OPEC's production cut is a win for oil stocks

The White House isn't very happy with OPEC's decision to slash oil production by 2 million barrels per day. Consumers won’t be big fans either, as the move will likely send gas prices higher. But...

The Radical Plans To Counter High Oil Prices

The Radical Plans To Counter High Oil Prices By Alex Kimani of OilPrice.com The latest OPEC+ output cuts for November mean it’s back to the drawing board for the White House and a...

OPEC was always going to mess with oil prices. Was Biden’s team naive?

President Joe Biden meets Saudi Crown Prince Mohammed bin Salman at Alsalam Royal Palace in Jeddah on July 15, 2022. | Royal Court of Saudi Arabia/Anadolu Agency via Getty Images Maybe...

Oil prices have surged 13% in 5 days for their biggest weekly gain since March

WTI oil futures were looking at a nearly 13% weekly gain, with the push starting in anticipation of a decision by OPEC and its allies to cut production.

No, OPEC's Oil Production Cut Isn't Joe Biden's Fault

The analysts (including myself) and journalists who cover the global oil markets sometimes mistake market developments for a game of Risk with two or more masterminds playing for mastery of the board.

Swiss National Bank won't tolerate above-target inflation -Jordan

ZURICH - The Swiss National Bank (SNB) will not accept Swiss inflation above its target of 0-2%, Chairman Thomas Jordan said, adding that tolerating a steeper rate of price rises could mean even...

No Surprise That OPEC-Plus Sides With Russia Over Biden In Oil Market

OPEC-plus's headline-grabbing decision to cut production by 2 million barrels per day in November is a slap in the face to President Joe Biden and other Western leaders.

Jittery Futures Coiled Tightly Ahead Of Today's Jobs Report Main Event

Jittery Futures Coiled Tightly Ahead Of Today's Jobs Report Main Event S&P futures rebounded from an overnight drop and swung between gains and losses as investors looked forward to...

Futures Movers: Oil prices on track for big weekly gains after OPEC+ production cuts

Oil futures extend gains early Friday, on track for solid gains after OPEC+ earlier this week agreed to cut output.

Oil target cuts free up capacity in case of crises, OPEC head says

Fri, 2022-10-07 13:51 DUBAI: Oil output target cuts agreed by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will leave producers more supply to tap in the...

OPEC's production cut is a win for oil stocks

The White House isn't very happy with OPEC's decision to slash oil production by 2 million barrels per day. Consumers won't be big fans either, as the move will likely send gas prices higher.

OPEC's production cut is a win for oil stocks

The White House isn't very happy with OPEC's decision to slash oil production by 2 million barrels per day. Consumers won’t be big fans either, as the move will likely send gas prices higher. But...

OPEC+ output cut decision to sustain markets, not raise prices: Saudi Energy Minister

Fri, 2022-10-07 13:37 RIYADH: Saudi Arabia’s Minister of Energy has insisted an agreement to cut oil production by two million barrels per day was made to sustain markets, not to raise...

Marketmind: A 'bad news is good news' kind of day?

A look at the day ahead in U.S. and global markets from Dhara Ranasinghe. This week a lot of "bad news is good news" talk has been banded around markets -- and with good reason. Think about...

French wine output to rise 18% after early harvest

PARIS - Wine production in France this year should reach 44.6 million hectolitres, 18% above last year's frost-ravaged output, the farm ministry said on Friday as harvesting that started early...

What OPEC's latest move means for Biden and Putin

Gas prices are probably going to start rising again. OPEC and some of its fellow oil-producing countries in the expanded alliance known as OPEC+ — a group that includes Russia — this week...

Will the OPEC decision to cut oil production further hurt U.S.-Saudi relations?

NPR's Leila Fadel talks to ex-U.S. Ambassador to Yemen Gerald Feierstein about the U.S.-Saudi relationship after OPEC decided to cut oil production. President Biden was disappointed by the decision.

STOCK MARKET NEWS:Jobs report on tap, futures cautious, oil higher

incoming update… U.S. equity futures were trading mixed ahead of the release of the most anticipated economic report of the month - the September employment report. The major futures indexes...

Output target cuts free capacity that could help in oil crises, OPEC head says

DUBAI - Spare oil production capacity freed up by the latest OPEC+ cuts to output targets could allow the alliance to intervene in the event of any crises in oil markets, OPEC Secretary General...

The U.S. Is Preparing Its Response To The "Short-Sighted" Strategy Of OPEC

The United States is considering “response options” in its relations with OPEC+ members and its de facto leader Saudi Arabia. “As to the relationship going forward, we’re reviewing a number of...

There’s only one problem with this week’s Big Oil politics

This week’s 2-million-barrel OPEC cut, while generating ferocious political headlines, barely moved the needle in oil markets.

IMF warns of higher recession risk and darker global outlook

The International Monetary Fund is lowering its projections for world economic growth. The IMF says the world economy will grow by 0.5% to 0.7% this year. The world economy is expected to grow by...

Marketmind: Get the munchies, pass on the chips

A look at the day ahead in European and global markets from Ankur Banerjee Samsung and AMD became the latest to flag a steep downturn in chip demand as people and companies tighten their belts...

Here are the five things you need to know about Friday's trading

JOBS REPORT: This week’s key economic report, September’s employment data out Friday morning, should provide investors with some idea of the impact that higher borrowing costs are having on...

Putin's path: from pledges of stability to nuclear threats

As he turns 70, Russian President Vladimir Putin finds himself in the eye of a storm of his own making: His army is suffering humiliating defeats in Ukraine. Hundreds of thousands of Russians are...

Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?

OPEC announces it will pump two million fewer barrels a day. Vice President Biden had vowed to make Saudi Arabia a "pariah" The decision comes just weeks before midterm elections that could turn...

U.S. Takes Aim at OPEC for Oil Production Cuts

President Biden said options are being weighed, but “we haven’t made up our minds yet” as the output cut threatens to push energy prices higher again weeks before the midterm elections.

Biden's Secret Promise To OPEC Backfires: Shellenberger

Biden's Secret Promise To OPEC Backfires: Shellenberger Submitted by Michael Shellenberger, In early September, United States Secretary of Energy, Jennifer Granholm, told Reuters that...

As Madison gas prices continue soaring, restaurant increases delivery charge: 'It's just left us with no option' -...

Statewide, Wisconsinites are paying an average of $4.056 for a gallon of regular unleaded gas. All of southern Wisconsin, except for Vernon County, is seeing average prices of at least $4 per...

Asian stocks retreat on global recession angst; dollar firm

By Kevin Buckland TOKYO - Asian stocks declined on Friday, extending a global equity slide to a third day, as investors fretted over recession risks amid signs of further aggressive central bank...

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