Namibia may join OPEC+
The OPEC+ oil producers group is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade, Reuters reported citing sources. TotalEnergies, opens new tab and Shell, …
OPEC+
OPEC+ not to change oil production volumes
OPEC+ countries will not change the volume of oil production in connection with the recommendations of the organization's monitoring committee.
Russia to cut oil production by nearly 0.5 mln bpd
Russia plans to cut its oil production and export by an average of 471,000 barrels a day in the second quarter of 2024 as part of its voluntary commitments under the OPEC+ deal, Russian Deputy Prime Minister Alexander Novak said. …
OPEC+ extends 200 mln bpd oil output cuts
Several OPEC+ countries have announced the extension of additional voluntary oil production cuts for the second quarter of 2024. Thus, Saudi Arabia extends production cuts by one million barrels a day until June, the United Arab …
OPEC+ states intend to stabilize oil market
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, reaffirmed their commitment to unity, full cohesion and market stability following Angola's departure announcement from the group. …
Brazil to join OPEC+ next month
Brazil will become the OPEC+ member next month. The relevant information was confirmed by the alliance itself yesterday.
Six OPEC+ countries agree on oil production voluntary cut
Saudi Arabia announced an extension of oil production cuts until the end of March. A reduction in production was also confirmed by five other countries, including Russia.
OPEC+ mulls new oil production cuts
OPEC+ members are considering new oil production cuts of as much as 1-2 million barrels a day, the Wall Street Journal reported. Saudi Arabia favors curb of up to 1 million barrels a day, while other membersm including Nigeria and …
Russia, OPEC+ agree to cut oil production
Russia, OPEC + agreed to reduce oil supplies
Russia begins oil exports reduction under OPEC+ ahead of schedule
Russia has started cutting oil supplies abroad in advance. Next month, it is planned to implement the all the declared agreements within the framework of OPEC+, the Ministry of Energy announced.
OPEC invites Azerbaijan
OPEC offered Azerbaijan to join the organization
Putin and Saudi crown prince discuss OPEC + cooperation
Russian President Vladimir Putin and Saudi Crown Prince Mohammad bin Salman al Saud had a phone call, discussing cooperation within the OPEC+, the Kremlin press office said. "Both sides praised the level of …
Azerbaijan to cut oil production
Azerbaijan is expected to adjust its crude production to 551,000 barrels per day throughout 2024. The overall crude oil production level for both OPEC and non-OPEC countries will be set at 40.46 mb/d, as the block agreed, following 35th …
OPEC+ announces further voluntary production cuts
The OPEC+ energy ministers met on Sunday in Vienna to iron out next production steps, as global oil prices remain under pressure from broader macro-economic concerns. OPEC+ nations agreed the level of oil production in 2024 at 40.46 …
Novak assesses OPEC+ cooperation after deal expires
The countries participating in the OPEC+ agreement can continue cooperation even after the end of the deal, including as part of technological interaction and the creation of joint projects, Russian Deputy Prime Minister Alexander Novak said. …
Oil prices surge after Russia and Arab world announce cuts
Oil prices continue to soar on Tuesday after OPEC+ countries said they will cut production by 1.15 million barrels per day from May until the end of the year. Brent crude had topped $85 per barrel and WTI was trading at …
Azerbaijan overfulfills OPEC+ deal by 29%
In February, Azerbaijan overfulfilled the OPEC+ deal by 29%. Daily production of oil with condensate amounted to 648 thousand barrels: 531 thousand barrels were oil and 117 thousand were condensate.
OPEC+ deal to cut oil production to remain in effect until end of year
OPEC+ countries will not cut oil production at the first sign of an increasing demand. The agreement will last until the end of 2023, the Minister of Energy of Saudi Arabia said.
Azerbaijan overfulfills obligations under OPEC+ deal by almost 33%
Azerbaijan overfulfilled its obligations under the OPEC + agreement by 32.2%. “In January 2023, the daily oil production (including condensate) in Azerbaijan totaled to 652,000 barrels, including 533,000 barrels’ crude oil …
OPEC+ committee recommends no change in oil output policy
The OPEC+ Joint Ministerial Monitoring Committee (JMMC) confirmed oil production agreements reached at the meeting in January and made no recommendation on a change in the OPEC+ policy, OPEC said in the final communique posted on its website. …
