Saudi Arabia has said it will reduce how much oil it sends to the global economy by one million barrels per day (bpd), as the OPEC+ alliance of major oil-producing countries faces flagging oil prices […]
OPEC+ members in Vienna have agreed to extend crude production cuts into 2024. In a statement, the cartel said that it was acting ” to achieve and sustain a stable oil market,” and that it […]
Saudis offers new voluntary cuts of 1 mln bpd for July Russian, Nigerian, Angolan targets brought in line with output UAE allowed to raise production (Reuters) – Saudi Arabia will make deep production cuts in […]
Commentary by Ben Cahill Published June 2, 2023 There is growing speculation that the Organization of the Petroleum Exporting Countries and allied producers (OPEC+) will agree on June 4 to cut production. Brent crude prices fell below $73 […]
VIENNA, June 4 (Reuters) – OPEC and its allies met on Sunday to try to agree further cuts in production, sources told Reuters, as the group faces flagging oil prices and a looming supply glut. […]
OPEC Lambasts Anti-Oil Sentiment, Warns of Underinvestment – OPEC+ compliance with its collective targets keeps on worsening with the 19 members underperforming by 2.6 million b/d, just as the oil alliance prepares for its June […]
Authored by Felicity Bradstock via OIlPrice.com, While there have been tensions between OPEC and the IEA for quite some time, the rhetoric between the two has ratcheted up recently over the future of the oil […]
Authored by Simon Watkins via OilPrice.com, OPEC has repeatedly warned of the danger of undermining oil industry investment and has cut production to ensure oil prices remain higher. Meanwhile, the United States has rigorously attempted […]
Saudi Arabia’s revenues are expected to increase this year due to the high oil prices that will be generated by the reduction in crude oil production by several OPEC countries and Russia from May onwards. Saudi […]
Iraqi Prime Minister Mohammed Shia Al Sudani signs the guest book during a reception at Qasr Al Watan in Abu Dhabi, United Arab Emirates, February 09, 2023. Mohamed Al Hammadi/UAE Presidential Court/Handout via REUTERS CAIRO, […]
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