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, …
Organization of the Petroleum-Exporting Countries (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.
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 …
Kazakhstan's oil output to increase
Kazakhstan’s oil output in 2023 is expected to increase by 0.1 mb/d, according to the monthly oil outlook from OPEC. According to OPEC, Kazakhstan's liquids output in March declined by a minor 5,000 b/d month-on-month to …
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. …
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+ 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. …
OPEC+ ministers to discuss market fundamentals today
Ministers from OPEC+ countries are due to hold a virtual meeting on market fundamentals at 11:00 GMT on Feb. 1. The panel, called the Joint Ministerial Monitoring Committee (JMMC), can call for a full OPEC+ meeting if …
