ENERGY

Oil prices are sliding this morning (after yesterday's gains) as traders anxiously await tomorrow's high-stakes OPEC+ meeting (supply), and weighed signs that the Fed is done raising interest rates (demand).

The producer group is expected to set policy for 2024, but has yet to resolve a dispute over output quotas for some African members, according to delegates.

API reported overnight that crude inventories declined (and so did Cushing stocks) for the first time in six (more…)

Oil prices rallied for the first time in five sessions as traders shrugged off early OPEC+ rumors to ramp back to last week's highs.

Which way the oil market breaks will largely depend on if OPEC+ can "show continued unity as a group and commitment to ' stable' (or really 'higher') prices over the long run," analysts at Sevens Report Research wrote in Tuesday's newsletter.

For now, all eyes are on the inventory data for signs of strength after (more…)

What would an OPEC+ meeting week be without the parade of strawman, market-testing headlines dropped to gauge traders' stress levels.

OPEC is set to hold an online meeting on Thursday, ahead of OPEC+ meeting later in the day to decide future oil production policy, a source said according to Reuters.

The meeting, which was postponed two days ago, is rescheduled at 4:00 PM KSA on Thursday according to a draft agenda seen by the news agency.

This morning, Reuters reports (more…)