Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further reduce gas prices.

The eight OPEC+ nations on Saturday agreed to increase their crude oil production by 548,000 barrels per day starting in ...

OPEC+ raises oil production by 548K barrels/day in August amid steady economic outlook & low inventories. Read more here.

OPEC+ accelerates oil production to capitalize on summer demand, raising questions about long-term strategy and market share.

At a virtual meeting Saturday, eight core members led by Saudi Arabia agreed to add 548,000 barrels per day (bpd) to global supply—exceeding earlier expectations of a 411,000 bpd hike.

The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts ...

Eight OPEC producers agreed to lift crude output by 548,000 barrels per day in August, exceeding the anticipated 411,000 ...

Saudi Arabia, Russia and six other key members of the OPEC+ alliance will discuss crude production on Saturday, with analysts ...

U.S. crude oil inventories rose for the first time in six weeks as imports rose and exports dropped, according to data released by the U.S. Energy Information Administration. Gasoline inventories rose ...

The NYMEX August West Texas Intermediate contract was down by 53cts to $66.92/bbl and September WTI was off by 51cts to $65.50/bbl. Both the September and October Brent crude contracts were 47cts ...

Global oil production fell by 1% in 2024 while demand continued to grow, widening the supply gap, OPEC reported.