NYSEARCA:OIH

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$414.70
-24.27 (-5.53%)
At Close: Jun 05, 2026
Oil prices climbed in early Asian trade on Monday after OPEC+ decided to hold off production hikes in the first quarter of next year, easing rising fears of a supply glut.
Oil rose after OPEC and its allies agreed to boost oil production by 137,000 barrels a day in December, but said they wouldn't increase production in first three months of 2026 due to seasonality.
The eight nations of OPEC+ announced Sunday they will pause oil-production hikes in the first quarter of 2026, following a modest increase in December, as part of an effort to avoid a glut of crude.

The Global Tug-Of-War That Sets Oil Prices

01:15pm, Sunday, 02'nd Nov 2025
Contrary to popular belief, oil prices aren't determined by any one country, company, or cartel. Instead, they're the product of a global tug-of-war among producers, traders, and policymakers.
The move caps a dramatic month in oil markets, riven by concerns of a supply glut and uncertainty over sanctions on Russian producers.
Eight OPEC+ countries on Sunday agreed to raise oil output in December by 137,000 barrels per day and then to pause the output hikes for the first quarter of 2026, OPEC+ said in a statement.
OPEC+ is set to agree on Sunday on another modest increase in oil output targets, three sources familiar with the talks said, as the producers' group moderates plans to regain market share due to risi

China Is Filling Up Its Oil Reserves Fast

10:00pm, Saturday, 01'st Nov 2025
The cushion could protect the country from any short-term supply disruptions related to new U.S. sanctions on Russian crude.
Crude oil prices fall as supply risks fade and OPEC+ considers a modest output hike. Traders eye inventory data and demand signals heading into next week.
Oil traders bet that OPEC+ will not raise production aggressively.
Escalating U.S. tensions with Venezuela and an upcoming monthly decision by major oil producers on crude output targets were the focus of traders heading into the weekend.
Francisco Blanch, Bank of America head of commodities and derivatives research, joins CNBC's 'Money Movers' to discuss outlooks on oil.
Oil continues to consolidate with limited direction as traders test an earlier gap tied to sanctions headlines. Expect resistance near $62 and $65, with fading rallies likely amid oversupply and weake
OPEC+ will likely agree on Sunday another small hike in oil output targets for December, three sources familiar with the talks said, as the group moderates its drive to regain market share amid predic
Goldman Sachs Head of Oil Research Daan Struyven says the global oil supply will keep growing. He says oil prices could drop by another $10 per barrel over the next year.
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