OPEC

OPEC

OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization oil demand supply market upstream downstream Vienna Austria

  • OPEC+ Crude Output Makes Biggest Gain in 5 Months
    OPEC 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...
  • Russia’s OPEC+ Role Crucial 
    Russia’s OPEC+ Role Crucial 
    OPEC'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.  
  • Oil Prices Rise as Chances of OPEC+ Supply Boost Weaken
    Oil 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.  
  • US: OPEC Has Capacity to Increase Crude Production
    The 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...
  • OPEC+ Running Out of Production Capacity
    The 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.  
  • OPEC: Oil Demand to Slow
    OPEC expects the pace of oil demand growth to halve next year, as inflation and conflict grip the global economy.  
  • OPEC+ Production Rebounds
    Crude oil production from OPEC and its Russia-led allies rebounded modestly in May from a steep drop in April, but remains well short of its collective quotas, highlighting the group's continuing...
  • OPEC+ Sticks With Supply Plan
    The OPEC+ coalition will likely hold firm to its oil production plans this week, even as the European Union moves to sanction group member Russia, delegates said.  
  • OPEC+ April Crude Supply Falls
    Crude oil production by OPEC and its partners fell to a six-month low of 41.58 million bpd in April, as Russian production took a battering from Western sanctions, the latest Platts survey by S...
  • OPEC+ to Boost Output Again
    Oil producer group OPEC+ on Thursday agreed to rubber-stamp another small production increase for June, amid persistent concerns over weaker Chinese demand and shortly after the world’s largest...
  • OPEC: Replacing Russian Oil Supply Shortfall Impossible
    OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst-ever oil supply shocks and it would be impossible to replace those volumes, and...
  • Ukraine War Threatens Crude Demand, Investment: OPEC
    Russia’s invasion of Ukraine threatens to intensify the surge in global inflation, hurting oil demand and investment, the Organization of Petroleum Exporting Countries warned.   
  • OPEC Upbeat About Stability
    OPEC remains focused on being a reliable supplier of oil to global markets but cannot control the global events causing oil price surges, said Secretary-General Mohammad Sanusi Barkindo during the...
  • OPEC+ Commitment Unaffected by Ukraine Invasion, High Demand
    OPEC+ Commitment Unaffected by Ukraine Invasion, High Demand
    Saudi Arabia on Tuesday reaffirmed its commitment to an OPEC+ agreement with Russia in the oil markets, despite widening sanctions on Moscow and global outrage over its military assault on Ukraine...
  • OPEC+ Sticking to Policy Despite Oil Price Rally
    OPEC+ Sticking to Policy Despite Oil Price Rally
    OPEC+ will likely stick to its policies of moderate output increases on Wednesday, five sources from the producers' group said. even as it expects demand to rise to new peaks this year and as oil...
  • OPEC+ Alliance Hopes Oil Market Can Absorb Another Output Hike
    In 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%.  
  • OPEC Upbeat on Oil Demand
    OPEC 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...
  • Oil Rebounds on Speculation OPEC+ May Pause Output Raise
    Oil 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...
  • US Challenges OPEC+ With Release of Crude Reserves
    The 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...
  • OPEC+ Unable to Meet US Demand
    US 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...
  • OPEC Chief: COP26 a Wakeup Call
    The 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”.  
  • OPEC+ Misses Output Target Again
    OPEC+ 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...
  • OPEC, Major Oil Firms Differ on Pathways to Energy Transition
    Two 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.   
  • Oil Slips Below $78 as OPEC+ Weighs Further Output Hike
    Oil 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...
  • OPEC Projects Oil Demand to Keep Growing Until 2035
    OPEC 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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