Tag: OPEC
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Brent Crude Tumbles to Five Month Low on Oversupply Concerns
Brent crude futures plunged two percent to below $62 a barrel on Tuesday, hitting their lowest level in five months as traders confronted mounting...
OPEC+ Cautious Output Hike Signals Lingering Market Anxiety Over Demand
Oil markets got a dose of measured reassurance Sunday when OPEC+ agreed to boost production by just 137,000 barrels per day starting in November,...
OPEC+ holds output hike to 137,000 barrels as Saudis, Russians bridge divide
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) has agreed to raise November oil production by just 137,000 barrels per day,...
Exxon Mobil Cuts 2,000 Jobs Globally as Oil Sector Downturn Deepens
Exxon Mobil Corp will lay off 2,000 workers globally as part of a long-term restructuring plan, affecting about 3% to 4% of the company's...
Oil Markets Navigate Fed Rate Cut Uncertainty Amid Mixed US Inventory Signals
Oil prices experienced notable volatility during Wednesday's trading session, reflecting market uncertainty following the Federal Reserve's latest monetary policy decision. The Fed cut reduces...
