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OPEC+ is expected to modestly raise July production targets by 411,000 bpd, but actual output increases will likely be smaller due to overproduction adjustments and operational issues in some countries.

Utilisation and rates have fallen, but if Opec continues pumping oil, countercyclical summer bump could still come

Hedge funds loaded up on the most bearish bets against Brent crude since October as the market braced for a fresh injection of OPEC+ supply.

Oil prices were stable on Friday, but on track for a second consecutive weekly decline, pressured by expectations of another OPEC+ output hike and uncertainty about U.S. tariffs after the latest legal twist kept them in place.

Traders should watch for inventory updates and any changes to OPEC’s strategy for further market direction. Overall, the outlook remains cautiously bearish. More Information in our Economic ...

Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers.

Brent crude futures settled down four cents at $64.74 a barrel, while U.S. West Texas Intermediate crude last traded at $61.53 a barrel, unchanged from the prior day’s session

Oil futures rebounded from the previous day’s selloff as the OPEC and non-OPEC ministerial meeting ended with agreement to keep quotas in place through 2026.