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.
Organization of the Petroleum-Exporting Countries (OPEC)
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.
UAE Foreign Ministry comments on decision to exit OPEC and OPEC plus
The United Arab Emirates decision to leave OPEC is a "sovereign, strategic choice" based on the country's long-term economic vision, UAE Foreign Ministry communications director Afra Mahash Al Hameli said.
UAE to leave OPEC and OPEC plus
The United Arab Emirates decided to exit from OPEC and OPEC+ from May 1 of this year, WAM state agency said.
UAE ready to continue cooperation with its oil export partners
Abu Dhabi will not sever ties with oil-exporting countries after leaving OPEC
Iraq intends to remain in OPEC
The UAE's state news agency WAM reported that the UAE intends to leave OPEC and OPEC+
OPEC countries oil production-down about a third
Crude oil production in the major Gulf Arab exporters plunged in March due to the Iran war, according to data released by OPEC.
OPEC plus to ramp up oil output in May
Eight leading OPEC+ countries have decided to increase oil production by 206,000 barrels per day (bpd) in May (compared to April levels), the organization’s statement said.
Novak notes high volatility on oil market amid Iran situation
The OPEC+ nations have noted the high oil market volatility amid the geopolitical tensions stemming from the development around Venezuela and Iran, Russian Deputy Prime Minister Alexander Novak said.
OPEC plus keep production quotas until late March
The eight OPEC+ nations have agreed to pause production increments in March 2026 and keep oil production quotas at the December 2025 level, OPEC said after their meeting.
OPEC+ countries to reduce oil production ceiling in January
OPEC+ member states adhering to voluntary production cuts will lower their combined maximum permissible oil output starting in January, with a reduction of 148,000 barrels per day.
Russia ready to maintain stability in global oil market
The global oil market remains sensitive to demand-supply fluctuations and OPEC+ nations will take additional measures to maintain its stability, Russian Deputy Prime Minister Alexander Novak said.
