OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, giving extra support to the market amid concerns over global growth and rising output outside the group.
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Iran’s Oil Minister Javad Owji and OPEC Secretary General Haitham Al Ghais exchanged views on developments of the global oil market in Algiers, the capital of Algeria, on Saturday.
The Organization of the Petroleum Exporting Countries is in talks with several countries interested in joining the wider alliance known as OPEC+, its secretary-general said on Monday.
The 52nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Thursday.
Iran’s oil revenues neared $34 billion in the first nine months (January-September) of 2023 despite brutal U.S. sanctions, accounting for 12 percent of OPEC member states’ total income.
The OPEC+ group of oil producers is working to limit the challenges affecting the stability of the global oil market, Iraq's Oil Minister Hayan Abdel-Ghani.
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais, in a message to Iran’s Oil Minister Javad Owji, extended his condolences to Iran on Thursday over the deadly terrorist attacks in the southeastern city of Kerman.
Iraq’s Oil Ministry spokesman Asim Jihad affirmed Iraq's support for the OPEC+ agreement and its commitment to voluntary oil cuts, according to the Iraqi News Agency on Friday.
Angola has said it is leaving the Organization of the Petroleum Exporting Countries (OPEC) with effect from Jan. 1 2024, after exits from Ecuador in 2020 and Qatar in 2019.
Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts to prop up oil prices.
Iran produced 3.128 million barrels per day (bpd) of crude oil in November, registering a 7,000 bpd increase compared to the previous month, according to OPEC’s latest monthly report.
OPEC's top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference as countries clash at the UN's COP28 climate summit over a possible agreement to phase-out fossil fuels.
Russian Deputy Prime Minister Alexander Novak said on Friday that OPEC+ group of leading oil producers will be ready to make a decision if market situation would require it.
Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.
Oil production cuts agreed by the OPEC+ group will take time to kick in, the Kremlin said on Tuesday as it confirmed that President Vladimir Putin would visit the United Arab Emirates and Saudi Arabia on Wednesday.
The OPEC+ oil production cuts can “absolutely” continue past the first quarter if needed, Saudi Energy Minister Prince Abdulaziz bin Salman said, as he pledged the curbs would be delivered in full.
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
Iranian Oil Minister Javad Owji on Thursday praised ‘favorable’ cooperation and understanding between OPEC+ producers.
Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira.
Gabon and Iran were on Thursday elected as president and alternate president of the Conference of Ministers of the Organization of Petroleum Exporting Countries (OPEC) for 2024, respectively.
