OPEC+ launched a major initiative to define maximum sustainable production capacity (MSC) by 2027, an iniative that could ...

Crude oil futures turned lower in a volatile session Wednesday, as a Bloomberg report said Saudi Arabia is open to additional significant OPEC+ production hikes after July in a bid for market share.

Oil edged lower in the early Asian session. There is a report “indicating that Saudi Arabia is exerting considerable pressure for a more aggressive increase in oil supply by OPEC+,” XS.com said.

Oil prices settled down just over 1% on Wednesday after US data showed surprisingly large build in gasoline and diesel inventories, swelling fuel supplies with Opec+ planning more output and trade ...

Oil and gas exports are a major source of income for the Kremlin, providing the federal budget with billions of pounds every ...

Oil futures gave back some of this week's gains in a volatile session. WTI settled down 0.9%, and Brent fell 1.2%. U.S. crude oil inventories fell by 4.3 million barrels, more than the estimated drop ...

Saudi Arabia lowered the July price of its Arab Light crude for Asian buyers after OPEC+ decided to accelerate output hikes.

Saudi Arabia wants OPEC+ to continue with accelerated oil supply hikes in the coming months as it puts greater importance on ...

Saudi Arabia, the world's biggest oil exporter, cut its July prices for Asian crude buyers to close to the lowest level in ...

VLCC spot rates have dropped further as a second quarter rally fades, brokers and analysts say. Earnings for eco tankers now stand at an average of $34,300 per day, down 7% from Tuesday and 25% ...

New oil industry data shows Powder River Basin wells breaking even at $60 per barrel as global market forces create ...

Oil Prices Flat as Market Weighs OPEC+ Output Hikes, Canada Wildfires Oil rose, and while the market has so far managed to absorb additional supply from OPEC+, continued production ramp up could lead ...