Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. Bloomberg | Bloomberg | Getty Images The prominent OPEC+ oil producers’ alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia’s energy minister. “Central banks, with all respect, they’re flip-flopping … Read more
OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy. Bloomberg | Bloomberg | Getty Images The influential Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, on Sunday agreed to extend their official crude … Read more
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty Images Saudi state oil giant Aramco commenced its … Read more
An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images U.S. crude oil was on pace Friday for its worst month of the year, ahead of an OPEC+ meeting this weekend during which the cartel will review its production levels. U.S. oil is down … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on the first trading day of 2024 on Jan. 2, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images The oil-producing Organization of the Petroleum Exporting Countries and its allies could extend existing output cuts this week, delegates and analysts told CNBC, even as focus shifts from Middle East tensions to summer demand. … Read more
Traders work on the floor of the New York Stock Exchange during afternoon trading on Jan. 22, 2024 in New York City. The Dow Jones and S&P both hit all time highs with the Dow Jones closing over 38,000 points for the first time ever as stocks continue to rise. Michael M. Santiago | Getty … Read more
The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Hamad I Mohammed | Reuters Saudi Arabia’s state-controlled Aramco said it would sell some $11.5 billion worth of additional stock in an offering that … Read more
An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images Four years ago, Exxon Mobil’s reign as the longest serving component in the Dow Jones Industrial Average came to an abrupt end, when the oil major was replaced by Salesforce … Read more
An oil pumpjack is pictured in the Permian Basin in the Loco Hills region, New Mexico, on April 6, 2023. Liz Hampton | Reuters U.S. crude oil was little changed Thursday but is on pace for its worst month of the year and a second consecutive monthly loss. U.S. crude oil is down 3.2% in … Read more
