The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 3 April 2023.
The committee reviewed the crude…
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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.
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…