Oil prices jump despite OPEC+ announcing another sharp
4 days agoFutures Movers Oil prices jump despite OPEC+ announcing another sharp production hike Crude prices are expected to fall in the long term as Saudi Arabia and other big oil producers
OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling
The HillOPEC+ to increase oil production after long delay
A group of oil-producing countries known as OPEC+ will proceed with a long-delayed hike in oil production. Eight countries that have repeatedly delayed production increases will now move forward wi
OPEC output up 160,000 b/d, non OPEC down 30,000 b/d Growth in African, Iraqi production drive OPEC gains Alliance undershoots output targets by 907,000 b/d OPEC+ crude
togogazetteOPEC+ to gradually restore oil output with flexible adjustment
The eight OPEC+ countries that had previously undertaken voluntary production adjustments have reaffirmed their coordinated efforts to support global oil market stability in
4 days agoOPEC+ pumps about half of the world's oil and includes OPEC members and allies, such as Russia. Its increased supply is weighing on crude prices, squeezing all producers, but some more than others, including a key
The Economic TimesOil prices surge: OPEC+ production increase fuels oil surge
3 days agoOil prices saw a significant increase. This happened after OPEC plus countries decided to increase oil production. The increase was less than expected. Geopolitical tensions involving
The rise in Nigerian oil production and an increase in Iran's output despite U.S. attempts to curb Iranian flows pushed up the total OPEC production in February, according to the Reuters survey.
AfricaOPEC Reports Rise in Nigerian Crude Production Africa
With the production increase, Nigeria retained its position as Africa's largest oil producer, especially since its closest rival, Libya, faced production challenges due to major oil
Nigeria's crude oil production rose 70,000 barrels per day above its assigned OPEC quota in February 2025 ; The development was due to increased domestic demand and use by
NairametricsNigeria's crude oil production rises to 1.3 million bpd in July- OPEC
According to secondary sources, Nigeria's daily average crude oil production in June was 1.386 million barrels per day (bpd), marking an increase of 16,000 barrels compared to
October's Non-OPEC W/O US oil production rose by 211 kb/d to 39,449 kb/d. November's production is projected to rise by 213 kb/d to 39,662 kb/d. From December 2025 to
OPEC+ Takes Aim at U.S. Shale, Again OilPrice
The Reuters report suggesting OPEC+ wants to flood the market with cheap oil to hurt U.S. shale notes that OPEC's share of global oil supply had fallen over the last couple of
OPEC's October production rises Copy link to section OPEC's permanent members produced 26.54 million barrels per day of oil last month, up 466,000 barrels per day, the data
U.S. Energy Information Administration (EIA)What drives crude oil prices: Supply OPEC U.S. Energy
Historically, crude oil prices have seen increases in times when OPEC production targets are reduced. OPEC member countries produce about 40 percent of the world's crude oil.
According to OPEC's monthly oil market report released on Monday, total OPEC-13 crude oil production averaged 27.9 million bpd in October. Daily crude oil production rises to
- Why are oil prices rising?
- Opec Increases Production. Why Oil Prices Are Jumping Anyway. Oil prices were surging on Monday, driven higher by a flare-up in tensions between Russia and Ukraine and a lower-than-expected output hike by the OPEC+ cartel of producers.
- What does the crude oil market actually do?
- The crude oil market devotes considerable energy to what OPEC+ says, but perhaps a little less to what it actually does when it comes to the supply of the world's most important commodity.
- Will OPEC compensate overproduced volume?
- They also confirmed their intention to fully compensate any overproduced volume since January 2024 and to submit updated front-loaded compensation plans to the OPEC Secretariat by 15 April 2025 which will be posted on the Secretariat's website.
- Which oil companies edging higher Monday?
- Shares in oil majors were edging higher Monday. Chevron stock climbed 1.3% and Exxon Mobil stock rose 1.5% ahead of the U.S. opening bell. Futures tracking the S&P 500 were down 0.4%. Write to George Glover at george.glover@dowjones.com