Stay updated with breaking news from John Kilduff. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
Crude oil futures hit their lowest levels since February as OPEC+ plans to phase out voluntary cuts, prompting concerns about oil prices and weakening demand growth.
OIL prices tumbled by US$3 a barrel on Monday (Jun 3) to their lowest in nearly four months, as investors worried that a complicated Opec+ output decision could lead to higher supplies later in the year even though demand growth has been slow.
/2024/05/27/779342897p.jpg)
Oil prices tumbled on Monday to their lowest in nearly four months
Oil futures fell as U.S. crude stocks dropped, but builds in gasoline inventories and a drop in gasoline demand raised concerns about fuel consumption.