Oil Prices Fall 1% as OPEC+ Announces Increase in Output

‘Global oil market is oversupplied’: expert expects oil prices to fall

A commodities expert expects the price of oil to fall as energy producers ramp up supply while countries around the world brace for less severe tariffs from U.S President Donald Trump‘s administration.

OPEC says world economy may do better in second half of year

By Alex Lawler LONDON (Reuters) -OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries’ crude intake would remain elevated to meet the uptick in summer travel, helping to support the demand outlook. In a monthly report on Tuesday, the Organization of the Petroleum Exporting Countries left its forecasts for global oil demand growth unchanged in 2025 and 2026 after reduc…

Embattled Iran slams consequences of war on oil markets

War can lead to ‘complications on energy producers’ and hardships on national economies, Iran’s oil minister warned on Wednesday.

Russia Falls Short of OPEC Oil Output Quota for June

The heavily sanctioned and militarily targeted producer of crude has missed its targets throughout much of 2025, Bloomberg reported.

Oil rises as strong demand offsets big OPEC+ output hike

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of U.S. tariffs, with prices mostly reversing early losses as a tight physical market lent support.

OPEC+ to Boost Oil Production by 548,000 Barrels a Day

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 this year.