OPEC

OPEC expects the pace of oil demand growth to halve next year, as inflation and conflict grip the global economy. World oil consumption will expand by 1.8 million barrels a day, down from the 3…

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…

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. Global oil supply…

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…

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 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…

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 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…

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…

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…

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 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…

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…

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…

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…

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+ 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…

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 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 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. Global fuel consumption will fully…

Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary-General Mohammed Barkindo told CNBC.  “I have talked about a new premium that is emerging…

OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and output disruptions elsewhere. The latest data from the group indicate that the world will…

US 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…

OPEC 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. The need for supplies…

OPEC+ is discussing whether to further boost production at next week’s meeting, as the oil market looks increasingly tight. Moscow is considering making a proposal that the group should ease a…