -2.33 (-0.92%). Crude oil and gasoline prices this morning are mixed, with gasoline falling to a 2-month low. A stronger dollar today is negative for energy prices. Also, a rebound...

Barchart

Crude Prices Fall Slightly on Dollar Strength

June WTI crude oil (CLM24 ) on Tuesday closed down -0.10 (-0.13%), and June RBOB gasoline (RBM24 ) closed down -4.48 (-1.73%). Crude oil and gasoline prices on Tuesday fell to 8-week lows and settled moderately lower. A stronger dollar (DXY00 ) on Tuesday was bearish for energy prices. Crude...

Barchart

Crude Prices Slip as Russia Said OPEC+ is Analyzing a Possible Boost in Output

June WTI crude oil (CLM24 ) this morning is down -0.26 (-0.33%), and June RBOB gasoline (RBM24 ) is down -4.37 (-1.69%). Crude oil and gasoline prices this morning dropped to 8-week lows and are moderately lower. Crude prices are under pressure today after Russian Deputy Prime Minister Novak said...

Barchart

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International Business Times

Saudi Aramco Says Q1 Profit Down 14.5 Percent

Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place.

Barchart

Crude Settles Higher After Saudi Arabia Hikes Oil Prices

June WTI crude oil (CLM24 ) on Monday closed up +0.37 (+0.47%), and June RBOB gasoline (RBM24 ) closed up +3.31 (+1.30%). Crude oil and gasoline prices on Monday settled moderately higher. Sunday's action by Saudi Arabia to raise crude prices for delivery next month for Asian customers signals confidence...

Barchart

Crude Climbs After Saudi Arabia Hikes Oil Prices

June WTI crude oil (CLM24) this morning is up +0.52 (+0.67%), and June RBOB gasoline (RBM24) is up +2.38 (+0.93%). Crude oil and gasoline prices this morning are moderately higher. Sunday's action by Saudi Arabia to raise crude prices for delivery next month for Asian customers signals confidence in global...

StockNews.com

3 Oil & Gas Stocks Poised for May Breakouts

The oil and gas industry looks poised for solid growth this year, as oil prices are expected to be driven by escalating geopolitical tensions, expectations of tightened supplies, and growing global demand. Given this backdrop, investors could consider buying quality oil and gas stocks such as Cheniere Energy Partners (CQP),…

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StockNews.com

May 2024 Energy Stocks Watchlist

Despite concerns over demand and interest rates and the volatile geopolitical landscape impacting oil prices, OPEC projects a surge in fuel consumption for the summer season. Therefore, investors could consider adding fundamentally strong energy stocks Petróleo Brasileiro (PBR), APA Corp. (APA), and Forum Energy (FET) to their watchlists. Keep reading….

Barchart

Crude Prices Slip as Geopolitical Tensions Ease

June WTI crude oil (CLM24 ) this morning is down -0.40 (-0.51%), and June RBOB gasoline (RBM24 ) is down -3.06 (-1.18%). Crude oil and gasoline prices this morning are moderately lower and dropped to 1-1/2 month lows. Improved prospects for a cease-fire in the Israeli-Hamas war have curbed geopolitical...

Top News

FTC Alleges Oil CEO Colluded With OPEC To Inflate Prices

FTC alleges former oil CEO colluded with OPEC to inflate prices, raising concerns about anticompetitive behavior and consumer impact.

WEKU

FTC bars former Pioneer CEO in Exxon Mobil deal, saying he colluded with OPEC

Exxon Mobil's $60 billion deal to buy Pioneer Natural Resources received federal clearance, but former Pioneer CEO Scott Sheffield was barred from joining the new company's board of directors.

Barchart

Crude Prices Close Slightly Lower on Hopes for Reduced Middle East Tensions

June WTI crude oil (CLM24 ) on Thursday closed down -0.05 (-0.06%), and June RBOB gasoline (RBM24) closed +1.91 (+0.74%). Crude oil and gasoline prices settled mixed on Thursday, with crude posting a new 1-1/2 month low. Crude prices are under pressure due to the potential for a cease-fire between...

International Business Times

US Clears ExxonMobil Deal, Bars Pioneer Ex-chief From Board

US antitrust authorities cleared ExxonMobil's acquisition of Pioneer Natural Resources under the condition that the shale producer's former CEO be barred from the company's board, regulators announced Thursday.

Barchart

Crude Prices Under Pressure on Reduced Geopolitical Risks and a US Inventory Glut

June WTI crude oil (CLM24 ) this morning is down -0.49 (-0.62%), and June RBOB gasoline (RBM24 ) is down -0.63 (-0.24%). Crude oil and gasoline prices today extended Wednesday's loss and posted new 1-1/2 month lows. Crude prices are under pressure due to the potential for a cease-fire between...

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