Oil prices rise over 2% after OPEC+ delays production increase by another month
Oil futures saw strong gains Monday after the Organization of the Petroleum Exporting Countries said members would wait yet another month before beginning to unwind production cuts.
Brent Crude - Oil Prices Rise As OPEC+ Extend Output Cuts
Oil prices opened $1 dollar higher following the weekend to trade at 73.80 a barrel when markets opened. Click to read.
Why OPEC+ Delayed Its Planned Oil Production Increase
OPEC+ has delayed its planned production increase for a second time, citing market conditions and geopolitical uncertainties.
Oil Gains as OPEC+ Further Delays Output Hike
Oil prices rose after OPEC and its allies pushed back a planned production increase by a month, signaling caution amid growing concerns about weaker global demand and lower prices.
Aramco Cuts Oil Prices to Asia for December After OPEC+ Delay
Saudi Arabia lowered oil prices for buyers in Asia for December after members of the OPEC+ producers group said they will push back production increases by one month.
Oil Prices Spike After OPEC+ Postpones Production Cut Increase
OPEC+ delayed a planned increase in oil production, causing prices to rise as analysts debate the long-term impact on the market.
Crude Prices Jump as OPEC+ Delays Production Increases
Monday closed up +1.98 (+2.85%), and December RBOB gasoline (RBZ24) closed up +0.0528 (+2.68%). Crude oil and gasoline prices rallied to 1-week highs on Monday and settled moderately higher. Monday's fall in the dollar index (DXY00) to a 2-week low was bullish for energy prices.
OPEC extends oil output cuts
The OPEC bloc of oil-producing nations announced Monday that it will extend oil production cuts through the end of 2024, spurring a 2 percent increase in the price of U.S. benchmark West Texas Intermediate crude oil.
OPEC+ production hike delay may signal oil price concerns, analysts say
OPEC+ had been due to increase monthly output by 180K bbl/day starting in December, but the mere one-month extension on its ...
Oil jumps nearly 3% after OPEC+ delays output hike, US election in focus
Oil prices climbed nearly 3% on Monday on OPEC+'s decision for a month's delay in plans to increase output, while investors ...
Interfax11h
OPEC+ will discuss current situation on global oil market at next meeting, reach decisions on actions as of Jan 1 - deputy PM
SOCHI. Nov 6 (Interfax) - The Joint Ministerial Monitoring Committee (JMMC) will discuss the current situation on the global oil market in December and will reach decisions on further actions to be ...
Russia Says October Crude Output Was in Line With OPEC+ Target
Russian data show the nation’s crude production in October was almost in line with its target under the OPEC+ agreement, according to people familiar with figures from the Energy Ministry. The ...
Russia's oil output at 9 million bpd as promised to OPEC+, Novak says
Russia will stick to its commitments to the OPEC+ group of leading oil producers and has reached its promised oil output ...
OPEC+ is ‘very realistic’ on oil demand, Dan Yergin says
Daniel Yergin of S&P Global discusses the OPEC+ output hike delay. Saturday Night Live’s Bowen Yang and Chappell Roan hold ...
Rigzone2d
Will USA Election Outcome Affect OPEC+ Policy?
Rigzone talks to representatives of Hartree Partners, the Heritage Foundation, and the American Enterprise Institute.
Most Gulf markets fall as OPEC+ delays oil output hike
Most major stock markets in the Gulf fell in early trade on Monday, following a decision by OPEC+ to delay a planned December ...