NYSE:BNO

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$51.20
-1.28 (-2.44%)
At Close: Jun 05, 2026
OPEC+ on Sunday agreed to increase crude production in November by another 137,000 barrels a day, despite rising concerns of a global glut.
OPEC's modest output hike adds to global crude oil surplus fears. Traders eye $55.74 as the next key level in the oil prices forecast.

OPEC and Allies Agree to Boost Oil Production

08:55am, Sunday, 05'th Oct 2025
The Organization of the Petroleum Exporting Countries wants to regain market share lost to U.S. shale producers, Brazil and Guyana.
OPEC+ will increase oil output further from November when it meets on Sunday, sources close to the talks said, with Saudi Arabia pushing for a larger increase to regain market share and Russia suggest
Crude prices have fallen this year as Riyadh has raised output, but risks abound for the oil-producing kingdom.
The major crude-oil producers known as OPEC+ are expected to agree to another monthly hike in oil-output quotas at a meeting this week — despite expectations for a global supply surplus this year an
Oil traders stay cautious as OPEC+ may boost production to gain market share.
Eight OPEC+ countries are likely to further raise oil output on Sunday with the group's leader Saudi Arabia pushing for a large increase to regain market share and Russia suggesting a more modest rise
The crude oil market continues to see a bit of negative, as we cannot hold onto the gains at this point in time. The market looks as if it is going to struggle, and it is starting to look more and mor
Traders eye WTI's 61.8% Fibonacci support at $59.91. A break below could trigger heavy selling as oil demand wanes and surplus risks rise.
Oil prices rose slightly on Friday after four straight sessions of declines but were on track for their steepest weekly decline since late June due to market expectations that the OPEC+ group could hi
Oil faces steep weekly losses as OPEC+ weighs 500K bpd hike, while natural gas consolidates near $3.43 with buyers defending higher lows.
Video shows a large blaze at a Chevron refinery in El Segundo, in Los Angeles County, California. (Source: KABC) -------- More on Bloomberg Television and Markets Like this video?
Helima Croft, head of global commodity strategy at RBC Capital Markets and CNBC contributor, joins Fast Money to discuss oil market volatility ahead of the OPEC meeting, concerns over oversupply amid
Crude oil's failed breakout turned into aggressive selling, pushing prices toward Fibonacci support zones. Current weakness raises the risk of further downside before a potential reversal.
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