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The Latest Breaking News on Crude Prices Slip on Stronger Dollar and Weak Economic News

Crude Prices Slip on Stronger Dollar and Weak Economic News

July WTI crude oil (CLN23) on Tuesday closed down -0.41 (-0.57%), and July RBOB gasoline (RBN23) closed up +3.99 (+1.58%). Crude oil and gasoline prices Tuesday settled mixed. A stronger dollar Tuesday weighed on crude prices. Crude was also under pressure from concerns that a slowdown in the global economy...

Barchart

No Surprise as OPEC+ Trims Production

OPEC, the international oil cartel, meets twice yearly in a formal gathering in Vienna, Austria. The members convene to debate and decide on petroleum production policy for the coming months to balance supply and demand at a price that delivers the most attractive return for oil-producing countries and traditional energy…

Barchart

3 Energy Stocks to Add to Your Watchlist

The energy sector is expected to remain robust amid solid demand and the emergence of new oil and gas ventures. Hence, I think fundamentally strong Energy Transfer (ET), Valero Energy (VLO), and World Fuel Services (INT) could be ideal additions to your watchlist. Keep reading.

StockNews.com

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OPEC+ -- No Surprise as the Cartel Trims Production

Barchart

Crude Prices Find Support as Saudi Arabia Cuts Crude Production

July WTI crude oil (CLN23 ) on Monday closed up +0.41 (+0.57%), and July RBOB gasoline (RBN23 ) closed up +2.37 (+0.95%). Crude oil and gasoline prices Monday posted moderate gains, with crude climbing to a 1-month high. Crude prices rallied Monday after Saudi Arabia said it would cut its...

Barchart

Eye on oil: on oil prices and India

The softening in crude oil purchase prices has not percolated to the Indian consumer

The Hindu

3 Energy Stocks Poised for Growth

The energy sector is well-positioned to witness significant growth this year due to the oil price tailwinds from supply cuts. Given this backdrop, quality energy stocks Weatherford International (WFRD), Euronav (EURN), and North European Oil Royalty Trust (NRT), which look poised for growth, could be wise portfolio additions now. Read…

StockNews.com

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Oil Prices Jump As Saudi Arabia Rattles Short Sellers

Oil prices popped Monday following Saudi Arabia's decision to cut oil production.

Investors Business Daily

Oil Prices Leap As Saudi Arabia Unveils Lollipop to OPEC Production Cuts

"This is a Saudi lollipop," Saudi Energy Minister Prince Abdulaziz called the Kingdom's production cuts a "Saudi lollipop" that would "ice the cake of OPEC's efforts to stabilize global crude markets.

The Street

Brent crude price rises after Saudi Arabia agrees to cut oil output

Price gained more than 2% on Monday morning to touch one-month high of $78.73

The Guardian - UK

Saudi Arabia slashes output further to boost oil price

VIENNA - Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

Bangkok Post

Oil Nudged Higher by Saudi Surprise Cut as Traders Wait and See

Oil inched higher as Saudi Arabia’s go-it-alone production cuts were offset by broader risk-off sentiment and traders waiting to see if cuts will materialize.

Bloomberg

Saudi Arabia cuts oil production again to shore up prices — this time on its own

OPEC+ countries also agreed to extend oil production cuts they announced in April through the end of 2024, reducing production by more than 1 million barrels per day.

WEKU

Saudi Shoulders Burden to Support Oil Market With Extra Cuts

Saudi Arabia will make an extra 1 million barrel-a-day oil supply cut in July, taking its production to the lowest level for several years after a slide in crude prices.

Bloomberg

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Politico

Saudi Arabia cuts oil output by 1 million barrels per day to boost sagging prices

The slump in oil prices has helped American drivers fill their tanks more cheaply.

The Independent UK

With oil prices slumping, OPEC+ producers weigh more production cuts

The major oil-producing countries led by Saudi Arabia and Russia are deciding whether to make more cuts to the amount of crude they supply to the global economy

Barchart

Crude Closes Higher Ahead of Weekend OPEC+ Meeting

July WTI crude oil (CLN23 ) on Friday closed up +1.64 (+2.34%), and July RBOB gasoline (RBN23 ) closed up +6.45 (+2.65%). Crude oil and gasoline prices Friday closed moderately higher. Crude prices rose Friday in hopes of stronger Chinese energy demand after Bloomberg reported the Chinese government is working...

Barchart

Crude Settles Higher on Dollar Weakness and Strong Economic Reports

July WTI crude oil (CLN23 ) on Thursday closed up +2.01 (+2.95%), and July RBOB gasoline (RBN23 ) closed down -0.76 (-0.31%). Crude oil and gasoline prices Thursday settled mixed. A decline in the dollar index Thursday to a 1-week low was bullish for energy prices. Also, the House passage...

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Investors Business Daily

OPEC+ Meeting: No Crude Production Change Seen Even As Oil Prices Fall

OPEC+ meets this weekend with oil prices sagging lower. Meanwhile, energy stocks dropped early Wednesday, with CVX and XOM both slumping.

StockNews.com

Marathon Oil Corporation (MRO) or Shell PLC ADR (SHEL): Which Stock Is a Buy?

Despite lingering macroeconomic headwinds, the energy sector is well-placed for significant growth this year. Sustained energy demand worldwide and constrained supplies are expected to boost oil and gas prices. Energy producers Marathon Oil (MRO) and Shell (SHEL) should benefit from the sector’s bright growth prospects. But which of these stocks…

Bangkok Post

OR prepares for oil price volatility later this year

PTT Oil and Retail Business Plc (OR) is bracing for possible challenges caused by oil price fluctuations and a global economic slowdown that could affect the company in the second half of this year.

Reuters

Russia's Novak does not expect new steps from OPEC+ meeting

Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from the OPEC+ group of oil producers at its meeting in Vienna on June 4, Russian media reported, after the group announced a significant output cut earlier this year.

Bloomberg

Oil Snaps Three-Day Rally After Russia Says OPEC+ Will Stay Put

Oil fell the most since early May after Russia downplayed the likelihood of another OPEC+ production cut.

Barchart

Crude Posts Moderate Gains as Weekly EIA Crude Inventories Unexpectedly Plunge

July WTI crude oil (CLN23 ) on Wednesday closed up +1.43 (+1.96%), and July RBOB gasoline (RBN23 ) closed up +6.00 (+2.34%). Crude oil and gasoline prices posted moderate gains, with crude climbing to a 3-week high and gasoline climbing to a 5-week high. Crude prices opened higher Wednesday on...

Barchart

Crude Posts Moderate Gains on Comments from Saudi Energy Minister

July WTI crude oil (CLN23 ) on Tuesday closed up +0.86 (+1.19%), and July RBOB gasoline (RBN23 ) closed up +2.11 (+0.83%). Crude oil and gasoline prices Tuesday settled moderately higher, with crude posting a 1-1/2 week high and gasoline climbing to a 5-week high. Crude prices jumped Tuesday after...

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