On today's episode of Opening Bid, host Brian Sozzi looks at whether stocks can maintain record-level momentum as tariff concerns and technical signals raise caution. LPL Financial chief technical strategist Adam Turnquist joins Yahoo Finance Senior Reporters Allie Canal and Ines Ferré to preview earnings season and what could move markets.
CNBC's Brian Sullivan joins 'Squawk on the Street' to discuss the latest news on the energy market.
Oil prices rebound as tight supply offsets OPEC+ output hike. Traders eye $67.58 for crude futures breakout amid bullish oil demand outlook.
OPEC+ will increase oil production even more rapidly than expected next month as eight key alliance members agreed to raise supply by 548,000 barrels a day at a video conference on Saturday. The countries had announced increases of 411,000 barrels for each of May, June and July.
Goldman Sachs said it expects a group of eight OPEC+ members to lift oil production quotas by 550,000 barrels per day in September, which would complete the unwinding of 2.2 million bpd of voluntary cuts, as they look to normalize spare capacity amid resilient global oil demand.
Oil prices slipped 1% at the start of trading on Monday after OPEC+ accelerated output hikes and raised concerns about oversupply.
The Organization of the Petroleum Exporting Countries and its allies announced Saturday they will increase oil production by a larger-than-expected amount in August, as part of a continuing effort to reclaim market share by lowering prices.
Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of next week's trade.
OPEC+ agrees to a larger output hike, raising oversupply risks. Traders watch crude oil for a potential price drop as markets prepare for Monday's session.
An eight-nation subset of the oil-producing OPEC+ alliance agreed to lift production by a larger-than-expected 548,000 barrels per day in August. The group comprises heavyweight producers Russia and Saudi Arabia, alongside Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates.
OPEC+ will consider raising oil output by around 550,000 barrels per day in August at its meeting on Saturday, up from the monthly increases of 411,000 bpd it approved for May, June and July, two sources familiar with the discussions said.
Eight OPEC+ countries are likely to make another accelerated oil output increase for August at a meeting on Saturday, sources from the producer group told Reuters, as they seek to regain market share.