SPR

OPEC+ on Sunday announced that it will limit combined oil production to 40.463 million barrels per day in 2024, with voluntary cuts announced by some of the members that were set to expire by 2023 extended to 2024. Saudi Arabia said it would implement an additional 1 million barrel per day cut for...

U.S. oil company stocks are rallying in Wednesday's session, with the Energy Select Sector SPDR Fund (ARCA: XLE) up 2%, fueled by a 3.4% increase in WTI crude oil prices as a result of a confluence of positive headlines over the past few weeks. On Monday, the U.S. Department of Energy announced...

Amos Hochstein, the U.S. official responsible for energy diplomacy, said on Friday that the United States could begin to replenish its strategic oil supplies this autumn if oil prices are at the right level.  The Special Presidential Coordinator for global infrastructure and...

Oil prices pulled back steeply to an 18-year low Wednesday, settling the session at $20.37, although the commodity has made a modest recovery since then. The commodity has seen weakness from a one-two punch: a slowing global economy that translates to reduced oil consumption and wrangling between...