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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+ Delays Oil Output Hike Once Again
The Organization of the Petroleum Exporting Countries and its allies will further push back an oil production increase planned for January by three months amid softer prices and market concerns of an impending glut.
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 falls as investors weigh ample 2025 supply outlook, delayed OPEC+ output hike
Oil prices fell on Thursday as investors weighed an ample supply outlook for next year against OPEC+ delaying its planned output increase by three months to April 2025.
Oil Holds Tight Range After OPEC+ Extended Output Cuts
Oil prices continued to trade in a tight range despite OPEC+’s decision to push back a series of supply increases amid growing concerns over weaker demand and a looming supply surplus.
Oil prices decline as OPEC+ output decision fails to offset demand concerns
Oil prices headed lower Friday and looked to post a loss for the week as a recent decision by major oil producers to postpone an unwind of crude production c
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. Brent crude futures were down 66 cents,
Oil posts weekly loss despite Opec+ extending voluntary output cuts
Oil posted a weekly loss as analysts projected a “significant” supply surplus in 2025, despite an Opec+ decision to extend its voluntary output cuts of 2.2 million barrels a day until the end of March next year.
1d
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.
4d
Oil headed to $65 per barrel in 2025 amid ample supply, BofA says
Wall Street analysts are forecasting a bearish market for oil next year as the world's electrification shift progresses and ...
16h
on MSN
Russia's oil tsar says Trump's moves to defend US producers 'fitting'
Igor Sechin, the head of Russia's largest oil producer Rosneft, on Saturday said he approved of U.S. President-elect Donald ...
1d
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.
2d
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 ...
tbsnews
21h
Bottled soybean oil shortage hits retail markets; mill owners propose price hike
A visit to around 15 grocery stores in Kalyanpur, Hatirpool, and Moghbazar today (6 December) revealed a severe shortage of ...
Cowboy State Daily
6h
Get An Oil Change And Lunch At Gillette’s Expresso Lube, But Not A Beer
Expresso Lube in Gillette already has a unique business model operating an oil change shop on one side and a diner on the ...
KTVX Salt Lake City on MSN
1d
Rounding up at the register? Holiday Oil makes it worth it for Utah families this year
Holiday Oil is putting forth its annual "Christmas for Kids" charity drive this year, looking to support 75 Utah families and ...
The New Voice of Ukraine on MSN
1d
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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