OPEC

Saudi Arabia and the United States will get over their "unwarranted" spat over oil supplies, the Kingdom's Investment Minister told a business forum in Riyadh on Tuesday, highlighting long-standing corporate and...

Turkiye has called on Friday to lift sanctions imposed by the US and the West on Venezuela and Iran to help alleviate the international energy price crisis. "The entire...

Turkish Foreign Minister Mevlut Cavusoglu has stated that his country cannot accept US threats to Saudi Arabia after the OPEC+ decision to reduce oil production. In a statement reported...

Former Prime Minister of Qatar Sheikh Hamad Bin Jassim Bin Jaber Al-Thani has stated: "The price of a barrel of oil should have been more than $250 by now...

New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers, whose plans to cut output...

Jordan yesterday called for direct dialogue between the United States and Saudi Arabia to discuss reported tensions over a recent OPEC+ decision to reduce oil production. The Jordanian Ministry...

Kuwait, Jordan, Pakistan and Djibouti have voiced their full solidarity with Saudi Arabia in the face of American criticism over the recent decision by the Saudi-led OPEC+ group to...

The United Arab Emirates believes that OPEC+ made the correct technical choice when it agreed to cut production and the unanimous decision had nothing to do with politics, Energy...

Egypt backs Saudi Arabia's decision to cut oil production as part of the OPEC+ group, the Egyptian Foreign Ministry announced yesterday. "Egypt endorses the stance expressed by the sisterly...

The United States administration of President Joe Biden will act "methodically" in its response to Saudi Arabia's oil production cuts, as tensions between the two allies continue to grow...

OPEC+ member states lined up on Sunday to endorse the steep cut to its output target agreed this month, after the White House, stepping up a war of words...

Algeria's Minister of Energy and Mines, Mohamed Arkab, and OPEC Secretary General Haitham Al-Ghais have endorsed the cut in oil production agreed this month by the OPEC+ alliance, Anadolu...

An Israeli diplomat has attacked Saudi Arabia for its decision to cut oil production and for its "public insult" of the US, criticising it for being an "unreliable ally"....

US President, Joe Biden, is likely to tap the brakes on any new arms sales to Saudi Arabia, amid an ongoing row with the Kingdom over oil production cuts,...

Saudi Arabia pushed other OPEC+ nations into an output cut last week, the White House claimed on Thursday, part of an escalating war of words between the two countries,...

Saudi Foreign Minister Prince Faisal Bin Farhan met his Nigerian counterpart, Geoffrey Onyeama, and discussed strengthening bilateral cooperation and coordinating positions on regional and international issues as well as...

Neither side is backing down in a battle of wills over oil, between Saudi Arabia's Crown Prince and US President Joe Biden, putting a severe strain on their countries'...

Moscow will continue to work with the Organisation of the Petroleum Exporting Countries (OPEC) led by Saudi Arabia and will not give up its leading position in the global energy...

You have probably heard of OPEC: Oil Producing and Exporting Countries. Nowadays, the news headlines are much about OPEC+, which includes OPEC members plus Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia,...

UAE President Sheikh Mohammed Bin Zayed Al Nahyan met yesterday with his Russian counterpart Vladimir Putin and discussed bilateral relations and the latest regional and international developments. Sheikh Mohammed,...

The Chairman of the United States Senate Foreign Relations Committee has called for a "freeze" on cooperation with Saudi Arabia, after the Kingdom defied Washington's demand to increase oil...

United Arab Emirates President, Sheikh Mohammed bin Zayed Al-Nahyan, will travel to Russia on Tuesday to meet with President Vladimir Putin, UAE state news agency, WAM, reported on Monday,...

US legislation that could open members of oil producing group OPEC+ to antitrust lawsuits has emerged as a possible tool to tackle high fuel prices, after the body said...

Amir Hossein Zamani Nia, Iran's OPEC governor, announced when he left a meeting with representatives of the 13 member states of the Organisation of Petroleum Exporting Countries (OPEC) and...

US President Joe Biden expressed disappointment on Thursday over announced plans by OPEC+ nations to cut oil output, and he and officials said the United States was looking at all possible alternatives...

The cuts come into effect in November 2022 and go against US calls to increase production to reduce prices ahead of midterm elections

Oil prices started the day with a 0.64 per cent increase compared to Monday's closing, ahead of the OPEC+ meeting on 5 October, when OPEC+ producers will decide on...

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...