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Oil prices fall on supply glut fears despite OPEC+ output cut extension
Oil prices fell by more than 1% on Friday and cemented weekly losses as analysts projected a supply surplus next year on weak demand despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.
OPEC+ to delay oil output hike, propping up prices
OPEC+ is set to again push back its planned increase in oil output, in an effort to support the market next year. The oil-producing bloc has already delayed its anticipated output hike several times,
Oil Prices Sink as Market Faces Supply Surplus and OPEC+ Pushes Back Production Hikes
Oil prices took a sharp dip Friday, with Brent crude falling to $71.12 per barrel and WTI to $67.20. Concerns over a supply surplus and weak global demand continued to pressure the market despite OPEC+ extending
Oil prices drop on supply glut fears despite OPEC+ output cut extension
Oil prices fell 1% on Friday and were headed for weekly losses as analysts projected a supply surplus next year on floundering demand despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.
OPEC+ oil alliance makes decision on crude oil prices
The OPEC+ alliance of oil exporting countries has decided to delay plans to pump more crude for a further three months amid sluggish demand and competing production from non-allied countries - factors that could keep oil prices stagnant into next year.
OPEC+ oil alliance decides to postpone production increases amid stagnant crude prices
The OPEC+ members decided at an online meeting to postpone by three months production increases that had been scheduled to take effect Jan. 1.
21h
Oil set for weekly loss on surplus fears despite OPEC+ cut extensions
Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone ...
11h
Oil prices end at their lowest in 3 weeks after OPEC+ fails to allay supply worries
Oil futures settled lower on Friday to tally losses for the week, a day after a decision by the Organization of the Petroleum ...
15h
on MSN
The US and other crude producers will take more oil market share from OPEC in the coming years, Bank of America says
The US and other oil-producing nations will account for the bulk of crude supply growth in 2025, Bank of America said.
20h
on MSN
OPEC+ Delays Oil Output Hike Once Again
The Organization of the Petroleum Exporting Countries and its allies will further push back an oil production increase ...
1d
OPEC Plus Postpones Plan to Increase Oil Output for Three Months
The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other ...
2d
on MSN
Oil Seen Below $60 by Middle of New Trump Term, Survey Shows
Banks are gearing up for US oil prices to fall below $60 a barrel by the middle of President-elect Donald Trump’s new term in ...
20h
Saudi Arabia Is Losing Its Iron Grip on Global Oil Markets
Rising U.S. production and internal OPEC+ pressure limit the kingdom’s sway over prices. Trump is a new wild card.
18h
Morgan Stanley, HSBC cut oil supply forecast, predict $70 Brent after OPEC decision
Morgan Stanley and HSBC revised down their expectations for an oil market surplus next year and forecast a Brent price of $70 ...
1d
Oil Patch in Canada Has $24 Billion Shield Against Trump Tariffs
The expansion of Canada’s Trans Mountain pipeline represented a $24 billion bid to help the country’s oil producers reduce ...
E&E
2d
Trump gets second chance to drill ANWR. Will oil companies bite?
The Biden administration reversed course, freezing exploration for oil in ANWR, but President Joe Biden didn’t galvanize ...
The New Voice of Ukraine on MSN
19h
Czechia resumes Russian oil imports via Druzhba pipeline
"The supply was restored this morning, and oil is once again flowing through the Druzhba pipeline to the Czech Republic," ...
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