OPEC
OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization oil demand supply market upstream downstream Vienna Austria
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January 01,2022In the month since OPEC and its allies last met and affirmed plans to keep hiking oil production in January, Dated Brent has risen almost 10%. -
December 14,2021OPEC raised its world oil demand forecast for the first quarter of 2022 but left its full-year growth prediction steady, saying the Omicron coronavirus variant would have a mild impact as the world...
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November 29,2021Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood...
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November 24,2021The administration of US President Joe Biden announced on Tuesday it will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and...
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November 23,2021US pressure on OPEC+ to pump more oil and cool red-hot crude prices has shone a spotlight on a relatively new problem for the producer group, as it does not have much extra capacity to hike output...
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November 16,2021The secretary-general of oil producer group OPEC has said the 2021 United Nations Climate Change Conference (COP26) in Glasgow, Scotland, was “definitely a wakeup call”.
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October 19,2021OPEC+ compliance with oil cuts fell slightly in September, sources said, indicating that as the alliance raises production targets, some members are still falling short as they face challenges in...
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October 02,2021Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries.
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October 01,2021Oil fell below $78 a barrel on Friday on the prospects of OPEC+ producers stepping up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high...
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September 29,2021OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change.
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September 22,2021Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary-General Mohammed Barkindo told CNBC.
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September 14,2021OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and output disruptions elsewhere.
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July 19,2021US investment bank Goldman Sachs said the OPEC+ agreement to boost oil supplies supports its view on oil prices and expects a modest “upside” from its summer forecast for Brent to reach $80 a...
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July 17,2021OPEC forecast a gradual recovery in demand for its crude this year and next, as the group closes in on a deal to revive the production still shuttered since the pandemic.
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June 23,2021OPEC+ is discussing whether to further boost production at next week’s meeting, as the oil market looks increasingly tight.
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June 12,2021OPEC predicted that the recovery in global oil demand will gather strength in the second half of the year, as the group prepares to consider reviving more halted output.
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June 02,2021OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the...
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June 01,2021A year after shuttering unprecedented volumes of crude, the OPEC+ alliance is expecting world oil markets to get acutely tight.
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May 10,2021A resurgent Iran pumped its largest volume of crude in almost two years in April, while an increasingly compliance-challenged Russia also boosted its output yet again, bringing total production by...
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May 02,2021Russian oil and gas condensate output rose 2% to 10.46 million barrels per day in April, from 10.25 million bpd in March, according to Reuters calculations based on an Interfax report on Sunday...
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April 28,2021OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India.
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April 02,2021The Organization of the Petroleum Exporting Countries and allied producers have agreed to gradually increase their output over the next three months. The move follows a sharp increase in oil prices...
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March 05,2021Oil prices jumped more than $1 a barrel on Friday, hitting their highest levels in nearly 14 months, after OPEC and its allies agreed not to increase supply in April as they await a more...
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February 28,2021The OPEC+ group of producers’ compliance with the oil output cuts in January hit 103%, higher than the estimated compliance in December.
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February 22,2021Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market.
