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Oil Prices Sink as Investors Bet Against OPEC Cut

12:58pm, Wednesday, 31'st May 2023
Demand has been falling, along with oil stocks. The Energy Select Sector SPDR ETF dropped 8.6% in the past month.
The Organization of the Petroleum Exporting Countries with Russia and other allies, or OPEC+, meet on June 4 to discuss whether additional oil production cuts should be implemented.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, are known as OPEC+ and will meet in Vienna, Austria, on June 4 to discuss their joint output policy.
The crude oil markets have fallen rather hard early during the trading session on Wednesday, as the market has broken below the $68 level in the WTI grade, and the $72 level in the Brent market.
Oil prices will creep up from current levels as major producer group OPEC+ maintains restrictions on supplies, but economic headwinds will keep them below $90 a barrel this year, a Reuters poll showed
WTI crude oil prices drop on China's weak data, US debt bill impact, and OPEC+ uncertainty
Helima Croft, RBC Capital Markets, joins 'Last Call' to talk oil prices ahead of the next OPEC+ meeting where another cut could be on the table.
Oil prices edged up on Wednesday after steep losses in the prior session, as market participants awaited an expected vote on a bipartisan deal to lift the $31.4 trillion U.S. debt ceiling.
The Schork Group Principal Stephen Schork joins Yahoo Finance Live anchors Seana Smith and Akiko Fujita to discuss oil prices amid the debt ceiling debate, China's Covid crisis, and OPEC+ uncertainty.
Ed Morse, Citi global head of commodities, joins 'Closing Bell Overtime' to break down oil's recent drop below $70 per barrel.
U.S. oil futures declined on Tuesday, settling below $70 a barrel for the first time since early May. “We've seen oil prices slide back again as investors look towards the next stage of the U.S. deb
Oil markets gained strong downside momentum and tested multi-week lows.
Oil prices fell on Tuesday after scoring a gain for the week on Friday as traders waited for the outcome of a meeting of the Organization of the Petroleum Exporting Countries and its allies that is se
Oil prices rose on Tuesday as the expectations the debt ceiling deal in U.S., the world's biggest oil user, will spur more demand but fears of further interest rate rises and that OPEC+ will leave out
OPEC will welcome back Iran's full return to the oil market when sanctions are lifted, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC) told the Iranian oil minist
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