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3 mins read
OPEC+ reportedly considers early meeting this week to discuss possibility of extending oil production cuts up until end of the year
OPEC+ may meet as early as Thursday at the request of Algeria, who holds the rotating presidency of…
Saloni Sardana
1 min read
OPEC Plus will continue oil output cuts as prices remain unchanged
OPEC described the move as aiming to "achieve and sustain a stable oil market, and to provide long-…
ANI
1 min read
OPEC+ to cut oil output by 2 million bpd from November
The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+…
3 mins read
OPEC's second largest member just made its biggest commitment to curb crude production this month
Iraq has been a long-time laggard in sticking to OPEC+'s crude deal. Bloomberg data shows it cut oi…
Saloni Sardana
1 min read
Ahead of Biden's Mideast visit, OPEC's latest forecasts show how hard it will be for the cartel to balance the market
OPEC member countries are already struggling to keep pace with demand, with pressure ramping up nex…
Brian Evans
3 mins read
Russia could be suspended from OPEC's oil-output agreement. 4 experts lay out what that could mean for the price of oil and the wider energy market.
OPEC members discussed removing Russia from its monthly supply quota agreement, WSJ reported. Here'…
Zahra Tayeb
1 min read
OPEC's secretary general Mohammad Barkindo dies aged 63
Barkindo died unexpectedly late Tuesday in his home country of Nigeria, just weeks before he was se…
George Glover
2 mins read
Oil prices climb 5% after UAE appears to backtrack on its earlier call for OPEC+ to boost output faster
"We favor production increases and will be encouraging OPEC to consider higher production levels," …
Shalini Nagarajan
2 mins read
Oil holds above $75 as investors weigh OPEC+ deadlock with fresh talks ahead
Analysts say that if the deadlock is not resolved, oil prices could either skyrocket if supply is t…
Sophie Kiderlin
2 mins read
OPEC members are considering oil-production cuts ahead of schedule in order to backstop plunging prices, new report says
The consideration from OPEC members comes after the price of oil plunged more than 320% Monday and …
Carmen Reinicke
1 min read
Oil prices hit highest in 6 weeks after OPEC+ keeps production hike modest
Led by OPEC's Saudi Arabia and non-OPEC member Russia, the group will collectively pump an addition…
Phil Rosen
2 mins read
Oil hits 3-year high after OPEC+ abandons their meeting, meaning supply could tighten even further
Now that there's no deal to boost production more quickly, it could signal tighter supply and risin…
Shalini Nagarajan
2 mins read
Oil demand will rebound sharply in 2021, surpassing pre-virus levels, OPEC says
While demand for OPEC-sourced oil will soar next year, world oil demand will fail to return to its …
Ben Winck
2 mins read
Oil nears $50 for the first time since the start of the pandemic after OPEC+ agrees to a gradual output increase of just 500,000 barrels a day in January
The group's agreed output is well below the expected 2 million barrels per day. Future output level…
Shalini Nagarajan
1 min read
Russia will lose its relevance in OPEC+ as sanctions continue to weigh on oil production, top energy analyst says
Russia may fade as a major player in OPEC+, a top energy analyst told CNBC. Sanctions are squeezing…
Brian Evans
4 mins read
Wall Street's best-known oil analyst says smaller nations may start 'cheating' the system if OPEC eases production cuts, and it could cause a fresh supply crunch
OPEC+ is meeting on Wednesday to discuss whether to ease oil production cuts from August onwards, a…
Saloni Sardana
2 mins read
Oil surges after OPEC+ ends compliance dispute and sets a weekend meeting to confirm longer production cuts
OPEC+ countries were due to meet Thursday but concerns on lack of compliance by countries such as I…
Saloni Sardana
2 mins read
OPEC has told the EU it's 'nearly impossible' to replace Russian oil cut off by sanctions or boycotts
The EU is trying to wean itself off Russian energy on the back of the Ukraine war. It's banning Rus…