OPEC

A wild week ended with another head-spinning session Friday as stocks stormed back in the last half hour from deep losses to end above key technical support. The late charge helped stocks finish the week slightly higher despite massive levels of volatility. Whether Friday’s late recovery...

Oil prices hit fresh multiyear lows Friday morning after an OPEC+ meeting in Austria failed to reach any consensus on deeper cuts to oil production, The Wall Street Journal reported. Oil Hits Multiyear Lows  Saudi Arabia and other OPEC members were lobbying non-OPEC member Russia to support...

Despite a better-than-expected jobs report, it still doesn’t seem like investors want to carry as much risk into the weekend. The government’s February nonfarm payrolls report came in well ahead of expectations with a print of 273,000 when only 170,000 had been expected in a Briefing....

Today, OPEC will announce whether the organization and affiliated countries will cut oil production by 1.5 million barrels per day. The amount of the supply cut was announced after yesterday’s meeting, but pushback from Russia led to uncertainties that it might not become official. Crude oil...

The market expected a new coronavirus-induced 1 million-barrel-per-day (b/d) production cut from OPEC+, the coalition of OPEC and participating non-OPEC nations. What it got on Thursday was a much bigger proposed cut of 1.5 million b/d. Underscoring the severity of the demand problem, crude prices...

Oil prices slipped late Thursday as the Organization of the Petroleum Exporting Countries suggested output cuts. What Happened In a meeting of the 14 members convened in Vienna on Thursday, the OPEC recommended members and associated countries to cut daily oil output by 1.5 million barrels. The...

Zach Strickland examines a rise in US outbound tender volumes before highlighting several of the nation's largest markets in the Carrier Update presented by PowerFleet, Donny Gilbert discusses the importance of utilizing historical data in SONAR in the Broker Update, and John Kingston discusses the...

Shares of several oil and gas companies were trading lower Monday after reports emerged that Saudi Arabia is pushing for a short-term oil production cut in response to the impact of China’s coronavirus, which is impacting crude demand, The Wall Street Journal reported...

Oil prices surged Friday a U.S. airstrike killed General Qassem Soleimani, the head of Iran’s elite Quds, a move that sparked rebuke from some Democrats and promises of retaliatory action from Iran. What Happened Perhaps surprisingly, oil equities, such as Dow components Exxon Mobil (NYSE:...

Oil prices have climbed back from their earlier highs after surging on news of deeper cuts agreed to by the Organization of Petroleum Exporting Countries. OPEC, at its meeting in Vienna, agreed to deeper cuts than already have been in place. That agreement came Dec. 6 after a lengthy meeting that...

This morning it's all about Non-Farm Payrolls, U.S./China trade negotiations, and OPEC’s decision to increase production cuts. Let’s begin with the data scheduled for release this morning at 8:30AM ET, when the Commerce Department will release its monthly breakdown on the U.S. labor...

Things are looking up. That little hitch in the markets last Friday and early this week appears to be behind us, setting the stage for more solid gains ahead of the opening bell today. The positive tone followed overnight advances in Europe and Asia, mostly on ideas that trade talks might be headed...

Good day, Oil prices continue to stay low because some OPEC and/or OPEC+ members are refusing to cut their oil production quotas. This has miffed Saudi Arabia, which is on the brink of finalizing the initial public offering (IPO) of Aramco, its state-owned oil company. OPEC officials have said...

Today kicks off the first of two days of OPEC and OPEC+ meetings in Vienna, Austria. The coalition of 13 oil-rich countries that control nearly 40% of the world’s oil supply is expected to make further cuts to production. At the first meeting of the year in June, members of OPEC decided to...