OPEC

The Consumer Price Index increased .5% in July after rising .9% in June, and, in general, prices of all items rose 5.4% over the last year, according to the most recent Bureau of Labor Statistics report. What Happened: All indexed items increased in price, including shelter, food, energy and new...

One of the beauties of the crude oil market specifically, and commodity markets in general, is that active traders and investors only have one equation to analyze: supply versus demand. It’s a matter of looking at how much product is out there and how much of the supply consumers want right...

  OPEC and its allies reached a deal on Sunday to raise oil production in response to rising prices, and phase out 5.8 million barrels per day of oil production cuts by the end of 2022, Bloomberg reports.  This comes after a two-week spat between Saudi Arabia, and the United...

Though the week began on a soft note, it’s only natural to see a bit of a selloff after the record highs logged lately. It was also encouraging that the market bounced off its lows late yesterday. It was a pretty impressive comeback. Today could be a bit of a waiting game with everyone on the...

Diesel consumers looking at the results of this past weekend’s failure by the OPEC+ group to come to an agreement might be confused by the reaction. Historically, OPEC meetings that fail to reach agreement on production levels result in the price of oil falling, with traders anticipating that...

The United States Oil ETF (NYSE: USO) is trading lower by 1.9% on Tuesday morning despite crude oil prices hitting their highest level in six years. What Happened? West Texas Intermediate crude futures traded as high as $76.98 before pulling back to $75.15 in early trading. The peak represents...

As we begin June with a shortened trading week, let’s take a market minute to have a look at what’s to come. First, trends you should be watching include U.S. indices which remain bid at or near all-time highs; the U.S. Dollar starting to shows signs of weakness once again; gold’s...

The strong economic recovery throughout much of Asia is driving high demand for crude oil. Demand is expected to remain robust going forward, provided economic activity continues to rebound. Rising Demand Refiners in China are increasing imports of crude oil as they look to meet growing domestic...

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day in 1979, OPEC raised the price of crude oil by 9% from $13.34 to $14.55. Where The Market Was: The Dow finished the day at 854.82. The S&P 500 finished at 101...

Coverage of the OPEC+ group's decision Thursday to not increase crude production even after a more than $45 increase in prices since April inevitably featured one of two words: "shocking" or "stunning." Diesel markets may have played a role in the path that OPEC took.   Expectations going into...

The crude oil and diesel markets are entering 2021 on a bullish run, with the primary commodity exchange price of diesel just about where it was when the pandemic put the final dagger into prices in early March and with OPEC and its OPEC+ brethren shocking markets with a decision on further...

Crude prices and United States Oil Fund LP (NYSE: USO) are rising after the Oil and Petroleum Exporting Countries and allies (OPEC+) agreed to taper production cuts in January 2021 gradually. According to Bloomberg, the group members will hold monthly discussions to decide the next...

We begin this week much like how we ended last week, with investors focused on indices into or near all-time highs, coronavirus numbers on the rise, ecodata, and recent price activity in bitcoin, gold, and oil. We should begin with the U.S. indices at or near all-time highs, as well as global...

Crude oil prices have gained more than 11% during the week after news of Pfizer Inc. (NYSE: PFE) vaccine's efficacy on Monday. Rising COVID-19 cases have also raised hopes of the market with expectations of major oil producers holding off the planned crude oil supply increase until...