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Oil Surges By Highest Rate in a Year Following OPEC+ Output Cut

Oil rallied 8% on Monday, signaling its largest price increase over the past year. This came after the Organization of Petroleum Exporting Countries and its allies, including Russia, made an unexpected production cut. In a move that surprised markets, members of OPEC+ pledged to cut...
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Nasdaq, S&P Futures Fall Following OPEC+ Output Cut

Futures listed on the Nasdaq 100 and the S&P 500 declined on Monday amid concerns regarding persisting inflation as well as the decision of Saudi Arabia and other OPEC+ oil producers to further reduce oil output by about 1.16 million barrels per day, thereby...
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Oil Prices Expected to Go Up After Saudi Arabia and OPEC+ Agree to Cut Oil Production

Saudi Arabia and several other oil producers from OPEC+ have agreed to slash their oil production during a meeting over the weekend. The “voluntary decision,” which will cut the output by more than 1 million barrels per day, will remain in place until 2024. This...
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