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 Feed Atom
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.”
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…
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…