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, […]
Global benchmark Brent rose for a second consecutive week, getting a late boost from UAE officials denying OPEC exit plans.After wavering in the morning, crude’s rally was revived after state officials disputed a report from the […]
Summary Rise in global demand growth forecast is OPEC’s first in months Sees higher Chinese demand growth, ups global econ growth view Raises forecast of 2023 Russian output drop by 50,000 bpd Says Fed most […]
The OPEC+ alliance plans to stick with an oil deal agreed in late 2022 for the rest of the year, Saudi Arabia’s energy minister said, reinforcing earlier signals from the group. In October, OPEC and […]
By Josh Owens of Oilprice.com Crude oil production from all 13 OPEC members slid by 49,000 barrels per day (bpd) in January from December as top producer Saudi Arabia slashed output by 156,000 bpd, OPEC’s […]
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