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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 Exporting Countries and its allies to further postpone a planned reversal of production cuts failed to allay fears of a crude surplus.
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 planned supply increases and extend deep output 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 little changed after OPEC+ members delay production increase until April
Oil prices were little changed on Thursday after OPEC+ members agreed to delay plans to increase production. U.S. crude oil down 2 cents, or 0.03%, to $68.52 per barrel at 8:26 a.
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.
11h
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
Oil prices dip as extended OPEC+ supply cuts highlight weak demand
Oil prices dipped on Friday, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended ...
17h
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 ...
14h
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 ...
17h
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.
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 ...
7h
on MSN
Oil Prices Fall on Supply Glut Fears Despite OPEC+ Output Cut Extension
On Thursday, the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, pushed back the ...
The New Voice of Ukraine on MSN
15h
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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