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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 has announced its withdrawal from OPEC. For a long time, the country has not fulfilled its oil production obligations.
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 …
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham al-Ghais announced his intentions to visit Russia for the first …
OPEC offered Azerbaijan to join the organization
President of Azerbaijan Ilham Aliyev has today received Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al …
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 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 …
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 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 …
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. …
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.
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. …
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 …
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran. Exports this year are expected to get a lift after the United States …
Hydrogen power, oil price fluctuations and electric vehicles could feature prominently in the region in 2023
OPEC raised its forecast for the output of liquid hydrocarbons in Russia for 2022 by 26,000 barrels per day (bpd) to 10.96 mln bpd, follows from the report of the organization. Thus, the figure will increase by 160,000 bpd in 2022 …
OPEC countries in November 2022 reduced oil production by 744,000 barrels per day to 28.826 million barrels per day, according to the December report of the Organization of Petroleum Exporting Countries (OPEC). In November, the OPEC …
Azerbaijan decided at the 34th OPEC+ Ministerial Meeting held online to stick with the decision taken in October 2022 in force, according to the press service of Azerbaijani Energy Ministry. Thus, the obligations of the countries …
Today, the next OPEC+ Ministerial Meeting will take place. The further oil production plan will be discussed there. Initially, the ministers were supposed to meet in Vienna, but at the beginning of the week it was decided to hold the …
