The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for this upward pressure is that […]
(Bloomberg) — OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including […]
(Bloomberg) — The OPEC+ coalition will likely hold firm to its oil production plans this week even as the European Union moves to sanction group member Russia, delegates said. Global oil supply and demand levels remain stable, […]
Saudi Arabia’s energy minister Price Abdulaziz bin Salman has signaled support for Russia, stating that it is a vital part of the OPEC+ group of oil producers. Salman added that politics should be key out […]
All 13 members of OPEC saw their production rise by just 153,000 barrels per day. OPEC’s collective production rose to 28.648 million bpd in April. Saudi Arabia, raised its production by 127,000 bpd to 10.346 […]
New Delhi: Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman gave a “positive assessment” to their cooperation on the OPEC+ producers group to stabilise the world oil market, the Kremlin said in […]
Ukraine’s gas pipeline operator said on Sunday that the transmission of natural gas through its system was continuing “normally” and that it had not recorded a drop in pressure after an explosion in the area […]
The two-year Covid crisis put many markets on a wild ride—just look at U.S. Treasuries—but few have had a crazier time than crude oil: from total collapse in 2020 to the brink of $100 a barrel […]
OPEC and its allies are expected to approve another modest oil-output increase this week, yet once again struggle to deliver all of the extra supplies into a red-hot crude market. The recovery in fuel consumption from the […]
With Brent oil prices having surged to around $90 per barrel, OPEC and its allies may announce a bigger-than-expected rise in output, according to Goldman Sachs Group Inc. The outcome of Wednesday’s meeting remains “evenly balanced” […]
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