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…
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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…
The 34th ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC) and their non-OPEC allies began a few minutes ago via video conference.
The 23 member countries of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) did not change the goal of reducing daily production by…
The presidency of the Organization of the Petroleum Exporting Countries (OPEC) and its board of governors were entrusted to Equatorial Guinea and Kuwait, respectively.
OPEC+ is likely to stick to its current oil output target when it meets on Sunday, two OPEC+ sources said on Friday, although some say a further…
OPEC+ is widely expected to stick to its latest target of reducing oil production by 2 million barrels per day (bpd) when it meets on Sunday, but…
The OPEC+ meeting in December will take into account the condition and balance of the market, Iraq’s state news agency quoted Saadoun Mohsen, a senior official at…
Since joining the organisation the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification through other sources, and reduce costs
Haitham Al Ghais, the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) sent a message expressing his condolences over the death of dozens of…
OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite…
Renowned for his extensive experience in the energy and oil sectors both in Kuwait and internationally, the newly appointed Secretary General for the Organization of the Petroleum…
African energy ministers have dismissed the misgivings that the OPEC-mandated cut in oil production was a politically motivated move that they were forced to comply with, arguing…
OPEC+ member states lined up to endorse the steep production cut agreed this month after the White House, stepping up a war of words with Saudi Arabia,…
Saudi Foreign Minister Prince Faisal bin Farhan has said that the OPEC+ decision to cut production is purely economic and was taken unanimously by the member states.
US president is re-evaluating the US relations with Saudi Arabia after OPEC+ announced last week that it would cut oil production, White House national security spokesman…