Investors bought petroleum futures and options at the fastest rate for more than three years after Saudi Arabia and other OPEC+ producer group members announced voluntary cuts…
OPEC Feed Atom
Oil rose on Thursday and was on track for a third weekly gain as further production cuts targeted by OPEC+ and a drop in U.S. oil inventories…
Iran’s Oil Minister Javad Owji Wednesday said OPEC+ decided to cut its output amid growing pressures from the U.S. for a rise.
Saudi Arabia…
Iran’s former OPEC governor said the recent decision OPEC+ made to cut its output will put the brakes on the reduction of oil prices and stabilize the…
Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact…
Former OPEC affairs head of the Iranian Ministry of Petroleum cited two economic and political factors as main reasons behind the recent OPEC+ surprise decision to cut…
The collective oil output cut by OPEC+ is a very important decision made by the alliance, as it is, in fact, the big producers’ move toward ending…
The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 3 April 2023.
The committee reviewed the crude…
On Sunday, OPEC+ announced a surprise production cut of some 1.16 million barrels per day, increasing the total OPEC+ cut to 3.66 million bpd.
OPEC oil output fell in March due to oilfield maintenance in Angola and a halt in some of Iraq’s exports, a Reuters survey found on Friday, adding…
OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after…
OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a…
OPEC Secretary-General Haitham al-Ghais said the group’s agreement to reduce production has helped address challenges facing global oil markets, Iraq’s oil ministry quoted him as saying on…
Talks between French oil major TotalEnergies(TTEF.PA) and Iraq to resolve sticking points in a long-delayed $27 billion energy deal “have reached advanced stages”, Iraqi oil minister Hayan Abdel-Ghani…
THE price of OPEC basket of 13 crudes stood at $76.22 a barrel on Wednesday, March 15, 2023, compared with $78.92 the previous day, according to OPEC Secretariat calculations/
OPEC+ considers this week’s slide in oil prices to a more than one-year low to be driven by financial fears, not any imbalance between demand and supply,…
Iran’s crude oil production increased 17,000 barrels per day (bpd) in February to reach 2.554 million bpd, according to OPEC’s latest monthly report.
As…
OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country’s COVID-19 curbs, although it left the…
Oil prices could rise as high as $107 a barrel by the end of the year from about $84 at present, depending on how OPEC responds to…
A media report that the United Arab Emirates is considering leaving OPEC is “far from the truth,” two sources with direct knowledge of the matter told Reuters.