OPEC

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 ...

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.   “...

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...

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...

Oil futures moved higher Monday, after the United States imposed fresh sanctions on Iran.  The U.S. new sanctions on more than 30 brokers, shipping companies and tanker operators for their role in transporting Iranian oil.  According to Reuters, ...

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...

We’re only a week into the New Year, but oil prices have been moving for most of 2025.  Oil prices were trading around $74 per barrel Monday, reporting some of the highest prices seen in several months.  So, why the sudden jump in crude prices?   “Now there's som...

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...

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...

Oil prices have been pulled in several directions over the past couple of weeks, but making very little movement one way or the other.  West Texas Crude was trading around $71 in Monday’s action.  Patrick DeHaan with GasBuddy.com says one of the bigge...