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OPEC+ is pumping more oil, but is it needed and at what price?

Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce?

UPI on MSN · 1d

OPEC+ to boost crude oil production in August

The eight OPEC+ nations on Saturday agreed to increase their crude oil production by 548,000 barrels per day starting in August.

The Wall Street Journal on MSN · 2h

Oil Futures Take OPEC+ Output Increase in Stride

Crude oil futures were lower and OCBC said prices were expected to face further downward pressure in 2H following OPEC+’s announcement to quicken supply hikes.

1hon MSN

Exxon, Chevron, Shell, BP Stocks Fall. OPEC Oil Plans, Gas Trading Fears Are Biting.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of ...

Ukrainian News55m

Oil reacts sharply to OPEC's unexpected decision on production

Oil prices fell after OPEC+ countries unexpectedly announced a more significant increase in oil production in August than ...

1d

Oil News: Will OPEC Production Surge Sink Crude Oil Futures This Week?

Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of ...

1h

Summer gas prices are headed even lower, as Saudi Arabia accepts the 'lesser evil' of cheap oil

Gas could get even cheaper this summer. Supachai Panyaviwat/. OPEC+ is boosting oil output, tanking prices as US summer ...

2hon MSN

Oil Pares Losses as Market Shrugs off Larger OPEC+ Output Hike

Despite concerns over excess supply, oil prices overturned declines from earlier in Monday’s session, as downside risks appeared contained.

Oil Market Defies OPEC+ Output Surge, Braces for Tariff Uncertainty

The oil market showed resilience, overcoming the initial shock of OPEC+'s larger-than-anticipated output increase for August.

19h

OPEC’s new supply shock locks in oil market's return to surplus

The latest oil supply shockwave unleashed by OPEC+ is set to swell a surplus later this year, pressuring prices for producers ...

OPEC Reports a Global Oil Production Decline in 2024

Global oil production fell by 1% in 2024 while demand continued to grow, widening the supply gap, OPEC reported.

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