Oil Prices Under Pressure From the Prospect of Another OPEC+ Hike

Oil Prices Under Pressure From the Prospect of Another OPEC+ Hike

Oil prices were under pressure on Tuesday morning amid OPEC+ production hike rumors, Iran nuclear deal speculation, and geopolitical tensions involving Russia and the U.S.

OPEC+ to Review Output Strategy Amid Market Jitters Over Falling Oil Prices - TV360 Nigeria

Oil ministers from the OPEC+ alliance are set to meet on Wednesday to deliberate on future production levels, as global markets grow increasingly concerned about a potential output hike at a time of weakening prices. The oil market has been under pressure in recent weeks, largely due to fears that the ongoing trade and tariff standoff led by U.S. President Donald Trump could tip the global economy into a slowdown. Such an outcome would likely su…

Oil Prices Flat As Chevron Sanctions, OPEC+ Outlook Shape Market Caution

Oil prices held within a narrow range on Wednesday as market participants digested new U.S. sanctions on Venezuela impacting Chevron’s operations while anticipation ahead of a key OPEC+ production meeting later this week capped upward momentum. As of 09:52 Nigerian time, Brent crude oil gained 6 cents or 0.1 percent to trade at $64.15 per […] The post Oil Prices Flat as Chevron Sanctions, OPEC+ Outlook Shape Market Caution appeared first on Inve…

Oil Climbs As Traders Weigh Supply Outlook, Russia Sanctions

Oil rose as the market juggled the outlook for more OPEC+ supply and the prospect for additional US sanctions on Russia.Brent traded above $64 after closing 1% lower on Tuesday, while West Texas Intermediate was near $61. An OPEC+ committee, which monitors developments in the market, meets later Wednesday before a group led by Saudi Arabia convenes on Saturday to decide on output policy for July.Members held preliminary talks last week on making…

Oil Slips Despite Easing Trade Tensions

Oil fell as traders focused on the chance of another major OPEC production hike.

Oil prices dip as U.S.-Iran talks, OPEC+ plans spur supply concerns

… group told Reuters. Opinion: Canada may yet thrive in … Dennis Kissler, senior vice president of trading at BOK Financial … continued sanctions on Iran, which would limit Iranian oil supply, … Iranian supply to the market. Supporting prices, U.S. President …