OPEC

Price at the Pump: OPEC Is Targeting Shale
Price at the Pump: OPEC Is Targeting Shale
Price at the Pump: OPEC Is Targeting Shale
Members of the media are reporting that OPEC could announce another bigger than expected production hike at its next meeting.  The goal, according to a new Reuters report, is OPEC is trying to kill the U.S. shale industry.  OPEC took aim at U.S. shale about a decade ...
Price at the Pump: Two Steps Forward, Three Steps Back
Price at the Pump: Two Steps Forward, Three Steps Back
Price at the Pump: Two Steps Forward, Three Steps Back
The seesaw action of oil prices continues, as West Texas and Brent traded slightly higher in Tuesday morning's action; $62 and $65 per barrel respectively.  Patrick DeHaan with Gasbuddy.com said oil prices remain challenged compared to where they started the year.   “...
Price at the Pump: OPEC To Produce More Oil, Prices Drop
Price at the Pump: OPEC To Produce More Oil, Prices Drop
Price at the Pump: OPEC To Produce More Oil, Prices Drop
After weeks of speculation, OPEC made it official this weekend, announcing they will restore oil production at a faster clip than expected.  Patrick DeHaan with Gasbuddy.com said the increased production will start in June.   “Raising production by over 400,000 barrels a day," DeHaan noted.  "OPEC has really b...
Price At The Pump: Tariffs Not The Key Issue Driving Oil Prices
Price At The Pump: Tariffs Not The Key Issue Driving Oil Prices
Price At The Pump: Tariffs Not The Key Issue Driving Oil Prices
After months of turbulence, oil prices have been relatively quiet over the past week-plus, hovering around the low-$60 per barrel mark for West Texas Crude, and mid-$60s for Brent.  Patrick DeHaan with Gasbuddy.com says for the first time in months, tariffs and trade are not the issues impacting oil and fuel prices.  He said...
Price At The Pump: Oil Prices Moved Higher On Presidents' Day
Price At The Pump: Oil Prices Moved Higher On Presidents' Day
Price At The Pump: Oil Prices Moved Higher On Presidents' Day
Oil prices were holding steady, to up slightly in early Tuesday trade, following Monday’s jump higher, thanks to a drone attack on a pipeline reducing flows from Kazakhstan.  Both West Texas and Brent crude were trading slightly higher in Tuesday’s trade, at around $71 and $75 per barrel respectively.  CNBC noted the dron...
Oil Prices Steady As Fuel Prices Continue To Move Lower
Oil Prices Steady As Fuel Prices Continue To Move Lower
Oil Prices Steady As Fuel Prices Continue To Move Lower
We’re starting to sound like a broken record, but oil prices really haven’t moved that much over the past week or so.  Patrick DeHaan with Gasbuddy.com said a barrel of West Texas Crude has traded in the high-$60 to low-$70 range since Thanksgiving.  And he doesn’t expe...
Oil Glut Possible In 2025
Oil Glut Possible In 2025
Oil Glut Possible In 2025
After weeks of steady decline, oil prices ticked higher to start the week.  Patrick DeHaan with Gasbuddy.com said West Texas Crude increased about 2% in Monday’s action, trading around $69-$70 per barrel.  He said oil prices have perked up a bit after fighting between Ukraine and Russia intensified over the weekend.   “Russia, sending...

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