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VanEck Vectors Oil Services ETF

OIH tracks a market-cap-weighted index of 25 of the largest US-listed, publicly traded oil services companies.

United States Brent Oil Fund LP

Invesco DB Oil Fund

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

iShares U.S. Oil & Gas Exploration & Production ETF

iPath Pure Beta Crude Oil ETN

Invesco Dynamic Oil & Gas Services ETF

ProShares Ultra Bloomberg Crude Oil

United States Oil Fund LP

SPDR S&P Oil & Gas Exploration & Production ETF

Oil markets gained upside momentum as traders focused on OPEC+ production cuts.

Natural Gas, WTI Oil, Brent Oil – Oil Moves Away From Session Lows Despite Economic Worries

The Energy Information Administration on Tuesday raised its oil-price forecasts for this year and next, and said it expects U.S. production to hit record highs as global supplies tighten following a decision by major oil producers last weekend to extend their production cuts through 2024.

EIA predicts record-high 2023 and 2024 U.S. oil output

U.S crude oil production this year will rise faster and demand increases will cool compared to prior expectations, the U.S. Energy Information Administration (EIA) said on Tuesday.

US 2023 oil output to rise more than previously expected, EIA says

Crude oil markets have fallen hard during the trading session on Tuesday as we continue to see a lot of noisy behavior.

Crude Oil Price Forecast – Crude Oil Markets Continue to Drop

Oil futures fell Tuesday, more than erasing the jump that followed Saudi Arabia's weekend announcement of a 1 million-barrel-a-day July output cut, as traders fretted over the global economic outlook.

Oil prices fall, erasing jump seen after Saudi production cut

Top crude exporter Saudi Arabia's one million barrel per day (bpd) oil output cut is unlikely to underpin a "sustainable price increase" into the high $80s-low $90s with weak fundamentals pointing to lower prices by year-end, Citi analysts said in a note on Tuesday.

Saudi output cut unlikely to lift oil prices to high $80s-low $90s, Citi says

WTI Oil prices slide as concerns about the global economic outlook overshadow Saudi Arabia's production cut.

Oil Price Forecast: OPEC+ Output Deal Boosts Market Optimism, but Global Economic Concerns Persist

Oil prices edged lower on Tuesday, giving up most of the prior session's gains that followed an announcement by the world's top exporter, Saudi Arabia, that it would further cut output.

Oil prices tick down with OPEC meeting in rear view

Oil futures climbed on Monday, with U.S. benchmark prices settling at their highest since May 26. Saudi Arabia on Sunday agreed to voluntarily cut its oil production level by 1 million barrels a day in July.

U.S. oil futures settle at their highest in more than a week

Oil markets jumped as OPEC+ decided to cut production but traders used the rally as an opportunity to take some profits off the table.

Natural Gas, WTI Oil, Brent Oil – Oil Pulls Back From Session Highs Amid Profit-Taking

U.S. crude oil exports, already running close to a record level hit in March, should get a further boost next month from deep production cuts in Saudi Arabia, analysts said on Monday, noting that this will also further deplete U.S. crude inventories, which have been hovering near historic lows.

US crude oil exports to gain tail winds from Saudi July output cut

Saudi Arabia's unilateral crude production cut may have excited "permabulls" but oil benchmarks haven't even capped their 50-day moving average on demand concerns.

Kneejerk Oil Price Rise Fails To Cap 50-Day Moving Average Despite Saudi Action

The outcome of a meeting this past weekend of major oil producers was somewhat surprising, but they may have expected to see a stronger climb in prices in the wake of Saudi Arabia's decision to voluntarily cut another 1 million barrels a day from its production level.

Saudi Arabia's planned oil cut could lead to ‘cracks' within OPEC+ — but not a spike in gasoline prices

The 10% reduction in output suggests Riyadh is willing to sacrifice market share to prop up prices.

Saudi Output Cut to Boost Oil Prices Could Be Costly

Goldman Sachs Physical Gold ETF

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(Kitco News) - Gold prices are modestly up and silver a bit weaker in midday U.S. trading Monday.

Gold gains as USDX slips, crude oil rallies

Consultancy Rystad Energy said the additional Saudi cut is likely to deepen the market deficit to more than 3 million barrels per day in July, which could push prices higher in the coming weeks.

Oil prices rise on fears of Saudi Arabia's biggest output cut in years

Oil futures rose after Saudi Arabia announced it would reduce crude output by an additional 1 million barrels per day beginning in July.

Oil Futures Gain as Saudi Arabia Signals More Output Cuts

Few traders feel the confidence to get bullish on oil as a commodity, and stock investors don't fully trust the data. Estimates from OPEC and the U.S. are viewed skeptically for good reason.

A Trust Problem Is Holding Down Oil Prices—and Stocks

Oil prices are in focus this morning after Saudi Arabia said it will lower production further from next month. Analyst reacts to the production cut Kingdom was the only constituent of OPEC+ that announced plans of cutting production by another one million barrels a day over the weekend.

Saudi Arabia to further cut oil production: ‘new norm will be $80 to $90'

In a surprising move, Saudi Arabia pledged to reduce its oil output by 1 million barrels per day for July at the June 4 OPEC meeting. This adjustment, which may continue monthly, places Saudi oil production at its lowest point in a decade, excluding the pandemic-induced slump.

OPEC Meeting: Is Saudi Arabia Trying to Squeeze the Oil Market?

Riyadh knows that it cannot rely solely on a fluctuating oil market for income. Along with its efforts to raise oil prices, it is also trying to bring in investment from abroad.

Saudi Arabia needs more than higher oil prices to fund its grand plans

Saudi Arabia will make a deep cut to its output in July in addition to a broader OPEC+ deal to limit supply to the end of 2024 as the group faces flagging oil prices.

Explainer: How OPEC+ deal cuts oil supply until end of 2024

Crude oil markets gapped higher to kick off the week after OPEC extends production cuts, and doubles down on trying to push prices higher.

Crude Oil Price Forecast – Crude Oil Markets Gap Higher

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Energy Select Sector SPDR Fund

In a surprise move, Saudi Arabia pledges to reduce its oil output further by a million barrels a day, causing a noticeable uptick in global oil prices.

Saudi Pledges Extra Oil Output Cuts: 4 Sector ETFs to Win

The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.

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