The Latest Breaking News from OPEC

US antitrust authorities cleared ExxonMobil's acquisition of Pioneer Natural Resources under the condition that the shale producer's former CEO be barred from the company's board, regulators announced Thursday.

June WTI crude oil (CLM24 ) this morning is down -0.49 (-0.62%), and June RBOB gasoline (RBM24 ) is down -0.63 (-0.24%). Crude oil and gasoline prices today extended Wednesday's loss and posted new 1-1/2 month lows. Crude prices are under pressure due to the potential for a cease-fire between...

The energy sector is positioned for substantial growth because of increasing global energy demands, geopolitical tensions, and recovering global economies. Therefore, investors could consider buying fundamentally strong energy stocks: Baker Hughes (BKR), Plains All American Pipeline (PAA), Euronav (EURN), and MRC Global (MRC), all of which are Buy-rated in our…

OPEC+ considering extending oil production cuts to stabilize market amid pandemic challenges.

June WTI crude oil (CLM24 ) this morning is down -2.21 (-2.70%), and June RBOB gasoline (RBM24 ) is down -7.81 (-2.90%). Crude and gasoline prices today dropped to 1-1/2 month lows and are moderately lower. Crude prices are under pressure due to the potential for a cease-fire between Israel...

June WTI crude oil (CLM24 ) on Tuesday closed down -0.70 (-0.85%), and June RBOB gasoline (RBM24 ) closed down -3.97 (-1.45%). Crude and gasoline prices Tuesday posted moderate losses. A stronger dollar (DXY00 ) on Tuesday pressured energy prices. Also, an easing of Middle East tensions is weighing on...

OPEC Secretary General reaffirms oil's significance in global energy landscape amidst renewable energy discussions.

June WTI crude oil (CLM24 ) on Friday closed up +0.28 (+0.34%), and May RBOB gasoline (RBK24 ) closed up +1.07 (+0.39%). Crude and gasoline prices posted moderate gains on Friday. Middle East tensions are underpinning crude prices on concerns about an escalation of the Israel-Hamas war. Israel has launched...

June WTI crude oil (CLM24 ) this morning is up +0.06 (+0.07%), and May RBOB gasoline (RBK24 ) is down -0.35 (-0.13%). Crude and gasoline prices this morning are mixed. Middle East tensions are underpinning crude prices on concerns of escalation of the Israel-Hamas war. Israel has launched strikes against...

Oil and gas prices have been surging lately due to an improving demand outlook and persistent supply risks amid geopolitical tensions, creating tailwinds for the energy sector. Thus, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy (CVE), Weatherford International (WFRD), and Gulf Island Fabrication (GIFI)…

June WTI crude oil (CLM24 ) on Thursday closed up +0.76 (+0.92%), and May RBOB gasoline (RBK24 ) closed up +2.46 (+0.91%). Crude and gasoline prices recovered from early losses on Thursday and closed moderately higher. Short covering emerged in crude on Thursday when the dollar index fell to a...