The Latest Breaking News from OPEC

Hydrocarbon specialist Vaalco Energy represents an under-the-radar opportunity, especially as surprise oil production cuts bolster EGY stock.

Oil and economic experts confirmed that the voluntary oil production cuts taken by oil-exporting countries within OPEC+, starting May and continuing until the end of 2023, aim to achieve market balance. Mubarak Alhajeri, a faculty member at Kuwait's College of Technological Studies, explained that the cut had shocked global markets…

Oil rallied the most in more than a year after OPEC+ unexpectedly announced output cuts that threaten to tighten the market and deliver a fresh inflationary jolt to the world economy.

Oil-producing allies approved another oil production cut that could deal damage to the West.

Saudi Arabia's unpredictable crown prince is pushing hard to realign Middle East dynamics, engaging with old foes and orchestrating OPEC oil cuts like the ones on Sunday which took the global market by surprise.

In 2022, the U.S. sold an unprecedented level of its Strategic Petroleum Reserve, sending the SPY to the lowest level since December 1983. The sales weighed on crude oil but appeared to have set a floor under the energy commodity that continues to power the world.

The 48th Meeting of OPEC’s Joint Ministerial Monitoring Committee (JMMC) was held via videoconference on Monday. The Committee reviewed the crude oil production data for January and February 2023 and noted the overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.21%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.87%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.48%. U.S. stock indexes this morning are mixed, with the...

Some of the globe's biggest oil producers are cutting back