OPEC+ agrees another accelerated oil output hike for June

Africa: OPEC Approves Hike in Oil Production Despite Weak Prices

The Organisation of Petroleum Exporting Countries (OPEC) has agreed to increase oil production for the second time in two months, adding 411,000 barrels per day to its production quota in June.

Oil at cheapest in 4 years as Opec+ expedites output hike

Brent crude futures and U.S. West Texas Intermediate crude had settled at their lowest since February 2021 on Monday, driven by an Opec+ decision over the weekend to further speed up oil production hikes for a second consecutive month

Daily on Energy: OPEC+ latest, EU sets Russia cut-off date, and DOE delays rules for federal buildings - Washington Examiner

WHAT’S HAPPENING TODAY: Good afternoon and happy Cinco de Mayo, readers! OPEC+ decided to increase production for the second time over the weekend, causing prices to slump again this morning. Republicans are continuing their use of the Congressional Review Act this week to undo a number of Biden administration regulations and are now targeting rubber tire emissions standards.  Keep reading to find out when the European Union is hoping to end all…

Oil prices have crashed to 4-year lows. That means cheaper gas for Americans hitting the roads this summer.

Beata Zawrzel/NurPhoto via Getty ImagesOil prices dropped 2% on Monday to their lowest level since February 2021.The decline was sparked by OPEC's plans to increase oil supply by 411,000 barrels per day in June.Americans can expect gas prices to drop below $3 a gallon this summer, an analyst said. Oil prices are in free-fall, just in time for the busy summer driving season.US Crude prices dropped 2% on Monday to $57.10 a barrel, hitting the lowe…

By announcing an increase in its production in a depressed oil market, the cartel of producing countries seems to add disorder to the general chaos. But isn't that a signal in a world in the midst of transformation?

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

U.S. crude oil prices fell by more than 1 percent on May 5, after eight major energy producers agreed over the weekend to accelerate production. West Texas Intermediate (WTI), a U.S. benchmark for oil prices, tumbled by 1.5 percent to below $58 per barrel on the New York Mercantile Exchange. U.S. oil prices are down by 20 percent in 2025. Brent, the international benchmark for oil prices, erased about 1.3 percent to slide below $61 per barrel on…