Crude oil prices fell by the most in a month Wednesday, pressured by mounting concerns of an oversupplied global market after OPEC said it now expects a balanced market in 2026, altering its earlier forecast of a deficit as non-OPEC production rises and ...

The cartel pledged to increase output by 206,000 barrels a day from next month, and said that members would “closely monitor and assess market conditions.”

The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold.

December WTI crude oil (CLZ25) today is down -2.14 (-3.51%), and December RBOB gasoline (RBZ25) is down -0.0400 (-1.99%). Crude oil and gasoline prices are falling sharply today, with crude matching a 3-week low. Signs of global supply glut are weighing on ...

HOUSTON (Reuters) -Oil prices fell more than $2 a barrel on Wednesday, weighed down by an OPEC report saying global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit. Brent crude ‌futures ...

Stock markets plunged and oil prices surpassed $100 per barrel today amid the US war in Iran. How high will crude oil get? See the latest predictions.

OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of U.S. and Israeli strikes on Iran and kept its forecasts for relatively strong global oil demand growth this year.

From “A Barrel of Oil or a Bottle of Wine: How Do Global Growth Dynamics Affect Commodity Prices?” That’s provoked a reaction over at the Wall Street Journal: “The working paper buries the long-held view that OPEC can move prices up and down solely ...

OPEC+ production hike is unlikely to weigh on prices. US-Iran conflict is the dominant issue, pricing in $10/bbl risk premium. Strait of Hormuz blockade could send Brent crude prices surging. Oil prices are unlikely to feel any significant pressure even if OPEC and its allies slightly raise production in April.

VIENNA, Austria — OPEC oil ministers agreed Wednesday to trim overall output by more than 500,000 barrels a day in a compromise meant to avoid new turmoil in crude markets while seeking to bolster falling prices. The news sparked a rebound in oil prices.