Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 26.71 million barrels per day (bpd) of oil in April, according to the group’s latest report.
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OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.
Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle lower oil prices.
The Iranian Oil Minister expressed confidence that the OPEC+ Joint Ministerial Monitoring Committee (JMMC), using its experience in accurately assessing market developments, will help member countries play an active, accurate, and prudent role in the oil market.
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on April 3, 2025, to review global market conditions and outlook.
Iran’s minister of economy announced negotiations with the head of the OPEC Fund, along with an agreement to secure financing for Iranian contractors in international projects through the fund.
According to the latest monthly report from OPEC, Iran’s heavy crude oil prices rose significantly in January, increasing by $6.65, or 9.1%, compared to December, 2024.
The 58th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 03 February 2025.
India's oil product demand increased 7.9% in November 2024, driven by increased consumption of diesel, gasoline, and LPG, according to the OPEC monthly oil market report.
Iran remains the third-largest producer in OPEC, with daily oil output reaching 3.314 million barrels in December 2024, according to the first 2025 report.
Iran’s crude oil production increased by 37,000 barrels per day (bpd) in November compared to the previous month, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).
Iranian Oil Minister Mohsen Paknejad has been elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) for 2025.
The Declaration of Cooperation between OPEC member countries and non-OPEC oil-producing countries has turned eight on Tuesday, according to a press release by OPEC.
OPEC and non-OPEC Participating Countries have pledged to establish a stable oil market, offer long-term guidance, and maintain transparency, in line with their proactive approach in the Declaration of Cooperation.
Iran's Finance and Economic Affairs Minister Abdolnasser Hemmati met with OPEC Fund President Abdulhamid Alkhalifa at the 28th WAIPA World Investment Conference, confirming the Fund's readiness to offer services to Iranian companies.
The OPEC and Russian Federation held the Ninth High-level Meeting of the OPEC-Russia Energy Dialogue in Moscow on November 22, 2024.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.259 million barrels per day (bpd) of crude oil in October, while the figure was 3.327 million bpd in September.
The OPEC Monthly Oil Market Report provides insights into short-term global oil market developments, including economic, price, consumption, production, trade, and tanker market.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report, published on Monday, has said Iran produced 3.316 million barrels per day (bpd) of crude oil in September, registering a 21,000-bpd increase compared to the previous month.
Reuters announced Iran as the only member of Opec which its oil production rose in September 2024.