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Eight key members of the OPEC+ alliance said Sunday they have agreed to again boost oil production, in a strategy analysts saw as a bid to gain a bigger market share of crude sales. Oil ministers in the V8 grouping — comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman … Read more
OPEC+ has agreed in principle on another bumper oil production increase for September, according to a delegate, completing the revival of a halted supply tranche as the group moves to reclaim global market share. Saudi Arabia and its partners plan to ratify the addition of 548,000 barrels a day for next month when they hold … Read more
The blue logo of the Organization of the Petroleum Exporting Countries (OPEC) is displayed on the facade of its headquarters building in Vienna, Austria, on June 9, 2025. Nurphoto | Nurphoto | Getty Images OPEC says more than 1,000 ministers, CEOs, policymakers, analysts and journalists were invited to its biennial seminar to discuss key trends … Read more
Saudi Arabia, Russia and six other key members of the OPEC+ alliance on Saturday said they would further increase oil output in August to 548,000 barrels per day. Analysts had expected the alliance to decide on another output increase of 411,000 bpd — the same target approved for May, June and July. The group said … Read more
The OPEC logo is displayed on a mobile phone screen in front of a computer screen displaying OPEC icons in Ankara, Turkey, on June 25, 2024. Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance on Saturday agreed to lift their collective crude production by 548,00 barrels per day, as they … Read more
OPEC+ agreed to surge oil output for the third month in a row despite reservations from key member Russia, doubling down on a historic policy shift that has sent crude prices sinking. Oil-producing nations led by Saudi Arabia agreed during a video conference on Saturday to add 411,000 barrels a day to the market in … Read more
Stay informed with free updates Simply sign up to the Oil myFT Digest — delivered directly to your inbox. Opec+ announced another large increase in oil output for July in the latest sign that the cartel was intent on unwinding the first tranche of its long-standing production cuts as quickly as possible. Eight members of … Read more
Oil prices eased on Tuesday as market participants weighed the possibility of an OPEC+ decision to further increase its crude oil output at a meeting later this week. Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance could hike output by as much as 411,000 barrels per day in July, two … Read more
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | Reuters OPEC+ countries on Wednesday agreed to leave their formal output quotas unchanged, with market focus shifting toward potential increases from an eight-member subset of … Read more
U.S. stock market futures dipped Sunday night, putting the S&P 500’s winning streak at risk after the broad market index recouped losses triggered by President Donald Trump’s “Liberation Day” tariffs. Futures for the Dow Jones Industrial Average slipped 121 points, or 0.29%. Futures for the S&P 500 lost 0.35%, and Nasdaq futures eased 0.33%. On … Read more
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