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Ministers of the Organization of Petroleum Exporting Countries (OPEC) appointed Haitham al-Ghais from Kuwait to become the next OPEC Secretary-General in August 2022 at Monday’s meeting held as a video conference, an OPEC source said. …
The ministers of the OPEC countries will hold a special meeting on Monday, January 3, where they will discuss the candidacy of the new Secretary-General of the organization, who should replace Mohammed Barkindo starting from August, according to …
The OPEC+ group of oil producers celebrated their fifth birthday in early December. It’s been a turbulent time - more so than they could have imagined when they first came together to face the threat posed by the U.S. shale boom …
Gazprom Neft, the oil arm of Russian gas giant Gazprom, expects a record high oil and gas production this year, as demand recovers and OPEC+ eases the production cuts. …
Saudi Arabia, Russia and other leading oil producers have decided to stick with plans to increase supply in January despite a recent plunge in prices driven by fears of a new glut
Ministers of OPEC member-states ended the meeting, during which the proposal was made to call an extraordinary meeting of the organization in January where the candidacy of the new secretary general can be determined, a source participating in …
Oil prices rose more than 4% on Wednesday, still struggling to recoup losses of more than 16% in November, as major producers prepared to discuss how much of a threat the new Omicron variant of the coronavirus would pose to energy demand. …
Russia's ability to regulate the natural gas markets appears quite limited
The Organization of the Petroleum Exporting Countries (OPEC) expects oil demand to grow by 4.2 million barrels per day in 2022. This is stated in the November OPEC report. The organization believes that the demand for oil next year may …
U.S. President Joe Biden has called out Russia and OPEC countries for causing U.S. energy prices to rise, even as he implements policies to curtail domestic oil and natural gas production. “If you take a look at, you know, gas …
As oil prices rally, the rig count in the Permian is ticking up and oil production in the basin is set to reach pre-pandemic levels soon. The rig count in the top oil-producing shale play is now 136 rigs above what it was this …
OPEC has trimmed its world oil demand growth forecast for 2021 while maintaining its 2022 view, its monthly report showed on Wednesday, but it said surging natural gas prices could boost demand for oil products as end users switch, Reuters …
U.S. crude futures topped US$80 a barrel for the first time since November 2014 as a global energy crisis boosts demand at a time when OPEC+ producers are keeping supplies tight. As Bloomberg …
Oil would be the leading energy source for decades to come
The White House is staying in communication with OPEC about oil prices and looking at every tool to address its cost, White House press secretary Jenn Psaki said on Tuesday after Brent crude topped $80 per barrel for the first time in nearly …
Iran exported petrochemicals and petroleum products worth almost $20 billion in 2020
Organization of Petroleum Exporting Countries and their allies, a group known as OPEC+, have fulfilled a goal of removing excess oil from the global market and it is now important to keep the market balanced, Russia's top negotiator, …
Are the supply and demand fundamentals that have governed oil markets for decades coming unstuck?
U.S. President Joe Biden added to the pressure on the Organization of the Petroleum Exporting Countries, after one of his top advisers said earlier in the day that OPEC and its allies "must do more" to support the economic recovery. …
Oil prices fell on Monday as major oil producers of OPEC+ finally agreed on their production policy, prompting concerns about oversupply while rising COVID Delta cases keeps dampening hopes for a full economic recovery. International …
