Output increases from oil producer group OPEC+ are not leading to higher inventories, showing that markets are thirsty for more oil, ministers and executives from OPEC nations and bosses of Western oil majors said on Wednesday.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of difficulties affecting others.

The Organization of Petroleum Exporting Countries (OPEC) continues to boost oil production, with more than 500,000 additional barrels per day set to hit global markets in August, in a bid to regain market share lost to other oil producers,

OPEC+ jolted markets by announcing it would flood the market with more oil.

Sarah Emerson, President of ESAI Energy, talks about OPEC+ latest production hike, summer demand and supply. She speaks to Bloomberg's Joumanna Bercetche from the sidelines of OPEC's 9th International Seminar in Vienna.

Crude oil outlook turns bearish as geopolitical risks ease, OPEC plans a supply hike, and demand signals remain weak ahead of next week’s trade.

In a shocking move that’s rattling global oil markets, OPEC has delivered a powerful blow to the U.S. energy strategy,reminding the world who still controls the oil game. As U.S. shale oil and LNG exports soared,

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