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United Arab Emirates' energy minister said on Monday that the Gulf state denied that it is engaging in any discussion with other OPEC+ members to change their latest agreement, adding that it is valid until the end of 2023. "We …
Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying a Wall Street Journal report earlier on …
A week ago, the U.S. Energy Information Administration cut its crude oil demand outlook for 2023 by 320,000 bpd, with supply also falling, by 300,000. This week, OPEC also revised down its oil demand forecast for next …
Namibia could consider joining OPEC if recent offshore oil discoveries prove to be large enough for commercial development, Namibian petroleum commissioner Maggy Shino told Bloomberg, as oil majors that have made recent discoveries prepare …
The US pursuit of “energy independence,” let alone “energy dominance,” did not last long
Bahrain's oil minister and special envoy for climate affairs Mohamed bin Mubarak bin Daina said that the OPEC+ decision to cut oil output by 2 million barrels per day was taken unanimously and after a thorough technical study of the …
Azerbaijan also agreed with the decision to reduce the average daily production of crude oil by 2 million barrels from November 2022, according to the Ministry of Energy of Azerbaijan. This decision was adopted at 33rd meeting of …
Countries participating in the OPEC+ agreement extended the deal until the end of 2023 and agreed to reduce oil production by 2 mln barrels per day from November, according to the final communique posted on the OPEC’s website. …
OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness. The meeting …
Several major producers of the OPEC+ alliance have started talks about a potential oil production cut ahead of the regular monthly OPEC+
The idea that OPEC+ could consider production cuts in the near future would be in line with OPEC’s view, the rotating president of OPEC, Congo’s Hydrocarbons Minister Bruno Jean-Richard Itoua, told The Wall Street …
OPEC is keen to ensure Russia remains part of the OPEC+ oil production deal after 2022, OPEC Secretary General Haitham Al Ghais told Reuters. Despite expectations for measures taken to reduce Russian oil supply by the end of the year, …
New OPEC Secretary-General Haitham Al Ghais said Wednesday that the influential producer group is not to blame for soaring inflation, pointing the finger instead at chronic underinvestment in the oil and gas industry. “OPEC is not …
Liquid hydrocarbons production in Russia can grow in 2022 by 0.77% or by 80,000 barrels daily against 2021 and reach 10.88 mln barrels daily, the Organization of Petroleum Exporting Countries (OPEC) said in its August report. OPEC …
OPEC's new secretary general Haitham Al-Ghais said that Russia's membership in OPEC+ is vital for the success of the agreement, Kuwait's Alrai newspaper reported. He said OPEC is not in competition with Russia, calling it …
Mohammad Barkindo, Nigerian politician and the secretary general of oil producer group OPEC, has died at the age of 63, just days before he was set to finish his term at the organization. The head of Nigeria’s National Petroleum …
Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in August. Oil Price notes that the …
World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy
World oil prices are rising after the monthly OPEC report's publication, according to trading data. Thus, the price of August Brent crude futures rose by 0.4% - to $122.75 per barrel, July WTI futures - by 0.25%, to …
OPEC+ agreed to increase the size of its oil-supply hikes by about 50%
