Energy news

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Dude, where’s my oil?

OPEC+ agrees to increase output The most anticipated OPEC+ meeting of the year turned out to be a damp squib in the end. OPEC+ agreed to increase output in July and August to 648,000 bpd from the previously agreed 432,000 bpd, with the increased allocation spread across all its members, including, you guessed it, Russia.

03-06-2022 03:56 GMT by Jeffrey Halley

Oil surges after modest OPEC+ boost and bullish EIA report, gold surges

Oil The Saudis pulled it off again. They managed to keep both the Russians and Americans somewhat happy, while boosting production targets without triggering a collapse in oil prices. The oil market will still remain tight given the production boost is modest at best. Hikes for both July and August will be 50% higher at 648,000 bpd.

02-06-2022 16:12 GMT by Edward Moya