From cnbc.com | 2 hr 33 min ago
OPEC+ has agreed to a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling amid the gradual reopening of the Strait of Hormuz for oil exports. The oil-producing group agreed during an online meeting to increase quotas by 188,000 barrels per day from August, on ...
Oil prices have fallen back to where they were before the war. That in and of itself is remarkable - weve blown right through the $80-90 range Id anticipated as a holding point for at least a few weeks - and stems from the incredibly rapid normalization of oil tanker traffic through the Strait of Hormuz. Factoring in Saudi and UAE pipelines, supply of oil ...
The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 July 2026, to review global market conditions and outlook. In their collective commitment to support oil market stability, the seven participating ...
Bank economists are split on whether the Reserve Bank (RBNZ) will raise the Official Cash Rate (OCR) on Wednesday or hit the pause button for the fourth review in a row. The July Monetary Policy Review (MPR) is out on Wednesday, July 8, with the RBNZ to reveal if its Monetary Policy Committee (MPC) has decided to increase, hold or cut the OCR. The OCR is ...
The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 July 2026, to review global market conditions and outlook. In their collective commitment to support oil market stability, the seven participating ...
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