U.S. oil prices fell to $57 a barrel after the OPEC Plus cartel said this weekend that it would pump more oil.

HOUSTON] Crude oil futures climbed more than US$1.60 a barrel on Tuesday, lifted by a temporary cut in US-China tariffs and a better-than-expected inflation report. Read more at The Business Times.

HOUSTON: Crude oil futures climbed more than $1 a barrel on Tuesday, lifted by a temporary cut in US-China tariffs and a better than expected inflation report. Brent crude futures rose $1.11, or 1.71%, to $66.07 a barrel by 1443 GMT. US West Texas Intermediate (WTI) crude was up 95 cents, or 1.53%, at $62.90.

OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the flows and smaller drops in Iraq and Libya.

The group agreed to raise output in June, a sign that Saudi Arabia and its allies appear to be weary of cutting output and may be trying to appease President Trump, who has pushed for lower prices.

With President Donald Trump firing both of the FTC's Democratic commissioners, the remaining three Republicans may grant or deny a petition asking the Federal Trade Commission to toss out a Biden-era consent order governing Exxon Mobil's $65 billion acquisition of Pioneer Natural Resources Co.

For import-reliant Asia, the Opec+ output rise is a welcome development. Markets are still on edge over US-China trade uncertainty, however A surprise decision by Opec+ to accelerate production increases is fuelling hopes of cheaper oil across import-reliant Asia - but analysts warn the move could backfire,

On Monday, global crude prices sank after OPEC+ agreed over the weekend to surge production for a second month, adding to existing concerns about how tariffs may impact worldwide demand. Brent fell to $60 per barrel, while U.S. crude ( West Texas Intermediate) slid by 2% to settle around $57 per barrel.

The share of OPEC oil in India's imports fell to a record low in fiscal year 2024-25 as refiners continued to gorge on cheaper oil from Russia, the top oil supplier to New Delhi for the third straight year,

The focus of this post is an overview of World oil production, along with a more detailed review of the top 11 Non-OPEC oil-producing countries.