CNBC | OPEC's oil output jumps in June as Saudi Arabia opens the taps to tame crude prices CNBC Saudi Arabia hiked its oil output in June to the highest level since the end of 2016. The jump in Saudi supplies shows the world's top crude exporter is making good on its recent vow to cool the market after oil prices rose to three-and-a-half year ... Oil could surge to $250 a barrel if Iran follows through with its threat to close a key choke point, analyst says Oil Market Is Being Nibbled To Death By Ducks Crude prices cool after Pompeo hints at Iran oil sanctions waivers |