Saudi Arabia and allied oil producing countries said on Sunday they would postpone a plan to gradually increase oil output until the end of the year, extending their output cuts by one month.

Oil prices eased on Tuesday after rising almost 2 per cent in the previous session, as investors assessed new developments on ...

This isn’t the first time OPEC+ has extended output cuts in a bid to boost crude prices. The group in June lengthened the 2.2 million barrels per day cut through the end of September.

OPEC+ attributed the production hike to steady global economic conditions and strong market fundamentals, pointing to low ...

OPEC+ will maintain collective oil production cuts of 3.65 million bpd through December 2026 to stabilize markets. Additional voluntary cuts of 2.2 million bpd, first introduced in 2023, will ...

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the ...

OPEC agreed Monday to extend by nine months daily oil output cuts aimed at supporting prices and soaking up excess supplies, following last weekend's G20 pact between cartel kingpin Saudi Arabia ...

West Texas Intermediate (WTI), futures on NYMEX, recovers its initial losses and rebounds to near $65.50 during the European ...

OPEC+ on Thursday pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026 due to weak demand and booming ...

OPEC Extends Cuts, Oil Market Tightness To Continue Into 2025 Dec. 14, 2024 4:00 AM ET Crude Oil Futures (CL1:COM) , PSCE XOP , XLE , USO , USL , DUG , DIG , OILU , CL1:COM , PSCE 10 Comments 1 Like ...

2 days OPEC Reports a Global Oil Production Decline in 2024. ... OPEC+ Delays Output Increase to April 2025, Extends Cuts Into 2026 By Tsvetana Paraskova - Dec 05, 2024, 6:59 AM CST.

Despite the group’s supply cuts, global oil benchmark Brent crude has mostly stayed in a $70 to $80 per barrel range this year. On Thursday it traded near $72 a barrel, having hit a 2024 low ...