Wall Street Falls as Oil Prices Surge on Middle East Unrest
Wall Street continued its trading week in the red as oil prices rose sharply. Leading indexes in New York fell on Thursday.
Business
Venezuela considers leaving OPEC as U.S. influence over oil resources grows, Bloomberg says
Venezuela is considering leaving OPEC as the United States increases its influence over the country's oil resources, Bloomberg reports, citing sources.
Business
Symbolic increase in oil production in July as OPEC-plus agrees modest quota rise, Strait of Hormuz blockade prevents implementation
The largest members of the OPEC-plus oil cartel have agreed to a modest increase in their production quotas for July. However, a blockade of exports from the Persian Gulf prevents most of the countries from implementing the increase.
Business
United Arab Emirates leaves OPEC and OPEC-plus
The United Arab Emirates is leaving the OPEC oil cartel. The announcement temporarily pushed down the unusually high oil prices, but only marginally.
Business
OPEC+ agrees to symbolic production increase for May
The eight members of the OPEC+ oil cartel agreed on Sunday to increase production in May, delegates told Bloomberg on condition of anonymity. However, as things stand today, the increase is mostly symbolic.
Business
Halted rush in oil prices after Middle East unrest as refinery halts production and a tanker was hit
Oil prices are rising sharply, as expected, following unrest in the Middle East in recent days. However, the price surge has slowed. A major refinery has halted operations, and a tanker has been hit.
BusinessTop news
More oil production could push down gasoline prices
It could soon be cheaper to fill up your petrol or diesel tank. The world market price of crude oil is falling as a decision on increased production is expected ahead of this weekend's meeting of the OPEC+ cartel – where Russia and Saudi Arabia are holding the reins.
Business
Oil Demand Surpasses Expectations for 2026, Says IEA
Demand for oil in 2026 is estimated at 104.6 million barrels per day by the Paris-based International Energy Agency IEA. This is an increase compared to the previous forecast, which was 104.4 million barrels per day.
Business
OPEC and Russia to Discuss July Oil Production Levels
The heaviest actors in the Opec oil cartel and major oil countries like Russia are to decide on production volumes for July over the weekend. First, the situation on the oil market will be reviewed at a digital meeting on Wednesday.
BusinessTop news
Stockholm Stock Exchange Sees Volatile Day Amid Tariff Confusion
The Stockholm stock exchange plummeted by approximately 8 percent when trading began on Monday morning, but the prices recovered in the afternoon only to fall again in the final trading. The broad OMXS index closed at minus 4.8 percent.
Business
So the Saudis sabotaged the climate meeting
Saudi Arabia was a brake pad in the climate negotiations at the UN top meeting in Baku. The country's representatives changed directly in the negotiating texts, blocked attempts to intensify emission reductions and did not respond when countries wanted to talk.
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