Saudi Arabia cancels some September oil cargoes - report
Saudi Arabia has cut oil shipments to Europe after drone attacks damaged its key export pipeline to the Red Sea, trade sources told Reuters.
Organization of the Petroleum-Exporting Countries (OPEC)
OPEC plus states to keep production quotas for October at September level
The seven OPEC+ nations, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, have agreed keep oil production quotas in October at the September, OPEC said.
Global oil demand recovering - Novak
Global oil demand is recovering, as evidenced by the OPEC Secretariat and industry experts, Russian Deputy Prime Minister Alexander Novak said.
Venezuela weighs OPEC exit
Venezuela is considering whether it should quit OPEC, potentially delivering a fresh blow to the oil cartel it helped create more than six decades ago, Bloomberg reported, citing people familiar with the matter.
Russia and OPEC countries intend to stabilize oil market
Russia continues to work with OPEC+ partners to stabilise the oil market, a Foreign Ministry spokesperson stated.
OPEC plus nations to increase daily oil production
The seven OPEC+ nations, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, have agreed to increase daily oil production in September by 188,000 (on August), OPEC said after their meeting.
Baku hosts first OPEC Charter of Cooperation meeting
Today, the first meeting under the OPEC+ Charter of Cooperation is underway in Baku.
Russia cuts oil production by 61,000 barrels in June
Russia cut oil production by 61,000 barrels per day in June compared with May, according to the latest OPEC report.
Kuwait, Saudi Arabia, and Iran increase oil output sharply - report
OPEC’s crude oil production surged last month as Persian Gulf members restored exports through the Strait of Hormuz amid a peace accord between the U.S. and Iran.
Iraq warns it might leave OPEC - report
Iraq has considered leaving OPEC if the oil producer group does not allow Baghdad to significantly increase oil production, Reuters reported, citing sources.
Global oil demand to grow by 19 million bpd by 2050 - OPEC
OPEC predicts that global oil demand will rise by 19 million barrels per day over the next quarter-century, with India expected to lead the growth.
OPEC plus increases oil production amid Hormuz blockade
Seven OPEC+ countries have decided to increase their oil production quotas by 188,000 barrels per day (bpd) in July, thus bringing the alliance's total quota for July to 35.83 million bpd, excluding overproduction compensation for countries violating the OPEC+ deal, OPEC said.
Oil prices may exceed 150 dollars - Sechin
Global oil prices could rise by another approximately $100 per barrel under new restrictions on Russian oil and exceed $250 per barrel, Executive Secretary of the presidential commission on fuel and energy sector development strategy and environmental security and Rosneft CEO Igor Sechin said.
Russia becomes leader in oil exports to India and China
According to OPEC, Russian oil accounted for the majority of India and China's oil imports in March of this year.
Oil production in OPEC states down to record minimum
Oil production in OPEC countries dropped in April 2026 by 420,000 barrels per day to a 36-year minimum, Bloomberg reported.
UAE withdraws from another international organization
The United Arab Emirates withdrew from the Organization of Arab Petroleum Exporting Countries (OAPEC) from May 1, the organization said in a statement.
OPEC countries to raise oil output by 188,000 barrels per day
Seven key OPEC+ members (Russia, Saudi Arabia, Iraq, Kazakhstan, Kuwait, Oman and Algeria) have decided to raise oil output quotas by 188,000 barrels per day (bpd) in June, the group said in a joint statement.
Deep crisis seen on global oil market - Novak
The global oil market is experiencing a deep crisis, with large volumes of oil not reaching the market, Russian Deputy Prime Minister Alexander Novak said.
Russia not planning to leave OPEC plus - Kremlin
Russia is not considering exiting the OPEC+ format, Kremlin Spokesman Dmitry Peskov said.
UAE exit from OPEC to hinder Saudi Arabia's influence on oil prices - report
The United Arab Emirates exit from OPEC would be painful for the oil cartel, undermining Saudi Arabia’s ability to influence global oil prices through it, the Canadian newspaper The Globe and Mail said.
