crude

The eight nations of OPEC+ announced Sunday they will pause oil-production hikes in the first quarter of 2026, following a modest increase in December, as part of an effort to avoid a glut of crude.

The eight nations of OPEC+ announced Sunday they will pause oil-production hikes in the first quarter of 2026, following a modest increase in December, as part of an effort to avoid a glut of crude.

The spot Brent crude price jumped $5 in two days on the sanctions news but prices soon pared gains on expectations that Russian crude exports would ultimately find new ways to flow.

That might come in handy in the wake of the new sanctions the U.S. recently imposed on Russian crude.

He pointed out that U.S. crude prices traded up a bit more during Friday’s session than global benchmark Brent crude.