OIH Stock Recent News

Dan Yergin, S&P Global vice chairman, joins 'Squawk Box' to discuss state of the oil market, impact of Middle East conflict on energy market, oil price outlook, and more.

Amrita Sen, founder and director of research at Energy Aspects, says OPEC+ is not looking to flood the market with an upcoming increase in production as oil heads for a third straight weekly loss. Sign up for the Energy Daily newsletter, your guide to the energy and commodities markets that power the global economy, from journalists stationed around the world.

Oil futures ticked higher Friday, but remained on track for weekly losses on expectations OPEC+ will boost production before year-end as investors cast doubt on whether an aggressive round of monetary stimulus from China will shore up demand from the world's largest crude importer.

Saudi Arabia is reportedly ready to raise production in December to defend its market share.

OPEC+ is set to go ahead with a December oil output increase as its impact will be small should a plan for some members to make larger cuts to compensate for overproduction be delivered in September and later months, two OPEC+ sources said on Thursday.

Steve Richardson, Evercore ISI senior managing director, joins CNBC's 'Money Movers' to discuss global oil demand and pricing, oil futures, and more.

Oil futures traded modestly lower early Wednesday, pulling back from strong gains seen the previous session amid a broad commodity rally sparked by China's announcement of an aggressive monetary stimulus plan.

Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world's biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market.

The cartel said oil demand is forecast to reach 120.1 million barrels a day in 2050 from 102.2 million barrels a day last year.

Delta Air Lines, Inc. shares have dropped 10.40% since May, despite strong travel demand and revenue growth, due to concerns over shrinking margins and rising fuel costs. Lower oil prices and recent Fed rate cuts are expected to improve Delta's margins and consumer spending, providing a potential upside for the stock. Delta's strong fundamentals, including record passenger volumes and high demand for premium travel, support a bullish outlook despite current market undervaluation.