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OPEC+ is pumping more oil

OPEC+ is pumping more oil, but is it needed and at what price?

Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce?

AOL · 2h

Oil prices expected to drop below $60 on increasing OPEC+ supply

Wall Street analysts predict oil futures will fall below $60 per barrel by the end of the year as the Organization of the Petroleum Exporting Countries (OPEC) and its allies boost output.

The New York Times · 2d

OPEC Plus Agrees to Pump More Oil in August

The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts expected and could lead to lower oil prices.

14h

Exclusive: OPEC+ set to complete big oil output cut unwinding in Sept, sources say

OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of ...

9hon MSN

Exxon, Chevron, Shell, BP Stocks Fall. OPEC Oil Plans, Gas Trading Fears Are Biting.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of ...

16hon MSN

Summer gas prices are headed even lower, as Saudi Arabia accepts the 'lesser evil' of cheap oil

OPEC+ jolted markets by announcing it would flood the market with more oil.

OilPrice.com9h

OPEC+ to Complete Unwinding of Oil Output Cuts With Big September Hike

OPEC+ is accelerating its oil production increases, aiming to fully unwind its 2023 supply cuts by September, risking an oversupplied market and pressuring U.S. shale producers.

Goldman sticks to forecast for lower oil prices after OPEC production jump

Goldman Sachs commodity analysts are sticking to their forecast for Brent to average $59 a barrel by the fourth quarter of this year and $56 in 2026, following a bigger-than-expected production rise ...