OPEC is still holding a lot of the cards, energy analyst says
OPEC has a number of options at its disposal if oil markets sink further, says Saul Kavonic, head of energy research at MST Marquee.
Oil Prices Hit Four-Year Low on OPEC Announcement
Oil prices have fallen to a four-year low due to a surprise output increase by OPEC+ and escalating global trade war. Brent prices are down 13% in two days - heading below $65 a barrel.
Slumping Oil Prices Reflect Intensifying Economic Worries
Fears that President Trump's tariffs could slash global economic growth — and demand for oil as a result — were weighing on the market.
Oil majors suffering from OPEC+ output hike, not from U.S. tariffs, Eni exec says
Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni's top executive Francesco Gattei said on Friday.
Why OPEC+ is accelerating oil production as prices are tanking and tariffs hammer markets
The oil price outlook is being hit with more bearish forecasts on the back of U.S. President Donald Trump's sweeping and market-hammering tariff announcements. Markets were therefore stunned when OPEC+ chose not only to go ahead with its previously held plans to increase oil production, but also to nearly triple the expected increase figure.
Oil Prices: OPEC+ Announcement Stuns Market
The OPEC+ alliance will increase supply by three times the planned amount in May in what delegates described as a deliberate effort to drive down prices to punish the group's cheats. Crude was already reeling from the onslaught of trade tariffs announced by US President Donald Trump the previous day, and the surprise addition of 411,000 barrels a day by OPEC+ in May turbo-charged the rout.
BP chair Helge Lund to step down after oil major pledges strategic reset
British oil major BP on Friday said its chair Helge Lund will step down, kickstarting a succession process with support from the wider board.
Oil prices plunge as OPEC+ boosts output
Oil prices plunged on Thursday, marking the steepest decline since 2023, as markets reacted to a combination of increased OPEC+ production and new U.S. tariffs that heightened concerns over global economic growth.
Oil Prices Drop Amid Worries About Trump Tariffs as OPEC+ Increases Supply More than Expected
Oil prices dropped Thursday amid worries about an escalating trade war from Trump's tariffs, as OPEC and its allies sped up plans to increase output and unwind supply cuts.
Oil Got a Tariff Exemption. Why It's Plunging Anyway.
The commodity is being hit by several other things, including global fallout from the Trump tariffs and increased OPEC production.
Eight OPEC+ producers accelerate crude oil output hikes, pushing oil prices down 6%
Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices. The group was widely expected to implement an increase of just under 140,000 barrels per day next month.
Oil News: Crude Plunges Over 3% After Trump Tariff Surprise and Stock Build
Crude oil tumbles over 3% as Trump's tariffs spark demand fears and inventories rise, pressuring oil outlook and triggering a bearish turn in futures.
