OPEC+ shocked oil markets in April by agreeing to a bigger-than-expected output hike for May despite weak prices and slowing demand. OPEC’s de facto leader Saudi Arabia designed the move to ...

Oil prices slumped after the Organization of the Petroleum Exporting Countries and its allies agreed to a larger output hike for a second straight month despite weak prices and an uncertain demand ...

Oil prices slumped on Monday after OPEC+ countries announced a sharp production increase despite oversupply concerns and ...

JPMorgan also raised its global recession odds to 60% for the year, while S&P Global warned that oil demand growth could drop by as much as 500,000 bpd. OPEC+ justified the output hike by citing ...

Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed. The output increase of ...

LONDON/DUBAI (Reuters) -OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by ... take the total combined hike for April, May and June ...

Oil prices had already been slumping before OPEC+ members decided to increase output - Copyright AFP Patrick T. Fallon Oil prices had already been slumping before ...