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Oil Prices Are Holding Steady. Why the OPEC+ Output Hike Isn’t a Problem.
The price of oil was stable on Monday despite a larger-than-expected increase in production by the Organization of the Petroleum Exporting Countries and its allies. Seasonal demand and doubts about the actual increase in output explain the muted reaction.
Crude oil shook off early negative reaction to the bigger than expected OPEC+ output increase to settle higher, as OPEC's ...
An oil drilling rig operated by Saudi Aramco, in Manifa, Saudi Arabia. OPEC+ members are currently cutting output by a total of around 5.85 million barrels a day. Photo: Simon Dawson/Bloomberg ...
Oil pared losses on Monday as a tight physical oil market offset the impact of OPEC+ hiking oil output more than expected in ...
Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the ...
OPEC+ is discussing a possible delay to an oil output increase planned for October, delegates said, after prices crashed to the lowest since last year. The group led by Saudi Arabia and Russia ...
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