OPEC's Influence on Oil Prices Faces Uncertainty Amid Upcoming Meeting
TL;DR Summary
Oil prices are under pressure despite expectations of an OPEC+ deal extension, with Memorial Day failing to boost fuel demand and Brent futures facing another weekly loss. Key developments include ConocoPhillips' acquisition of Marathon Oil, Saudi Aramco's partial stake sale, and a US investigation into alleged OPEC collusion.
- Oil Prices Under Pressure Despite Expectations of an OPEC Deal Extension OilPrice.com
- OPEC to Meet Amid Signs of Waning Influence on Oil Prices The New York Times
- OPEC+ Meeting: Oil Traders See 70% Chance of No Change in Output Cuts Bloomberg
- OPEC+ working on complex production cut deal for 2024-2025, sources say Reuters
- Crude oil prices today: WTI prices are up 7.19% YTD USA TODAY
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