Oil prices tick back up as economies reopen, OPEC extends production cuts

Jun 8, 2020
Oil's recovery will depend on how the pandemic plays out, and whether there will be a second wave of illness.
The so-called OPEC+ club of producers agreed on Saturday to to extend oil production cuts into July.
Alexander Klein/AFP via Getty Images

Can even a deal to cut oil production increase prices amid COVID-19?

Demand for oil is falling so quickly that even a reduction in supply will take some time to affect markets.
Many shale oil companies can operate profitably with prices so low.
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Oil price war: U.S. drillers feeling immediate pain

Mar 9, 2020
How bloody the shakeout becomes likely depends on how long crude prices stay in the basement.
Joe Klamar/AFP via Getty Images

OPEC, Russia discuss large oil supply cuts in "demand emergency"

Mar 4, 2020
There was talk that OPEC and Russia might together cut the world's supply of oil by one million barrels a day.
Joe Klamar/AFP/Getty Images

To maintain oil prices, OPEC and Russia entertain further cuts to supply

Dec 4, 2019
Members of the OPEC coalition of oil producers meet tomorrow in Vienna to discuss an excess of oil supply. The group will be joined by Russia on Friday for further talks. That combined group, known as OPEC-Plus, previously agreed to…
A slowing worldwide demand for gasoline is leading to an excess in supply.
Justin Sullivan/Getty Images

Will oil price spike lead to higher prices at the pump?

Sep 16, 2019
A look at what a drone strike on oil reserves in Saudi Arabia could mean for consumers.
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Russia plays oil diplomacy card in Middle East

May 10, 2019
Russia has leveraged its oil and gas market power to enhance its influence in the Middle East, just as the U.S. is pulling back from the region.
Joe Klamar/AFP/Getty Images

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OPEC members comply with cartel, reduce oil production

Mar 18, 2019
When OPEC decides to restrict global oil supply and raise prices, it can become very tempting for some nations, particularly smaller producers, to break the pact and sell more oil. OPEC members and allies are currently meeting in Azerbaijan, and…
RYAD KRAMDI/AFP/Getty Images

A look at Venezuela's economy as Maduro begins his second term

Jan 10, 2019
An estimated 5 million Venezuelans have left the country due to high poverty rates.
Venezuelan President Nicolas Maduro delivers a speech during the ALBA Summit at the Miraflores Palace, in Caracas on March 17, 2015.
FEDERICO PARRA/AFP/Getty Images

OPEC fights falling prices with production cuts

Dec 7, 2018
Analysts say OPEC's decision is less about raising prices, and more about stopping them from falling further.