(Bloomberg)– OPEC+ will pause output increases for the first quarter, after making another modest increase next month, as the group balances its push to gain market share with signs of an emerging surplus. Key members led by Saudi Arabia agreed during a video conference on Sunday to restart 137,000 barrels per day next month, matching…
In today’s stock news, things are a bit uncertain. People are waiting to hear what Jerome Powell, who is in charge of the Federal Reserve, has to say about interest rates. The Dow Jones, S&P 500 and Nasdaq 100, which are like stock market scores, are not moving much. They rose a lot in November,…
(Corrects Brent selloff to lowest level since May 7, not May 5, in paragraph 3) By Erwin Seba HOUSTON (Reuters) – Brent and U.S. crude oil futures fell more than $2 a barrel, or more than 3%, on Friday as U.S. President Donald Trump’s threat of higher tariffs on China darkened the demand outlook in…
The OPEC+ group continues to return modest volumes of supply to the market, cautious not to tank oil prices as demand weakens after the summer. Production increases are estimated to be smaller than headline figures suggest: some producers lack the capacity to increase production further, while others are compensating for previous overproduction. While lower-than-expected production…
The predictions of an excess oil have dominated the presentation of oil market reports for months. Bloomberg suggested this week that the first signs of excess supply can already be emerging, with several million barrels of oil from the Middle East not sold in the last cycle of the spot market. However, some analysts do…
