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$140.86
+3.59 (+2.62%)
At Close: Jun 03, 2026
OPEC+ announces modest boost in oil production. But here's why it's a mostly symbolic move.
03:55pm, Sunday, 03'rd May 2026
In a largely symbolic move, the OPEC+ nations announced Sunday that they would slightly increase crude production in June, as the war with Iran continues to stifle the world's supply of oil.
Oil News: OPEC Production Hike Won't Move Market Until Strait Opens
03:41pm, Sunday, 03'rd May 2026
OPEC+ raised output for June but it means nothing while the Strait of Hormuz stays closed. The talks are stalled, inventory draws are real, and the risk stays skewed to the upside.
U.S. crude oil exports surge to record as tankers flock to Gulf Coast during Iran war
07:08am, Sunday, 03'rd May 2026
U.S. crude oil exports surged to a record 5.2 million barrels per day in April, according to data from commodities data firm Kpler. Exports are surging as buyers in Asia and elsewhere seek U.S. crude
OPEC+ announces 188,000 barrels-per-day output increase in first meeting without UAE
06:58am, Sunday, 03'rd May 2026
OPEC+ says it will raise oil output by 188,000 barrels per day in June. It was the cartel's first meeting since the shock departure of the United Arab Emirates last week.
OPEC+ set to agree third oil output quota hike since Hormuz closure, sources say
03:58am, Sunday, 03'rd May 2026
OPEC+ is set to agree on Sunday a modest oil output hike, sources said, but the increase will remain largely on paper as long as the U.S.-Iran war continues to disrupt Gulf oil supplies.
Russia Oil Exports Keep Flowing Despite Ukrainian Attacks
12:00pm, Saturday, 02'nd May 2026
Kyiv's audacious campaign of strikes has had only a modest impact on the gusher of oil money that has shored up Moscow's finances amid the Iran war.
Iraq says oil output, exports can recover within a week once Hormuz crisis ends
11:31am, Saturday, 02'nd May 2026
Iraq can restore oil output and exports to normal levels within seven days of the end of the crisis over the Strait of Hormuz, Deputy Oil Minister Basim Mohammed said on Saturday.
America's biggest oil companies are making less money than before the Iran war
08:30am, Saturday, 02'nd May 2026
Even once the Strait of Hormuz reopens, it will take months for oil and gas flows to get back to normal, Exxon and Chevron warn.
OPEC+ agrees in principle on small oil output quota hike without UAE, sources say
06:42am, Saturday, 02'nd May 2026
Seven OPEC+ countries have an agreement in principle to raise oil output targets by about 188,000 barrels per day in June, pressing on with plans despite the departure of the UAE, two sources
Trump Auto Tariffs and Iran Oil Shock Raise Global Market Risk
05:39am, Saturday, 02'nd May 2026
Trump's proposed 25% tariff on EU cars and trucks and the U.S.-Iran oil shock could raise inflation risks, push Treasury yields higher, pressure European auto stocks, and challenge the U.S. stock mark
Gold maintains strong fundamentals despite oil shock
07:36pm, Friday, 01'st May 2026
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include cover
Big Oil Stays the Course Despite Historic Dislocation in Energy Markets
05:13pm, Friday, 01'st May 2026
Exxon, Chevron and other companies are navigating the worst shortfall in supplies in decades. Yet they're sending more cash to shareholders than investing in oil fields.
Chevron CFO Bonner on Earnings, Buyback and Oil Prices
04:02pm, Friday, 01'st May 2026
Chevron CFO Eimear Bonner says the company's portfolio is resilient to recent geopolitical risks. Speaks on "Bloomberg The Close," Bonner also comments on the company's buyback strategy and rising oil
Exxon Mobil CEO: It will take one to two months for oil supply to reestablish after the strait opens
03:30pm, Friday, 01'st May 2026
Oil flows from the Persian Gulf will take a month or two to normalize even after the strait reopens, Exxon CEO Darren Woods told CNBC on Friday.
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Trump Rejects Iran's Proposal
02:53pm, Friday, 01'st May 2026
Oil traders bet that U.S. – Iran negotiations will continue over the weekend.
