OPEC
OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization oil demand supply market upstream downstream Vienna Austria
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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. -
June 10,2022Crude 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...
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June 01,2022The 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.
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May 10,2022Crude 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...
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May 06,2022Oil 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...
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April 12,2022OPEC 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...
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March 16,2022Russia’s invasion of Ukraine threatens to intensify the surge in global inflation, hurting oil demand and investment, the Organization of Petroleum Exporting Countries warned.
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March 08,2022OPEC 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...
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March 02,2022Saudi 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...
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February 02,2022OPEC+ 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...
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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%.
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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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