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The Latest Breaking News from OPEC

Stock Market Today - 7/6: Stocks End Higher After Fed Minutes, Yield Curve Inversion Flash Recession Warning

An extended inversion of the U.S. Treasury yield curve, the market's go-to recession indicator, has heaped added pressure on the Fed.

The Street

OPEC secretary general Barkindo dies unexpectedly at 63

Vienna (AFP) - OPEC Secretary General, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, it was announced on Wednesday, leaving the oil cartel without a head at a tumultuous time for the markets.

AFP

Stocks Steady, Fed Minutes, Oil, Amazon And Boris Johnson In Focus - Five Things Know

Stock futures steady, yield curve inverts as recession fears linger; Fed minutes in focus as growth bets quickly fade; Oil prices higher, OPEC secretary general Barkindo dies at 63; Amazon takes small stake in Grubhub and Boris Johnson faces latest political crisis as senior ministers resign.

The Street

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OPEC secretary-general is dead, Nigerian officials announce

Nigerian authorities have announced that the Secretary-General of the Organization of Petroleum Exporting Countries has died

The Independent UK

Opec secretary-general dies 'unexpectedly'

Organization of the Petroleum Exporting Countries (Opec) secretary-general Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the Opec+ alliance, has died in his native Nigeria, according to officials.

Bangkok Post

OPEC Secretary-General Barkindo Dies

OPEC's Secretary-General Mohammad Barkindo has died, Mele Kyari, the chief executive of Nigerian National Petroleum Corp said on Wednesday. Barkindo, who was 63 years old, was due to step down at the end of this month after six years as OPEC's secretary-general, Reuters reported. "We lost our esteemed Dr.

Asharq Al-Awsat

Oil Prices Slip as Recession Fears Rumble On, Tight Supply Stems Losses

Oil prices fell on Monday, paring gains from the previous session, as fears of a global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia. Brent crude futures for September slipped 36 cents, or 0.3%, to $111.27 a…

Asharq Al-Awsat

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Saudi Arabia swings again -- but for how long?

Fluctuating Chinese demand has contributed to this year's volatility in international oil prices. But the latest evolution on the supply side will have immediate geopolitical and financial implications that go well beyond the oil market. Specifically, Saudi Arabia has returned as the most important swing producer and thus the most…

Bangkok Post

OPEC+ to Maintain Slight Output Hike in August

OPEC+ agreed on Thursday to stick to a planned oil output hike this summer but avoided discussing policy from September onwards as prices have risen on tight supplies and worries that the group has little ability to pump more. The group, which comprises the Organization of the Petroleum Exporting Countries…

Asharq Al-Awsat

Oil Prices Ease on Recession Fears, Headed for 3rd Weekly Loss

Oil prices eased on Friday as lingering fears of a recession demand weighed on sentiment, putting the benchmarks on track for their third straight weekly losses. Brent crude futures were down 20 cents, or 0.2%, at $108.83 a barrel by 0428 GMT, giving up earlier gains of over $1. WTI…

Asharq Al-Awsat

Stocks and oil sink on recession fears

New York (AFP) - World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded after an OPEC decision to proceed with a limited boost to output.

AFP

Stocks sink on recession fears, oil slips

London (AFP) - World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded after an OPEC decision to proceed with only a limited boost to output.

AFP

OPEC+ stays the course on oil output boost

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia stuck to a previously decided output boost on Thursday, despite calls for bigger increases to tame crude prices.

AFP

Stocks sink on recession fear, oil slips before OPEC

London (AFP) - World stock markets mostly sank Thursday on intensifying recession fears, while oil prices receded before an OPEC output decision.

AFP

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AFP

OPEC+ tipped to stay the course on oil output boost

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost on Thursday, despite calls for bigger increases to tame crude prices.

The Independent UK

OPEC+ may not be much help with high oil, gasoline prices

Oil prices are high, and drivers are paying more at the pump

AFP

OPEC+ expected to stay course on oil output boost

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at their meeting on Thursday, despite pressure to further increase production.

Investors Business Daily

Stock Market Bounces But IBD 50, Small Caps Lag; This Stock Takes A Bath

The stock market rebounded moderately after Tuesday's sell-off, as investors watched new comments from Fed Chairman Jerome Powell.

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Asharq Al-Awsat

UAE’s Production Near Maximum Capacity Based on OPEC+ Baseline

The United Arab Emirates' oil production is near to maximum capacity based on its current OPEC+ production baseline, which is 3.168 million barrels per day, Energy Minister Suhail al-Mazrouei told state news agency WAM on Monday. “In light of recent media reports, I would like to clarify that the UAE…

Investors Business Daily

OPEC+ Sticks To Script, While Crude Oil Prices Fall In June

Oil-producing nations met as world leaders focus on how to drum up supply amid inflation and recession fears.

Reuters

Macron tells Biden that UAE, Saudi can barely raise oil output

French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production.

The Conversation

Sanctions against Russia: taking stock four months after the start of the war

On 23 February – the eve of Russia’s invasion of Ukraine – the Council of the European Union (EU) adopted the first package of sanctions in response to Moscow’s recognition of the self-proclaimed autonomous republics of Donetsk and Lugansk.

The New Daily

OPEC meeting and Australian retail sales top this week’s must-watch events

Oil cartel OPEC+ meets this week to discuss its production plans. It comes at a critical time for the crude oil market amid growing fears of a recession.

Asharq Al-Awsat

Oil Rises in Volatile Trading amid Supply Uncertainty

Oil prices edged higher amid a volatile trading session on Friday, as supply uncertainty outweighed fears of slower demand from cooling US economic activity. Brent crude futures climbed 31 cents, or 0.3%, at $110.36 a barrel by 0630 GMT, while US West Texas Intermediate (WTI) crude futures were up 59…

StockNews.com

XOM Surged More Than 40% YTD, Is It a Better Buy Than SHEL?

Given a demand-supply imbalance in the energy sector, rising prices should benefit integrated oil and gas companies Exxon Mobil (XOM) and Shell (SHEL). XOM gained 43.6% year-to-date versus SHEL’s 17.1%. But which of these stocks is a better buy now? Read more to find out.

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