Crude oil futures posted their second straight weekly gain, boosted by bullish geopolitical developments, including U.S. strikes on Houthi rebel targets and Israeli strikes on Gaza, while the U.S.

This move aims to compensate for pumping above agreed levels, with monthly reductions ranging from 189,000bpd to 435,000bpd.

Output for December 2024 was revised lower by 110 kb/d and January 2025 output was revised higher by 28 kb/d compared to last ...

OPEC+ has announced a new schedule for seven member countries to implement additional oil output reductions to compensate for pumping above agreed levels.

Compensations until July 2026 will total 4.203 mln barrels per day. Plans were presented by seven out of eight OPEC+ countries that followed voluntary adjustments, specifically Iraq, Kuwait, Saudi ...

According to the chief executive of Vitol, Russell Hardy, the current developments in supply and demand could push oil prices ...