Published 09/26/2024 12:36:19 p.m.

Oil prices turn sharply lower on reports Saudi Arabia set to raise output (NYSEARCA:USO)

Oil prices fell sharply after reports that Saudi Arabia would increase production and abandon its $100 per barrel target.
OPEC+ plans to implement an increase in oil production starting December 1, regardless of lower prices.
By Thursday at 10:30 a.m. ET, Brent Crude dropped approximately 2.8%, settling at $71.40.

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Washington Examiner

Oil prices drop following Saudi Arabia raising crude output: Report - Washington Examiner

Oil prices fell Thursday morning, just hours after a new report revealed Saudi Arabia, the world’s largest crude exporter, is considering increasing production later this year. The move comes just weeks after the nation and eight other members of OPEC+ agreed to temporarily pause oil output hikes, as prices have fallen dramatically in recent weeks. Saudi Arabia had an unofficial goal of again hitting crude oil prices of around $100 a barrel in…

09/26/2024 3:10:28 p.m.·Washington, United States

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Seeking Alpha

Oil prices turn sharply lower on reports Saudi Arabia set to raise output (NYSEARCA:USO)

Crude oil prices fall as OPEC+ plans production hike, Saudi Arabia to raise output, while Libya and China developments impact market sentiment.

09/26/2024 2:25:35 p.m.·United States

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Zero Hedge

Oil Prices Slide After FT Report On Saudi Production, Russia Denies OPEC+ Shift

Oil Prices Slide After FT Report On Saudi Production, Russia Denies OPEC+ Shift Is there something about $70 WTI that 'the powers that be' are afraid of? Source: Bloomberg A month ago, Reuters reported, citing the usual anonymous sources, that OPEC+ was set to proceed with a production hike in October. That immediately sent oil prices lower, slamming WTI back below $70. A few days later, Reuters reported the exact opposite - that any October pr…

09/26/2024 12:36:19 p.m.·United States

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Business Recorder

Oil prices slide 3% on prospect of more OPEC+ oil

HOUSTON: Oil prices fell more than 3% on Thursday on a Financial Times report that Saudi Arabia, the world’s top...

09/26/2024 4:52:30 a.m.

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Blue Water Healthy Living

Oil prices slide on prospect of Saudi Arabia raising output

By Ahmad Ghaddar LONDON (Reuters) -Oil prices slipped on Thursday, reversing earlier gains, on a media report that Saudi Arabia, the world’s top crude exporter, will give up its price target in preparation for raising output. Brent crude futures were down $1.62, or 2.2%, to $71.84 a barrel, while U.S. West Texas Intermediate crude fell $1.6, or 2.3%, to $68.09 per barrel as of 1240 GMT. Both contracts fell more than $2 a barrel earlier on Thur…

09/26/2024 12:49:51 p.m.·Port Huron, United States

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The Rio Times

Oil Prices Plummet as Saudi Arabia and OPEC+ Eye Production Increase

The global oil market experienced a significant downturn as rumors circulated about OPEC+ planning to boost production in December. Saudi Arabia, the world’s largest oil exporter, reportedly abandoned its $100 per barrel price target to increase output. This news sent shockwaves through the industry, causing oil prices to tumble. Brent crude, the international benchmark, fell […]

09/26/2024 8:57:21 p.m.·Brazil

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Oil prices turn sharply lower on reports Saudi Arabia set to raise output (NYSEARCA:USO)

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Oil prices drop following Saudi Arabia raising crude output: Report - Washington Examiner

Oil prices drop following Saudi Arabia raising crude output: Report - Washington Examiner

Oil prices turn sharply lower on reports Saudi Arabia set to raise output (NYSEARCA:USO)

Oil prices turn sharply lower on reports Saudi Arabia set to raise output (NYSEARCA:USO)

Oil Prices Slide After FT Report On Saudi Production, Russia Denies OPEC+ Shift

Oil Prices Slide After FT Report On Saudi Production, Russia Denies OPEC+ Shift

Oil prices slide 3% on prospect of more OPEC+ oil

Oil prices slide 3% on prospect of more OPEC+ oil

Oil prices slide on prospect of Saudi Arabia raising output

Oil prices slide on prospect of Saudi Arabia raising output

Oil Prices Plummet as Saudi Arabia and OPEC+ Eye Production Increase

Oil Prices Plummet as Saudi Arabia and OPEC+ Eye Production Increase

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