CVX,SHEL,BP: Oil Prices Slip on Fears of Extra OPEC+ Supply and U.S. Debt

CVX,SHEL,BP: Oil Prices Slip on Fears of Extra OPEC+ Supply and U.S. Debt

Detailed price information for BP Plc ADR (BP-N) from The Globe and Mail including charting and trades.

Oil Slips to Weekly Lows on Prospect of Another Super-Sized OPEC+ Boost

Oil prices extended a three-day slide as OPEC+ members weighed a third consecutive super-sized supply boost. Delegates reported that the group is considering raising output by 411,000 barrels per day from July—roughly triple the initially scheduled 137,000 bpd—and that any approval at the June 1 meeting would mark the third straight month of extra production. […]

Oil prices fell 1% on Friday and were on track for their first weekly decline in three weeks after U.S. President Donald Trump recommended 50% tariffs on European Union imports. Separately, expectations grew that OPEC+ would increase crude output in July, Reuters reported on Friday. Brent crude futures fell 64 cents, or 1%, to $63.80 a barrel by midday.

Crude Oil Prices Post First Weekly Loss In Three Weeks On Supply Outlook

Crude oil prices declined for the fourth consecutive session on Friday, capping the week with the first overall loss in three weeks, as expectations of further supply increases by the OPEC+ alliance continued to weigh on market sentiment. Brent crude futures dropped by 22 cents or 0.3% to settle at $64.22 per barrel while U.S. West […] The post Crude Oil Prices Post First Weekly Loss in Three Weeks on Supply Outlook appeared first on Investors K…

Oil Heads for First Weekly Loss Since April on OPEC+ Supply Hike Expectations - Energy News, Top Headlines, Commentaries, Features & Events

Summary Brent, WTI down 2% on the week Market braces for another OPEC+ output hike in July Iranian nuclear deal talks in focus, fifth round on Friday (Reuters) – Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by rising expectations ...

Oil prices head for first weekly loss since April on prospect of OPEC+ supply hikes Brent and WTI crude fell more than 2%, their first weekly decline in three weeks. OPEC+ is considering a 411,000-barrel per day increase in output.