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The Latest Breaking News from OPEC

New York (AFP) - Oil prices jumped Monday on expectations of an OPEC output cut, while weak US data sent stocks higher amid rising hopes central banks may be able to ease off interest rate hikes.

AFP

‘Significant risk’ of winter gas shortages in Great Britain, warns Ofgem

Electricity-producing firms ask regulator to change rules that could penalise them if gas supplies run out

The Guardian - UK

OPEC+ Makes Largest Production Cut Since 2020, Oil Prices Drop

OPEC+ agreed Wednesday to cut production by 2 million barrels per day (bpd), the largest reduction since April 2020, as the cartel aims to keep oil prices high amid low global inventories. The Organization of the Petroleum Exporting Countries and its key allies including Russia, known as OPEC+, decided to…

Investors Business Daily

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Oil jumps, European stocks wobble on Credit Suisse fears

London (AFP) - Oil prices jumped Monday on expectations of an OPEC output cut, while European stocks wobbled on fears over the health of Swiss bank Credit Suisse.

AFP

OPEC+ tipped to make big cut in oil output

London (AFP) - Major oil-producing nations led by Saudi Arabia and Russia are expected to make this week their biggest output cut since the start of the Covid pandemic in efforts to buttress prices.

AFP

Oil Jumps More Than $3 as OPEC+ Weighs Output Cut

Oil prices jumped by more than $3 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic. Brent crude futures rebounded $3.37, or 4%, to $88.51 a…

Asharq Al-Awsat

Europe stocks sink on Credit Suisse fears; oil jumps

London (AFP) - European stocks sank Monday on fears over the health of Swiss bank Credit Suisse, while oil jumped on expectations of an OPEC output cut.

AFP

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Stocks Higher, Credit Suisse, Tesla, OPEC+, and Jobs Friday In Focus - Five Things To Know

Stock futures higher; Credit Suisse shares plunge; Tesla boasts a record quarter; OPEC+ promises to tighten the taps; Jobs Friday in focus for the week.

The Street

OPEC+ to consider output cut of more than 1 million barrels

The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.

Tribune News Service

OPEC+ to Hold Oct. 5 Meeting in Person in Vienna

OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some delegations due to the short notice if they are unable to. OPEC+, which combines OPEC countries with allies such as Russia, is…

Asharq Al-Awsat

OPEC+ Has Begun Talks on Output Cut - Source

Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct.

Asharq Al-Awsat

3 Energy Stocks to Buy Right Now if You’re a Long-Term Investor

Russia is likely to propose a significant reduction in output at the next OPEC meeting. Amid the supply crunch, JPMorgan expects Brent to head toward $100 a barrel in the coming months. Hence, fundamentally strong energy stocks Valero Energy Corporation (VLO), Marathon Oil Corporation (MRO), and APA Corporation (APA) might…

StockNews.com

Crude oil prices fall amid recession concerns

PTT reveals Q3 oil analysis

Bangkok Post

The Best Momentum Stock to Buy Before September Ends

Shares of crude oil exploration company Marathon Oil (MRO) have garnered significant investor attention and gained more than 124% over the past year. In addition, the company’s solid financials and profitability make it well-positioned to deliver handsome gains in the near term. Therefore, it could be wise to invest in…

StockNews.com

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AFP

2 Americans, 5 Brits among POWs transferred from Russia to Saudi

Riyadh (AFP) - Ten prisoners of war from countries including the United States and Britain have been transferred to Saudi Arabia as part of an exchange between Russia and Ukraine, the Gulf state said Wednesday.

The Street

Why Oman Crude Could Meet Asia’s Growing Demand for Oil

China is increasing its reliance on oil from the Middle East, with imports from the region growing in Q1 2022. That has accelerated the need for reliable sour crude futures contracts.

Birmingham Post

Cornish finance chief - What will Liz Truss do for us?

Peter McGahan, chief executive of Truro-based independent financial adviser Worldwide Financial Planning asses the potential costs of Prime Minister Liz Truss' policies

Reuters

U.S. does not have infinite patience on renewal of Venezuela talks - official

A U.S. State Department official put pressure on Venezuela leader Nicolas Maduro in a congressional hearing on Thursday, threatening more sanctions if talks with the opposition on resolving the country's long-running political and economic crisis are not renewed.

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StockNews.com

4 Energy Stocks You Can Still Buy for Under $20 in 2022

The G7 imposing price cap on Russian oil could raise energy prices in winter. Moreover, the Biden administration is considering refilling its strategic reserves to support prices. And considering OPEC’s upbeat demand outlook, the energy stocks Cenovus Energy (CVE), Birchcliff Energy (BIREF), Amplify Energy (AMPY), and MV Oil (MVO) which…

The New Daily

‘Good deal’: Petrol prices plunge to eight-month low before fuel tax sting

Australian petrol prices have plunged to an eight-month low over the past week, delivering much needed cost of living relief to motorists.

The Street

Gasoline Prices Fall for 12 Weeks as Demand Rises

Gasoline prices are anticipated to continue their decline, energy analysts said.

Investors Business Daily

Stock Market Rally Revives, With Solar Sector Shining Bright; Apple iPhone 14 Unveiled: Weekly Review

The market rally is coming back from the brink, but still faces key resistance. Solar stocks are leading. Apple unveiled the iPhone 14.

Asharq Al-Awsat

Saudi Energy Minister: OPEC+ Does Not Target Specific Price Range

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that OPEC+ did not target specific prices or price ranges, but rather sought to support market stability and balance supply and demand for the benefit of the petroleum industry. Prince Abdulaziz, who chairs the ministerial committee in the OPEC+ alliance, told an…

The Guardian - UK

Big oil and Opec are holding the world to ransom – it’s time to rein them in

The UN’s call for windfall taxes must be taken up by governments to help break the power of greedy cartels

Asharq Al-Awsat

Kuwait’s Long-Time Parliament Speaker Bows Out of Sept. Elections

Kuwait's parliament speaker Marzouq al-Ghanim said he would not run in legislative polls this month, a day before the deadline for submission ends. Kuwait will hold early elections on Sept. 29 after the crown prince appointed a new prime minister and dissolved parliament in a bid to resolve the feud…

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