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 Feed Atom
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.
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…
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…