Decisions by OPEC+ are not politicised and are based on market fundamentals, Saudi Arabian energy minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance…
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The oil executive who will lead this year’s United Nations climate talks has responded to fears that fossil fuel interests are hijacking the process: his “top priority”…
OPEC has raised its 2023 forecast for global oil demand growth in its first upward revision for months, citing China’s relaxation of COVID-19 restrictions and slightly stronger…
The global oil and gas industry’s profits in 2022 jumped to some $4 trillion from an average of $1.5 trillion in recent years, the head of the…
His comments come amid a shift among some Western governments and companies regarding fossil fuels, after energy prices surged over the Ukraine war After ‘years of chronic…
Saudi Arabia and other OPEC members are so far not reacting to Russia’s production cut as they stand to benefit from the move.
Russia…
The OPEC+ group currently doesn’t plan to change the course in its oil production targets after Russia announced a cut in its output for March, two delegates…
Oil may resume its rally in 2023 as Chinese demand recovers after COVID curbs were scrapped and lack of investment limits growth in supply, OPEC country officials…
Oil prices may rise to $100 a barrel in the second half of the year as China’s economy emerges from anti-virus lockdowns, Iran’s liaison to OPEC said.
Oil prices remained relatively stable after OPEC and its allies stuck to their output policy while the market awaits a U.S. interest rate decision and data on…
An OPEC+ panel is likely to endorse the producer group’s current oil output policy when it meets next week, five OPEC+ sources said on Tuesday, as hopes…
The International Energy Agency estimated Iran’s oil production in December 2022 at 2.72 million bpd, announcing that Iran’s rank upgraded to the fourth among top oil suppliers…
Latest figures by the Organization of the Petroleum Exporting Countries (OPEC) show that Iran’s crude oil prices rose by an average of over $30 per barrel year…
OPEC said on Tuesday Chinese oil demand would rebound this year due to relaxation of the country’s COVID-19 curbs and drive global growth, and sounded an optimistic…
Goldman Sachs expects that the growing ability of the Organization of the Petroleum Exporting Countries (OPEC) to raise prices without hurting demand too much will limit downside…
Nigeria has ranked 11th position on a top-20 list of countries with largest proven oil reserves, a publication by Insider Monkey has shown.
Despite…
Iran’s average oil production in the third quarter of 2022 stood at 2.566 million barrels per day (bpd), 11,000 bpd more than the figure for the second…
The Declaration of Cooperation (DoC) between OPEC Member Countries and 10 non-OPEC oil-producing countries turned six today, December 10 2022.
On this day in…
Oil prices rose 3% on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and the start of a G7 price…
The 34th OPEC and non-OPEC Ministerial Meeting took place by videoconference on Sunday, 4 December 2022.
In line with the decision of the OPEC…