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In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025.

Prices for U.S. crude also rose about 2 percent to above $71 a barrel. OPEC Plus had first announced in June that it would gradually increase production by an estimated 2.2 million barrels a day ...

In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025.

according to a statement posted on OPEC’s website on Sunday. They had already postponed the restart from October as faltering demand in China and swelling supplies from the Americas pressure prices.

ING and other forecasters had assumed the Saudis and OPEC would rather risk even lower prices with additional supply in order to regain market share. This clearly wasn’t the case. Therefore ...

“Concerns that OPEC was poised to oversupply a fragile market have been weighing significantly on sentiment,” RBC Capital Markets LLC analysts including Helima Croft said in a Nov. 3 note. “A ...