OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global supply picture because of fresh U.S. sanctions on Venezuela, Iran and Russia, eight OPEC+ sources said.
The crude oil market continues to see a lot of pressures, but at this point, it looks like the two major crude oil grades that I follow are trying to do what they can to rally.
Oil futures rose Thursday morning, finding support a day after President Trump said he was revoking a license issued by the Biden administration that had allowed Chevron to produce oil in Venezuela.
U.S. policy on Venezuelan oil impacts markets. Discover how supply disruptions influence natural gas and oil prices.
Oil prices edged up from two-month lows on Thursday after U.S. President Donald Trump announced a reversal of a license given to Chevron to operate in Venezuela, potentially tightening crude supply.
The oil markets continue to see lackluster movement, as the markets are adjusting to the potential outlook for slowing economic movement across the world. At this point, this is a market that is trying to find its bottom.
Oil futures edged lower early Wednesday, maintaining a weak tone on concerns over the global economic outlook and the potential for a halt to Russia's war on Ukraine that could result in sanctions on Moscow being loosened.
Crude oil futures flat as bearish technicals signal more downside. Key support at $67.06 looms.
Embattled oil major BP on Wednesday unveiled what it billed as a strategic reset, planning to increase oil and gas investment while reducing outlays for greener fuels.
British oil major BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion as part of a fundamental strategic reset.
Geopolitical tensions and shifting supply dynamics drive market volatility. Key levels to watch for price movement.
Former Keystone Pipeline worker Bugsy Allen discusses how detrimental the Biden administration was to the oil industry and how it will improve under President Donald Trump on ‘The Evening Edit.'