Many analysts continue to see a tighter oil market in the second half of 2023.
Crude oil prices have been on a losing streak…
OPEC Feed Atom
OPEC’s global oil demand forecast for 2023 was held steady for a third month, with the producer group citing the potential Chinese growth to be offset by…
Iran’s crude oil production increased 48,000 barrels per day (bpd) in April to reach 2.63 million bpd, according to OPEC’s latest monthly report Published on Thursday.
OPEC’s global oil demand forecast for 2023 was held steady for a third month on Thursday, with the producer group citing the potential Chinese growth to be…
The United Arab Emirates’ energy minister Suhail al-Mazrouei said on Tuesday that additional voluntary output cuts by the OPEC+ producer group were implemented to balance the oil…
Iran’s crude oil production stood at 2.567 million barrels per day (bpd) in March, 8,000 bpd less than the figure for the previous month, according to OPEC’s…
While investment in both fossil fuels and clean energy projects will continue for years, there are bound to be conflicts over exactly how much should go to…
A survey conducted by Bloomberg shows that OPEC crude oil production fell by 310,000 bpd in April.
OPEC’s crude oil production fell last month…
Oil fell on Monday as concern over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from…
Oil prices will pick up pace towards $90 a barrel over the course of this year as production cuts by OPEC+ and rebounding China demand shield against…
Russian Deputy Prime Alexander Novak said on Thursday the OPEC+ group of leading oil producers saw no need for further output cuts despite lower-than-expected Chinese demand, but…
OPEC Secretary General Haitham Al Ghais said on Thursday the International Energy Agency (IEA) should be “very careful” about discouraging investment in the oil industry, which was…
Russian Deputy Prime Minister Alexander Novak said on Wednesday that OPEC+, the group of leading oil producers, remains an efficient tool for coordination on global oil markets.
OPEC’s share of India’s oil imports fell at the fastest pace in 2022/23 to the lowest in at least 22 years, as intake of cheaper Russian oil…
Russian President Vladimir Putin discussed the OPEC+ deal to cap oil production with the Crown Prince of Saudi Arabia, Mohammed bin Salman, in a telephone call on…
OPEC and the International Energy Agency (IEA) do not see eye to eye when it comes to the latest cuts in oil output by OPEC+ producers.
OPEC on Thursday flagged downside risks to summer oil demand as part of the backdrop to shock output cuts announced by OPEC+ producers on April 2, although…
When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from…
In its Short-Term Energy Outlook, the EIA said that it expects the global oil market to remain in surplus this year and next.
Despite…
In 2020, Saudi Energy Minister Prince Abdulaziz bin Salman warned he would “make sure whoever gambles on this market will be ouching like hell.”