OPEC

The OPEC+ group of oil producers is discussing output cuts of more than 1 million barrels per day (bpd), OPEC sources said, and voluntary cuts by individual members could...

Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian...

OPEC+ members have trusted their Chairman, Saudi Energy Minister, Prince Abdulaziz bin Salman Al-Saud, to intervene whenever necessary to stabilise crude markets through calling for a meeting at any...

The oil market will have a small surplus of just 0.4 million barrels per day in 2022, much less than previously forecasted, according to OPEC+, due to underproduction, Reuters reported OPEC+...

The United Arab Emirates and Sudan have expressed their support for comments made by Saudi Arabia regarding the possibility of introducing production cuts to balance an oil market it...

Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices, not OPEC, the producer group's new Secretary-General, Haitham Al Ghais, told Reuters on...

OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was an insult to US President Joe Biden after his trip...

Haitham Al Ghais of Kuwait started his role, Monday, as Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC) at the Secretariat in Vienna, Austria, Anadolu News Agency...

Russian President, Vladimir Putin, and Saudi Crown Prince, Mohammed bin Salman, spoke by phone on Thursday and underlined the importance of further cooperation within the OPEC+ group of oil...

US President Joe Biden's Middle East tour was muddled from the start, and his administration's regional policy was criticised by analysts for lacking clarity and direction. The results of...

The White House, on Monday, said it anticipates major oil producers in the OPEC+ alliance to increase crude production following President Joe Biden's trip to the Middle East, Reuters reports....

Oil prices rose by 2.5 per cent on Friday after a US official told Reuters that the US does not expect Saudi Arabia to immediately increase oil production and...

President Joe Biden arrives in Saudi Arabia

When French President, Emmanuel Macron, whispered in Joe Biden's ear last month that top global oil exporter, Saudi Arabia, has very little additional capacity to increase output, the US...

Saudi Arabia's push for swifter oil production hikes by OPEC+, which were agreed in June, involved behind-the-scenes diplomacy to ensure Russia backed the move that followed US appeals for...

OPEC+ said, on Thursday, it would stick to its planned oil output hikes in August, but avoided discussing policy from September onwards as prices have risen on tight global...

A US Senate committee is expected to pass a Bill on Thursday that could open members of the Organisation of the Petroleum Exporting Countries and its partners to antitrust lawsuits for...

A US Senate Committee passed a Bill on Thursday that could expose the Organisation of the Petroleum Exporting Countries and partners to lawsuits for collusion on boosting crude oil prices, Reuters reports. The No...

OPEC+ will likely stick to modest oil output increases on Thursday, arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook...

OPEC+ is set to agree on another small increase in production targets for June, delegates from the group say, as expectations that sanctions will crimp Russian output further counter...

Algeria has completed work on a crude oil refining project in Hassi Messaoud, the largest oil city in the country, to pump 60,000 barrels per day. state-owned Sonatrach said...

A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West's energy watchdog reflected concern about US influence on the figures, sources close to...

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...

The commitment of the OPEC+ group of oil exporting nations to output targets have contributed to absorbing an excess of supply in the market, Iraq's state-news agency cited the Oil Ministry as saying...

UAE Energy Chief has doubled down on OPEC's alliance with Russia and insists that Moscow will always be part of the inter-governmental organisation. Abu-Dhabi's Energy Minister, Suhail Al-Mazrouei, said...

OPEC+ will likely stick to plans for a modest increase in oil output in May, several sources close to the group said, despite a surge in prices due to...

Saudi Arabia yesterday warned of Iran's continued supply of ballistic missiles and drones to Yemen's Houthis, stressing that they pose a threat to global oil supplies. The Saudi Council...

UAE Foreign Minister, Sheikh Abdullah Bin Zayed Al Nahyan, met yesterday with Russian Minister of Foreign Affairs, Sergey Lavrov, in Moscow and discussed cooperation between the two countries and...

The Head of Libya's Government of National Unity (GNU) tweeted, on Wednesday, that OPEC countries should boost oil output, a move that may have no real impact on the...

The United States and Britain are ramping up pressure on Saudi Arabia to pump more oil and join efforts to isolate Russia, while Riyadh has shown little readiness to...

By single-handedly knocking 13 per cent off rocketing oil prices on one day this week, the United Arab Emirates demonstrated the power Gulf producers wield in the market and...

The UAE denied the statements of its Ambassador in Washington, Yousef Al-Otaiba, in which he said that Abu Dhabi prefers an increase in oil production and will urge OPEC to consider...