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00:02Seven OPEC Plus producers agreed Sunday to unwind 188,000 barrels per day
00:08of voluntary cuts starting June 2026, as crude held above $100, according to Benzinga.
00:15Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman agreed Sunday to increase
00:22production by 188,000 barrels per day in June 2026 by unwinding part of the voluntary cuts
00:30introduced in April 2023.
00:32The United Arab Emirates said it will exit OPEC and OPEC Plus effective on May 1st after nearly
00:3860 years.
00:40The country plans to raise output to 5 million barrels per day by 2027 from about 3.4 million.
00:47Oil prices jumped overnight after Trump's national security team expressed skepticism
00:52about Tehran's offer to halt fast attack boat operations in the Strait of Hormuz in
00:57exchange for lifting a U.S. naval blockade.
01:01Goldman Sachs raised its fourth quarter 2026 Brent forecast to $90 and warned of a potential
01:07supply deficit tied to Hormuz disruptions.
01:09For all things money, visit Benzinga.com.
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