Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views, but benchmark contracts headed for weekly gains.
Matt Smith of Kpler discusses the decision by OPEC+ to raise oil output by 100,000 barrels per day, and says it could have "thrown out a bigger number" if it wanted to pander to U.S. president Joe Biden.
OPEC is set to raise output by 100,000 bpd from September despite speculation that President Biden's last trip to the Middle East would bring in a lot more oil.
Andy Lipow of Lipow Oil Associates discusses what he thinks is the biggest risk to the oil market.
Mike Sommers of the American Petroleum Institute says the United States should rely on the energy that "we have here under our feet," but the Biden administration has been signaling the "exact opposite."
Daniel Hynes of the bank says we haven't seen the full effects of European sanctions on Russia.
Barkindo's unexpected death came as a surprise to members of the oil and gas world, many of whom describe him as a giant in the industry.
Helima Croft, global head of commodity strategy at RBC Capital Markets, joins CNBC's 'Squawk Box' ahead of the OPEC+ meeting on Thursday to break down the global oil supply.
Dan Pickering of Pickering Energy Partners says Russia will probably become "less relevant" to OPEC+ as Europe and the rest of the world sanction it.
Sushant Gupta of the consulting firm discusses the outlook for the oil market.
The CEO of Ukrainian state energy giant Naftogaz says OPEC is on the wrong side of history in choosing to stick with Russia to stabilize energy markets.
CNBC's Brian Sullivan joins 'Squawk Box' to report how oil buyers could band together in an effort to pressure OPEC to produce more oil.
Bob McNally of Rapidan Energy Group says OPEC+ believes the best thing it can do now is to stick with its agreed plan to keep raising oil production by 432,000 barrels a day.
Oil producer group OPEC+ on Thursday agreed to rubber-stamp another small production increase for June.
The meeting comes more than a month after Russia launched its invasion of Ukraine.
Bob McNally of Rapidan Energy Group discusses the oil market in the wake of the Ukraine war and says the last thing that Saudi Arabia and the UAE would want to do is "rock the boat" and "stress the unity of the system."
Richard Gorry of JBC Energy Asia discusses the question of oil production in the wake of the Russia-Ukraine war.
Paul Sankey of Sankey Research says OPEC is "legally bound" to agree with Russia and discusses the implications of a coordinated release of emergency oil reserves.
Oil prices hit $112 a barrel as war in Ukraine pressures the global oil supply. The Biden administration and International Energy Agency announced the release of 90 millions barrels of reserves to combat supply constraints.
CNBC's Brian Sullivan joins 'Squawk Box' to report that OPEC and oil-producing allies decided to hold production steady at their scheduled meeting Wednesday.