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.

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

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.

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.

The Saudi-led OPEC meeting was originally scheduled for Monday, but moved ahead with "less than a day's notice" to Saturday, according to Bloomberg. The move led to a 411,000 barr

Crude oil futures tumbled at the open Sunday after OPEC decided to boost output. WTI crde (CL1:COM) -3.8% and Brent (CO1:COM) -3.5% dropped more than 3%. Eight members of OPEC+ on Saturday announced a second straight monthly increase of 411K barrels of crude per day for June.

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 latest boost came as high-level trade talks between the US and China concluded on a positive note Sunday. US officials highlighted a “deal” aimed at reducing the US trade deficit, while their Chinese counterparts stated that an “important consensus” had been reached.

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.