Russian President Vladimir Putin hosted Iraqi Prime Minister Mohammed Shia al-Sudani in the Kremlin on Tuesday and praised cooperation between their countries at the OPEC+ group of top oil producers, saying it had helped to stabilise energy markets.
OPEC Feed Atom
OPEC raised its world oil demand forecasts for the medium and long term in an annual outlook, and said $14 trillion of investment is needed to meet this demand even as renewable fuel use grows and more electric cars take to the road.
An OPEC+ ministerial panel that met on Wednesday made no changes to the group's oil output policy, after Saudi Arabia and Russia said they would keep voluntary supply cuts in place to support the market.
OPEC oil output rose for a second straight month in September, a Reuters survey found on Monday, led by increases in Nigeria and Iran despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.
OPEC+ is unlikely to tweak its current oil output policy when a panel meets next Wednesday, four OPEC+ sources told Reuters, as tighter supplies and rising demand drive an oil price rally.
The OPEC+ group of leading oil producers will act if the global oil market faces a shortage, Alexander Dyukov, head of Russian oil firm Gazprom Neft, said on Wednesday.
On the International Energy Agency’s recent Op-Ed published on 12 September 2023, asserting that fossil fuel demand would peak before 2030, OPEC notes that consistent and data-based forecasts do not support this assertion.
The Organization of the Petroleum Exporting Countries (OPEC) today turned 63.
The Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC) showed that Iran has regained its position as the third-largest crude oil producer in August.
Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories.
The latest figures by the Organization of Petroleum Exporting Countries (OPEC) indicate that Iranian oil prices increased by an average of $6.1 per barrel in August.
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Roydad Naft News Agency – OPEC oil output rose in August as Iranian supply rose to its highest since 2018, a Reuters survey found on Thursday, despite…
Roydad Naft News Agency – Iranian Oil Minister Javad Oji has appointed Afshin Javan as Iran’s national representative to the Organization of the Petroleum Exporting Countries (OPEC),…
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According to Roydad Naft News Agency – Iran has been the fifth top exporter of goods and services among the members of the Organization of Petroleum Exporting…
According to Roydad Naft News Agency – A panel meeting of the top ministers of OPEC+ has kept oil output policy unchanged on Friday, two OPEC+ sources…