ProShares Ultra Bloomberg Crude Oil

UCO provides 2x the daily return of an index of futures contracts of WTI crude.

United States Brent Oil Fund LP

ConocoPhillips

Chevron

Invesco DB Oil Fund

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

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

VanEck Vectors Oil Services ETF

iPath Pure Beta Crude Oil ETN

Invesco Dynamic Oil & Gas Services ETF

United States Oil Fund LP

Exxon Mobil

SPDR S&P Oil & Gas Exploration & Production ETF

The OPEC announcement over the weekend was widely seen as a plan to add back production from members' current coordinated cuts.

Exxon, Chevron, Conoco Stocks Extend Declines Along With Oil Prices

Oil futures fell Tuesday, extending a slide that took crude to its lowest close in four months in the previous session triggered in part by OPEC+'s decision to begin unwinding some production cuts later this year.

Oil prices extend slump triggered by OPEC+ move to phase out some production cuts

Bearish crude oil outlook fueled by weakening demand, potential OPEC+ supply hike later in 2024, and rising inventories.

Crude Oil News Today: Supply Fears Trump OPEC+ Cuts

Assuming domestic oil production has reached its limit for now, the U.S. could pose less of a threat to OPEC+ market share moving forward.

Why U.S. oil production isn't a huge threat to OPEC+ market share anymore

Oil prices hit a four-month low as OPEC+ signals reduced production cuts, triggering fears of increased market volatility and weak demand.

Natural Gas and Oil Forecast: Prices Plunge as OPEC+ Cuts, More Selling Ahead

West Texas Intermediate (WTI), a proxy for U.S. oil prices, fell more than 3% to a near-four-month low on Monday as investors fretted over a complex Organization of the Petroleum Exporting Countries and allies (OPEC+) decision on Sunday that left the door open for voluntary cuts to be gradually unwound.

WTI Oil Sinks to Multi-Month Low Amid Concerns Over Voluntary OPEC+ Cuts

Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year.

Oil prices extend losses on worries of supply rising later in 2024

According to OPEC+ plan, the group could boost production by 500,000 bpd by December 2024.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives As OPEC+ Plans To Phase Out Production Cuts

The crude oil market fell a bit in the early hours on Monday, as the market is seemingly at a crossroads. This is a market that has to be watched closely, as the major support barrier underneath is in focus in both markets we follow.

Crude Oil Price Forecast – Crude Continues to Fall

OPEC+ extended 3.6 million barrels per day in production cuts through the end of 2025. OPEC+ members will phase out 2.2 million bpd in voluntary cuts over 12 months starting in October.

Oil prices little changed after OPEC+ extends output cuts

Oil producers cartel OPEC+ agreement at the weekend might be bearish for crude prices even though deep oil output cuts were extended well into 2025, said analysts. OPEC+ members are cutting output by a total of 5.86 million barrels per day including 3.66 million agreed and 2.2 million bpd of voluntary cuts due to expire at the end of June 2024.

OPEC+ weekend meeting bearish for crude price, analysts conclude

Brent crude oil prices have rebounded to $81.05 per barrel this Monday, stabilizing after recent selling pressure. The market's focus now turns to the outcomes of the OPEC+ meeting held over the weekend, where members agreed to extend collective production cuts until the end of 2024.

Brent Crude Oil Rebounds To 81.05 USD Amid OPEC+ Agreements

Oil futures traded lower early Monday after swinging between gains and losses as traders assessed a decision by OPEC+ to extend cuts by the group into 2025 but to begin unwinding some additional, voluntary reductions later this year.

Oil prices choppy after OPEC+ plans to begin phasing out voluntary cuts in Q4

The group agreed to extend cuts of 3.66 million barrels per day by a year until the end of 2025. It will also prolong the cuts of 2.2 million barrels per day by three months until the end of September.

Oil prices slip despite OPEC+ production cut extension

The OPEC+ alliance has agreed to extend output cuts through next year, likely keeping prices high through the November presidential election.

OPEC agrees to keep oil production cut, likely maintaining high prices through November election

The OPEC+ alliance, which includes Saudi Arabia and Russia, two of the world's Top 3 oil producing countries, met in Riyadh, Saudi Arabia at the 37th OPEC and non-OPEC Ministerial Meeting. The group reaffirmed their commitment to the Declaration of Cooperation (DoC) and extended oil production levels until the end of 2025.

OPEC+ Extends Production Cuts Into Next Year

OPEC+ oil group awaits concrete interest rate cuts before factoring impact on demand: Saudi energy minister

OPEC+ agreed on Sunday to extend production cuts in an effort to support oil prices in the face of worries about global demand and rising U.S. output, but will begin to phase out some voluntary reductions after the third quarter.

OPEC+ agrees to extend oil-production cuts in effort to boost prices

The influential Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, on Sunday agreed to extend its official crude output agreement into 2025. The coalition will produce a combined 39.725 million barrels per day next year, according to a table published by the OPEC Secretariat.

Oil alliance OPEC+ extends production agreement into 2025

The deal comes the same day Saudi Arabia launches a share sale for Aramco, yielding billions for the country's economic transformation.

OPEC+ Agrees to Extend Production Cuts in Bid to Boost Oil Prices

OPEC+ will likely prolong voluntary oil cuts into the third and possibly fourth quarters of 2024 and extend some cuts into 2025, two OPEC+ sources said ahead of the group's meeting on Sunday.

OPEC+ seen prolonging cuts in 2024 and into 2025, two sources say

Despite moving Sunday's oil output decision-making meeting online, several OPEC+ ministers plan to fly to Saudi Arabia's capital Riyadh, two OPEC+ sources said.

Some OPEC+ ministers heading for Riyadh for oil output meeting, sources say

As crude oil trading in May reaches its conclusion and OPEC+, a select group of Russia-led oil producers and the Organization of the Petroleum Exporting Countries (OPEC) spearheaded by Saudi Arabia, convenes to discuss its production levels, an interesting bit of data has emerged.

OPEC+ Gets Crumbs Of Comfort From 15% Uptick In India's Monthly Oil Demand

U.S. oil drillers are sticking to pledges to temper spending on boosting output, keeping the world's top crude producer on course for slower growth in 2024 in what may ease pressure on OPEC+ to make further supply cuts this weekend.

US oil producers maintain modest growth as OPEC+ eyes extended cuts

Saudi Arabia has invited OPEC+ oil ministers to Riyadh to hold their June 2 policy meeting to discuss a complex deal that may extend deep oil production cuts into 2025, sources from the producer group told Reuters on Friday.

News for ProShares Ultra Bloomberg Crude Oil ETF (UCO)