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OPEC Newswire

  • Published on May 2, 2025

    Chevron to slow pace of share buybacks as Trump tariffs and OPEC+ production weigh on oil prices

    Chevron will slow the pace of its share buybacks, as falling crude prices hit the oil major's first-quarter profit. U.S. crude oil prices have dropped about 18% this year as President Donald Trump's tariffs are expected to weigh on demand at the …

    Source: CNBC - Neutral
  • Published on May 2, 2025

    Exxon Mobil earnings beat as production growth and cost cuts offset the sting of falling oil prices

    Exxon Mobil reported first-quarter earnings Friday that beat Wall Street expectations, but declined from the prior year as crude oil prices have fallen sharply on fears that President Donald Trump's tariffs will hit global demand. The oil major said …

    Source: CNBC - Neutral
  • Published on May 2, 2025

    Oil Markets Enter May on the Back Foot

    Crude oil futures tumbled over the past week, falling more than 6% as concerns over weakening global demand and a resurgent supply outlook weighed on sentiment.  Friday, May 02, 2025 China, preparing for a week-long lull in trading activity, has …

    Source: Oil Price - Neutral
  • Published on May 2, 2025

    Oil Crash in April Worst Since 2021: 4 High-Yield Passive Income MLPs Are On Sale

    Investing lagereek / Getty Images The April meltdown in the oil patch was likely a scenario many top analysts and most of Wall Street did not see coming. Every possible item that could weigh on the spot price of the major oil benchmarks came to pass. …

    Source: 24/7 Wall St. - Neutral
  • Published on May 2, 2025

    Crude Oil Prices Climb on Trade Optimism and Supply Concerns

    Crude oil futures rose this week as renewed hopes for U.S.–China trade negotiations eased concerns over global energy demand, while geopolitical tensions added upward pressure on prices. Market sentiment improved after Beijing confirmed it is reviewing a …

    Source: News Ghana - Indeterminate
  • Published on 00:20 GMT

    Oil posts biggest weekly loss in a month ahead of Opec+ meeting

    [NEW YORK] Oil prices fell more than 1 per cent lower on Friday (May 2) and recorded their biggest weekly losses since the end of March, as traders turned cautious ahead of an Opec+ meeting to decide the group’s output policy for June. US West Texas …

    Source: The Business Times Singapore - Neutral
  • Published on May 2, 2025

    Goldman Sachs sees 410,000-bpd hike in OPEC+ June supply

    (Reuters) - Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle …

    Source: Yahoo Finance - Pending
  • Published on May 2, 2025

    Oil edges up as China opens door for trade talks with US

    Oil prices inched up on Friday after China said it was open for talks with the United States on tariffs, raising hopes of a de-escalation in a bitter trade war between the world’s two largest economies and oil consumers. Brent crude futures were up 9 cents …

    Source: Hellenic Shipping News - Neutral
  • Published on May 2, 2025

    Oil prices fall as traders adjust ahead of OPEC+ meeting and U.S.-China trade talks

    Oil prices dropped on Friday as traders adjusted their positions ahead of an upcoming OPEC+ meeting and with caution surrounding a potential de-escalation in the U.S.-China trade dispute. Brent crude futures declined by 56 cents, or 0.9%, to $61.57 per …

    Source: Profit by Pakistan Today - Neutral
  • Published on May 2, 2025

    Oil falls as Opecplus meeting change heightens supply glut concerns

    OIL slumped as Opec+ pulled forward a meeting to weigh further production increases, inflaming concerns about swelling global supplies that have dragged down crude prices this year, reports Bloomberg. West Texas Intermediate futures slipped more than 1 per …

    Source: Gulf Daily News Online - Pro-Government
  • Published on May 2, 2025

    AAA: Quiet Week at Pump as Gas Prices Fluctuate Slightly

    WASHINGTON, D..C – The national average for a gallon of regular saw few changes over the past week, going up slightly to $3.18, according to a report by the American Automobile Association (AAA). Even though this is the time of year when we typically see …

    Source: RV Business - Neutral
  • Published on May 2, 2025

    OPEC+ to meet on Saturday to set June output policy, sources say

    Eight OPEC+ countries will meet on Saturday to decide whether to agree a further accelerated oil output hike for June or make a smaller increase as originally planned, two sources with knowledge of the matter told Reuters on Friday. The meeting was …

    Source: Hellenic Shipping News - Neutral
  • Published on May 2, 2025

    OPEC Moves Up Meeting To Discuss Oil Production Quotas

    By Julianne Geiger of OilPrice.com The OPEC+ members currently participating in voluntary production cuts will meet this Saturday, May 3, instead of Monday, May 5, according to Kpler’s Amena Bakr on X. The call is set for noon Vienna time, with the agenda …

    Source: Zero Hedge - Right-wing
  • Published on May 2, 2025

    Oil Futures Dip on Tariffs and Abundant Supply Expectations

    The planned output hikes by some OPEC+ members are fanning global oversupply concerns given lackluster demand growth in China, amplified by the ongoing trade dispute, and robust non-OPEC production increases. Production discipline has led to OPEC sitting …

    Source: Progressive Farmer - Neutral
  • Published on May 2, 2025

    Japan’s crude oil imports in structural decline, dependence on Middle East grows

    Japan’s crude imports are in structural decline. The country is increasingly dependent on Saudi Arabia and the UAE, according to Vortexa. The decrease in Japan’s crude imports from 2022 to 2024 can be attributed to falling domestic demand for …

    Source: Hellenic Shipping News - Neutral
  • Published on May 2, 2025

    Oil companies to implement P0.80/l rollback next week

    Consumers can expect a rollback in pump prices next week by as much as P0.80 per liter, following two consecutive weeks of oil price hikes. Department of Energy Oil Industry Management Bureau (OIMB) Director Rodela Romero said that based on four-day …

    Source: Manila Standard - Pro-Government
  • Published on 00:57 GMT

    Oil stable on US-China de-escalation hope

    Listen to article LONDON: Oil prices were stable on Friday and heading for a weekly loss, as traders squared positions ahead of an OPEC+ meeting, and showed caution over the possibility of a de-escalation of the trade dispute between China and the United …

    Source: The Express Tribune - Indeterminate
  • Published on May 2, 2025

    Middle East Crude-Benchmarks rebound; focus on OPEC+ meeting

    Middle East crude benchmark spot premiums of Oman, Dubai and Murban rose on Friday, following a sharp decline earlier in the week that sent them to a seven-week low. A threat from U.S. President Donald Trump to impose secondary sanctions on buyers of …

    Source: Hellenic Shipping News - Neutral
  • Published on May 2, 2025

    Exxon Q1 Revenue Hit By Oil Price Slump, But Output Helps Cushion Blow

    Exxon said strong output in the Permian Basin and Guyana and ongoing cost-cutting measures helped blunt the impact of weaker pricing. Exxon Mobil (XOM) shares edged 1% higher in premarket trading Friday after the oil major posted first-quarter earnings …

    Source: Asianet Newsable - Pending

03 days 01:35:37

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  • Published on April 30, 2025 - 13:40 GMT

    Oil Prices Dip Due to Trade Tensions, Supply Concerns

    (MENAFN) Oil prices continued their downward trajectory on Wednesday, pressured by fears of weak demand due to the ongoing trade war between the U.S. and China, and growing worries about an oversupply in the market. Brent crude, the international benchmark …

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  • Published on April 30, 2025 - 13:37 GMT

    Oil Prices Drop Amid Trade Tensions

    (MENAFN) Crude oil values declined once again on Wednesday, pressured by growing anxieties over weakened consumption, largely driven by escalating trade tensions between the United States and China—the globe’s two largest petroleum importers. Additionally, …

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