OPEC+ not to increase oil production in 2024
OPEC+ countries have decided to extend voluntary oil production cuts of 2.2 mln barrels per day until the end of December, according to a statement published on …
Organization of the Petroleum-Exporting Countries (OPEC)
Azerbaijan cuts oil production in August
In August, oil production in Azerbaijan amounted to 480 thousand barrels per day. The country lagged behind the OPEC+ quota by 71 thousand bpd. Oil production decreased by 10 thousand bpd.
OPEC+ extend voluntary oil output cuts
Several members of OPEC+ agreed to extend their group-wide output cuts to the end of 2025. The countries agreed to extend their additional voluntary cuts of 2.2 million bpd, announced in November 2023, until the end of September …
OPEC+ members extend oil production cuts into 2025
OPEC+ agreed to extend most of its deep oil output cuts well into 2025, according to the statement of the OPEC and non-OPEC Ministerial Meeting released on Sunday. OPEC+ members are currently cutting output by a total of 5.86 million …
OPEC conveys condolences to Iran over death of president
The OPEC Secretary General, on behalf of the Organization of Petroleum Exporting Countries, expressed condolences to Iran over the death of Raisi
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+ 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.
Kazakhstan not to change its oil production forecast due to OPEC+ agreement
The Kazakh authorities do not plan to change the forecast for oil production this year, since the republic has pledged to fulfill the OPEC+ condition to reduce fuel production.
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 …
Iran produces record oil within OPEC
The US Department of Energy said Iran set a record for oil production among OPEC member countries last year, reaching 2.8 million barrels per day.
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. …
Angola leaves OPEC
Angola has announced its withdrawal from OPEC. For a long time, the country has not fulfilled its oil production obligations.
Iran's oil prices increasing
Iranian oil prices experienced a significant increase of $6.1 per barrel in August, according to recent data from the Organization of Petroleum Exporting Countries (OPEC). These figures reveal that Iran supplied oil to its …
OPEC Secretary General to visit Russia
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham al-Ghais announced his intentions to visit Russia for the first …
OPEC invites Azerbaijan
OPEC offered Azerbaijan to join the organization
OPEC Secretary General holds meeting with Ilham Aliyev
President of Azerbaijan Ilham Aliyev has today received Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al …
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 …
