OPEC
OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization oil demand supply market upstream downstream Vienna Austria
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May 27,2023Iranian President Ebrahim Raisi described constructive interaction among the member states of the Organization of the Petroleum Exporting Countries as a crucial factor in the organization’s success... -
April 04,2023Goldman Sachs, an American multinational investment bank and financial services company, says crude oil production cuts by OPEC could result in a significantly larger deficit in the market, driving...
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February 21,2023Decisions by OPEC+ are not politicized and are based on market fundamentals, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil producers is...
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February 15,2023OPEC expects a slightly tighter global oil market than previously forecast as the group nudged up its demand estimate and trimmed its supply outlook.
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February 07,2023OPEC’s top official said he sees a “more upbeat” economic outlook as China reopens after several years of virus restrictions.
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December 05,2022OPEC+ agreed to stick to its oil output targets at a meeting on Sunday, as oil markets struggle to assess the impact of a slowing Chinese economy on demand and a G7 price cap on Russian oil supply.
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December 02,2022OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact of a pending ban on Russia’s crude exports...
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November 01,2022An excess of supply in the oil market was the main reason for OPEC+ opting to cut production earlier this month, according to the group’s secretary-general.
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October 31,2022The UAE’s energy minister said on Monday OPEC+ is keen on providing the world with the oil supply it needs, driving home the message that the alliance of top producers will always be in a position...
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October 21,2022Oil slipped on Friday and was heading for a second weekly decline, as investors weighed the impact of sharp interest rate rises on energy consumption, offsetting hopes of higher Chinese demand and...
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October 17,2022OPEC+ member states lined up on to endorse a steep production cut agreed this month after the White House, stepping up a war of words with Riyadh, claimed Saudi Arabia had pushed some other nations...
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October 14,2022Oil prices reversed earlier losses and inched up in Asian trade on Friday, supported by a weaker US dollar and falling diesel inventories, while Saudi Arabia and Washington continued to clash over...
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October 11,2022The decision by the Organization of Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market, with more US bettors opting for...
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October 03,2022Oil prices jumped more than 3% in early Asian trade on Monday, as OPEC+ considers cutting output by more than 1 million barrels per day, for its biggest reduction since the pandemic, in a bid to...
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September 28,2022Russia is likely to propose that OPEC+ reduce oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint said.
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September 21,2022OPEC+ is now producing below its targets by a record 3.58 million barrels per day - about 3.5% of global demand - highlighting underlying tight supply in the oil market, even as recession fears...
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September 14,2022OPEC is still forecasting robust oil demand growth of 3.1 million bpd for 2022 and a further 2.7 million bpd in 2023, despite concerns of a recession, buoyed by "still-solid" economic performance...
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September 02,2022Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China's Covid-19 curbs and weak global growth continued to limit gains and a...
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August 29,2022Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe,...
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August 10,2022OPEC and its nine allies posted their highest monthly crude oil production rise in five months ending July, led by gains in Saudi Arabia and Kazakhstan, the latest Platts survey by S&P Global...
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August 02,2022OPEC's new secretary-general said Russia's membership in OPEC+ is vital for the success of the agreement, Kuwait's Alrai newspaper reported, quoting an exclusive interview with Haitham al-Ghais.
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July 29,2022Oil prices rose in European trading on Friday as attention turned to next week's OPEC+ meeting and expectations that it will dash US hopes for a supply boost.
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July 14,2022The White House believes the Organization of Petroleum Exporting Countries has room to raise oil production, should an upcoming visit by President Joe Biden to the Middle East yield any agreements...
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June 28,2022The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister.
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June 15,2022OPEC expects the pace of oil demand growth to halve next year, as inflation and conflict grip the global economy.
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