You Searched For "Opec" and got 20 results
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1 min read
Oil prices briefly spike as Russia suggests more OPEC+ cuts will hit markets in 2024
But oil prices later gave up gains and turned lower, with Brent crude and West Texas Intermediate b…
Jennifer Sor
2 mins read
OPEC and Saudi Arabia are losing their grip on the oil market as prices see the longest fall in 5 years
Saudi Arabia could be pushed to flood the oil market with supply in a bid to regain control of pric…
Jennifer Sor
1 min read
Russia's weekly oil flows spike to the highest in 5 months as OPEC and allies grapple over cuts to output
Russian oil exports jumped over the last week. OPEC and its allies have been trying to curb output …
Jennifer Sor
1 min read
OPEC says 'exaggerated concerns' about demand are hitting oil prices but still sees a slowdown in 2024
"The market dynamic was fuelled by exaggerated concerns about oil demand growth, which negatively i…
Filip De Mott
1 min read
Oil prices tumble as OPEC+ pushes back key meeting and Saudi Arabia grows frustrated
Saudi Arabia has expressed frustration with other oil cartel members' production levels, sources to…
Phil Rosen
1 min read
The US isn't the only one eating into OPEC's market share — Brazil and Guyana are hitting record oil production volumes
Brazil and Guyana have emerged as crude-producing giants in 2023, and they are commanding an increa…
Phil Rosen
2 mins read
Record-breaking oil production from the US has left OPEC with its lowest crude market share in nearly a decade
The IEA said global oil demand has slowed sharply amid economic turmoil, while the US, Brazil, and …
Phil Rosen
2 mins read
OPEC will gain more control of the oil market in 2024, and can raise production again in the 2nd half of the year, energy firm says
The oil cartel has cut the right amount of production to keep markets balanced to start next year, …
Phil Rosen
1 min read
More oil supertankers than ever are headed for the US to load up on crude for export as OPEC+ curbs supply
A record-high 48 oil supertankers are making their way to the US, according to data compiled by Blo…
Aruni Soni
2 mins read
Oil prices could crash 50% if OPEC+ lets output rise and doesn't extend cuts through 2024, Citi commodities research chief says
Eliminating oil production cuts would be "so painful" for OPEC that the organization is likely to s…
Filip De Mott
1 min read
The oil market is at risk of a supply shortage as peak demand is still 10 years away, Goldman Sachs says
Demand for crude is set to climb through 2034, as major oil producers pull back on spending, Goldm…
Jennifer Sor
1 min read
Oil markets could shift into surplus in early 2024 as demand growth slows and non-OPEC+ producers lead supply growth, IEA says
Oil supply is booming, especially from non-OPEC+ countries, and it will encounter slowing demand ne…
Aruni Soni
2 mins read
Peak oil demand before 2030 will usher in a major supply glut, the International Energy Agency says
As global demand for oil plateaus this decade, heavy production will create a massive supply glut t…
Filip De Mott
1 min read
Russia is about to overtake Saudi Arabia as the top OPEC+ producer
Saudi Arabia's oil production will fall to just 9 million barrels per day, the lowest volume in two…
Jennifer Sor
2 mins read
OPEC+ output witnesses biggest drop in six months, falling short of agreed cuts
In January, OPEC+ crude output witnessed a decline of 340,000 b/d, attributed partly to voluntary c…
ANI
1 min read
Russia and Saudi Arabia have likely made close to $3 billion this quarter as OPEC+ production cuts push oil toward $100 a barrel
Saudi Arabia has likely pulled in an extra $30 million a day in oil revenue, or about $2.6 billion …
Jennifer Sor
3 mins read
Crude oil market at the crossroads — S&P Global Commodity insights unveils in-depth 2024 energy outlook
According to S&P Global, against the backdrop of a turbulent global stage, characterized by economi…
ANI
1 min read
Oil prices drop as reports say Israel and Hamas could soon head for cease-fire talks
Oil prices dropped Monday. Israel and Hamas could meet in Cairo for talks as soon as Tuesday, The N…
Yuheng Zhan
1 min read
Russia's cheap crude sends OPEC's market share in India to a record low
Russia now supplies India with more than a third of its oil imports, versus less than 1% before Mos…
Phil Rosen
2 mins read
Oil prices spike 6% after OPEC's unexpected supply cut
The oil cartel announced it was slashing production by over 1 million barrels a day, shrugging off …