(Oil Price)– The latest flare-up between Saudi Arabia and the United Arab Emirates over Yemen looks dramatic on the surface, but OPEC cohesion, not missiles or militias, is what ultimately matters to the oil markets, which is why the latest public spat between Saudi Arabia and the UAE over Yemen created just a temporary blip in crude prices. Saudi forces
(World Oil)– Oil reversed Friday’s decline as U.S.-led talks to end the war in Ukraine failed to yield a breakthrough, and China vowed to support growth next year. Brent traded near $62 a barrel, while West Texas Intermediate topped $58. The U.S. has stepped up a push to end the war, but sticking points remain, highlighting the difficulty in reaching
(World Oil) – U.S. shale companies are forging ahead with their production plans, adapting to $60 oil prices while grinding out small increases and setting up the industry to add to next year’s record supply glut. Diamondback Energy Inc., Coterra Energy Inc. and Ovintiv Inc. this week announced plans to raise output slightly for this year or 2026 despite oil
(World Oil) – The world’s biggest oil companies are expected to press ahead with plans to accelerate production growth when they report earnings this week, despite weak crude prices and higher supplies from OPEC and its allies. Exxon Mobil Corp., Chevron Corp., Shell Plc, bp Plc and TotalEnergies SE will likely grow output 3.9% this year and 4.7% in 2026, according
(World Oil)– Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said. Oil inventories will accumulate at a rate of 2.96 million bpd, surpassing even the average buildup during the pandemic year of 2020, data from the IEA’s monthly report showed. World oil demand this year
(Investing) – Oil prices declined on Monday, but pared back some earlier losses, after the OPEC+ oil group signaled over the weekend that it will further increase production in the coming months. The prospect of higher supplies and weakening demand weighed on crude, which has already been nursing steep losses so far in 2025. The declines put oil back in sight
(Investing) – A plunge in oil prices below $60 per barrel due to an escalating trade war may trigger anxiety across the U.S. oil patch, likely forcing companies to double down on measures including cuts to share buybacks and capital expenditures, analysts have said. Brent crude and West Texas Intermediate (WTI) futures slid to their lowest since February 2021, as sweeping tariffs
(World Oil) – Key OPEC+ nations reiterated the need for members to stick to oil output quotas after the group’s surprise decision to speed up an output revival battered crude prices. The Joint Ministerial Monitoring Committee noted that some OPEC+ members failed to fully observe their limits or deliver extra curbs pledged as compensation for over-producing, according to a statement on
(Investing) – Crude prices fell on Tuesday as U.S. tariffs on China took effect and Beijing retaliated with its own measures, heightening trade war fears, while U.S. President Trump delayed a decision on imposing steep levies on Canada and Mexico for a month. U.S. West Texas Intermediate (WTI) crude was down $1.63, or 2.23%, at $71.53 per barrel at 1302 GMT,
(World Oil) – Traders who piled into bullish options bets on oil prices at record pace are waking up to a harsh reality: Most of those contracts are now worthless. Israel refrained from striking Iran’s energy infrastructure in its long-awaited bombardment of the OPEC nation over the weekend, sending crude prices crashing. That plunge has helped contribute to a chunk
Nasdaq SINGAPORE – Saudi Arabia, the world’s biggest oil exporter, may raise its price for Arab Light crude for sale to Asian refiners for a third month as its voluntary output cuts may be extended, further tightening the supply of high-sulphur, or sour, crude. State-owned Saudi Aramco may raise the official selling price (OSP) for its flagship Arab Light crude
Oil Price Oil stocks have continued to show a peculiar disconnect from the commodity they track, with oil equities staging a powerful rally even as oil prices have fallen sharply since the last OPEC meeting. Over the past two months, the energy sector’s leading benchmark, the Energy Select Sector SPDR Fund (NYSEARCA: XLE), has climbed 34% while average crude spot prices have
