OPEC, crude oil
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Oil steadied as traders weighed a large increase in US crude stockpiles and a wave of new tariff rates from President Donald Trump. Meanwhile senior officials from three of OPEC's core producer nations,
Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of next week’s trade.
The Energy Information Administration (EIA) of the U.S. Department of Energy recently released its forecast for OPEC’s daily crude oil production in 2026, projecting a steady increase to 33.08 million barrels per day.
Saudi Arabia's drive to rapidly increase OPEC+ oil output may put Riyadh in the pole position to regain market share today while also solidifying its dominance over the long term.
2don MSN
Crude oil prices declined after OPEC agreed to raise production by 548,000 barrels per day in August. Oil prices also came under pressure as US officials flagged a delay on tariffs but failed to provide details on the change.