U.S. crude oil extends losses, falls below $73 per barrel on OPEC+ increasing supply
Oil has erased most of gains for the year as OPEC+ plans to start increasing production in October.
Oil prices little changed after OPEC+ extends output cuts
JPMorgan said the decision by OPEC+ is largely neutral for oil prices in 2024.
OPEC+ wants concrete rate cuts before factoring impact on oil demand, Saudi energy minister says
Expectations have mounted over the timeframe and number of rate cuts likely to be carried out by global central banks.
Oil alliance OPEC+ extends collective crude production cuts into 2025
The influential Organization of the Petroleum Exporting Countries and its allies on Sunday agreed to extend its official crude output agreement into 2025.
Oil giant Saudi Aramco begins massive share sale to raise around $12 billion
Saudi state oil giant Aramco commenced its secondary public offering on Sunday as the company looks to raise in the region of $12 billion.
May 2024
U.S. crude oil on pace for worst month of year ahead of weekend OPEC+ meeting
U.S. oil is down 4.8% in May, while global benchmark Brent has fallen 7.2%.
Oil alliance OPEC+ could extend cuts as focus shifts away from Middle East tensions, sources say
The OPEC+ alliance meets on June 2 to decide the next steps of its production policy.
Saudi Aramco offers nearly $11.5 billion in new stock for sale
Aramco will offer 1.545 billion shares in a price range between 26.70 and 29 Saudi riyals per share on Sunday.
Exxon trouncing Salesforce since software stock replaced oil giant in the Dow four years ago
Stocks that are kicked out of the Dow typically outperform their replacements.
U.S. crude oil falls 3.2% in May, on pace for worst month of the year
U.S. crude oil having its worst monthly performance since December.