Oil futures headed higher on Wednesday after OPEC+ agreed to reduce output by 2 million barrels a day, and U.S. data revealed a second straight weekly decline in crude supplies. Read more
Tag: Production
Key panel recommends OPEC+ cut oil production by 2 million barrels a day: reports
A key panel on Wednesday recommended that the Organization of the Petroleum Exporting Countries and its allies cut oil production by 2 million barrels a day, according to news reports. Read more
French industrial production rebounded in August
French industrial production rose in August, showing resilience in most sectors despite slowing demand and high price pressures. Total industrial output–comprising output in manufacturing, energy and construction–rose 2.4% on month, Read more
Nvidia closes Russian offices, will fly relocating employees out of the country, report says
Chipmaker Nvidia is ending its activities in Russia, and is giving its employees in the country the opportunity to relocate. In a statement, Nvidia Corp. NVDA, +4.79% confirmed that it Read more
Opinion: Stock markets will drop another 40% as a severe stagflationary debt crisis hits an overleveraged global economy
NEW YORK (Project Syndicate)—For a year now, I have argued that the increase in inflation would be persistent, that its causes include not only bad policies but also negative supply shocks, and that central Read more
Oil ticks higher ahead of OPEC+ meeting that could bring production cuts
Oil futures rose Tuesday, extending gains a day ahead of a meeting of the Organization of the Petroleum Exporting Countries and their allies that’s expected to consider a large production Read more
Micron faces ‘unprecedented’ supply issues, and analysts are split on if the bottom has been hit
Micron Technology Inc. is dealing with an “unprecedented” oversupply problem, but whether it gets worse or better in the near-term is up for debate. However, analysts had different ideas about Read more
OPEC+ could cut oil production because it’s trying to halt a sharp crude selloff
Oil prices notched their fourth monthly loss in a row, leading to speculation that major oil producers next week will make a fresh move to set a floor under prices Read more
Oil lifted as traders weigh possible OPEC+ production cut
Oil futures rose Friday, lifted by the prospect of a production cut by the Organization of the Petroleum Exporting Countries and their allies next week. However, crude was still set Read more
Oil edges higher as Hurricane Ian forces production cuts
Oil futures moved modestly higher Wednesday after Hurricane Ian forced temporary production cuts in the Gulf of Mexico. Price action West Texas Intermediate crude for November delivery CL.1, +0.60% CL00, Read more