Oil Falls After OPEC+ Signals Plan to Return Barrels to Market

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OPEC News

Bloomberg,West Texas Intermediate,Saudi Energy Ministry

(Bloomberg) -- Oil extended losses after OPEC+ set out a plan to return some barrels to the market this year.Most Read from BloombergHomebuyers Are Starting ...

Key Engines of US Consumer Spending Are Losing Steam All at OnceBrent dropped below $81 a barrel after a three-day decline, and West Texas Intermediate traded near $77. Production cuts will continue in full in the third quarter and then be gradually phased out over the following 12 months, the Saudi Energy Ministry said after OPEC+’s weekend meeting.

Futures are still higher this year after geopolitical tensions from the Middle East to Ukraine raised concerns about supply. Israel has pushed back on a cease-fire plan laid out by US President Joe Biden, as the war in Gaza approaches its eighth month.Israel Seeks Underground Secrets by Tracking Cosmic Particles

Jennifer Lopez has had quite a week. The singer and actress has battled more than a few demons both personal and professional in the past seven days or so—and the tense looks in the photos that have emerged from her comings and goings have only highlighted what a tough week it must have been for the star.

Ryan Reynolds Says His Kids with Blake Lively Also Hold Passports for Another Country: 'Point of Pride'

 

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Oil Falls After OPEC+ Signals Plan to Return Barrels to MarketOil extended losses after OPEC+ set out a plan to return some barrels back to the market this year.
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