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OPEC+ is likely to keep oil production unchanged in June due to stable inventories and prices, but may rescind some previous cuts to avoid losing market share to non-OPEC producers. ....
(Bloomberg) Oil erased some of its losses after plunging Wednesday on a big jump in US crude inventories that added to concerns about weakening demand.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire EconomyJerome Powell Offered Markets a Reprieve. It Vanished in a Bli ....
(Bloomberg) Oil held a gain as an industry report showed shrinking US crude stockpiles, and traders tracked progress toward fresh sanctions against Iran.Most Read from BloombergTaylor Swift Is Proof That How We Critique Music Is BrokenTech Giants Roar as Tesla Spikes in Late Hours: Markets WrapTesla Stock in ‘No Man’s Land’ After 43% Rout Ahead of EarningsBiden’s New Chopper Is Demoted After Scorching White House LawnRay Dalio’s Famous Trade Is Sputtering, Investors BailingBrent was steady ab ....
Oil prices fell at Asia's open on Monday, dragged down by a renewed focus on market fundamentals, as Israel and Iran played down the risks of an escalation of hostilities in the Middle East after Israel's apparently small strike on Iran. The front month U.S. West Texas Intermediate (WTI) crude contract for May, which expires on Monday, fell 12 cents to $83.02 a barrel. On Friday, Chicago Federal Reserve President Austan Goolsbee became the latest central banker to signal a longer timeline for interest rate cuts because progress on inflation had "stalled". ....