The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

Hedge funds loaded up on the most bearish bets against Brent crude since October as the market braced for a fresh injection of OPEC+ supply.

OPEC+ is reportedly considering a larger-than-planned oil production increase for July in response to Kazakhstan's refusal to comply with output cuts.

Oil drillers in the U.S. shale heartland are slowing down operations, a sign that OPEC's high-stakes price war is starting to pay off, but Saudi Arabia will need to exert a lot more pain to make a lasting impact on market share.

The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

Oil edged down after a choppy session as traders parsed mixed messaging on the status of trade talks between the US and China.Most Read from BloombergNYC Congestion Toll Brings In $216 Million in First Four MonthsNow With Colorful Blocks,

Kazakhstan has informed OPEC that it does not intend to reduce its oil production, Russia's Interfax news agency cited Kazakhstan's Deputy Energy Minister Alibek Zhamauov as saying on Thursday. "We have already told OPEC that we are not going to cut back and we will produce at our capacity,

Libya’s Minister of Oil and Gas, Khalifa Abdul Sadiq, has participated in the 191st ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC). He also took part in the 39th OPEC+ ministerial meeting,

Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers.

Crude prices remain rangebound as traders await decisive signals from OPEC+ and policy shifts, despite bullish inventory data and escalating supply risks.