8 OPEC+ members to further extend their voluntary output cuts by a month
Eight member countries of the OPEC+ oil-producing group anounced on Sunday to further extend their voluntary output cuts by a month, pushing the reductions through…
Big Oil Dials Up Output Growth Just as OPEC Mulls Supply Boost
Breadcrumb Trail LinksPMN BusinessExxon Mobil Corp. and Chevron Corp. capped Big Oil earnings season by revealing blockbuster increases in fossil fuel production — just as…
Will tensions in the Middle East lead to another energy price shock in Europe?
Will tensions in the Middle East lead to another market price shock in Europe? Energy analyst Dr Yousef Alshammari shares his outlook on oil prices…
Oil prices sink to nine-month low amid global economic uncertainty
Crude prices slumped following weak economic data from the US and China, which dampened demand outlooks. Risk-averse sentiment continued to dominate global markets. ADVERTISEMENTCrude oil…
Russia’s Oil Drilling Slips From Record Amid OPEC+ Output Curbs
Breadcrumb Trail LinksPMN BusinessRussia’s oil firms have reduced pace of drilling from last year’s record as the nation deepened its OPEC+ production cuts.Author of the…
Oil market braces for OPEC decisions as crude prices climb
Crude prices are experiencing upward pressure ahead of the upcoming OPEC+ policy meeting. However, the long-term outlook for oil markets remains uncertain due to the…
OPEC+ oil giants extend oil output cuts amid economic uncertainty
Russia is among the countries announcing cut extension, announcing an additional voluntary reduction of 471,000 barrels per day for the second quarter. ADVERTISEMENTSome members of…
OPEC report shows uneven delivery of new oil production cuts
OPEC only partially delivered new oil production cuts in the first month of its latest supply pact, according to a report from the group. The…
Angola Quits OPEC Due to Disputes Over Quotas
For Angola, membership status is not the sole concern but the Organization of the Petroleum Exporting Countries (OPEC) must necessarily serve its business interest. If…
Angola to leave OPEC over disagreement on oil production quotas | OPEC News
Oil minister says the country ‘gains nothing’ from remaining in the group after disagreements emerge over production cuts. Angola says it will leave the Organization…
Putin’s Gulf tour: A strategic shift in Russia-Ukraine war?
Flanked by four Russian jets, President Vladimir Putin arrived in the Middle East in a rare trip abroad during which he will discuss oil, Gaza…
OPEC rallies members against fossil fuels phase out at COP 28 | Climate Crisis News
The head of OPEC has urged members to reject any COP28 agreement that “targets” fossil fuels, highlighting deep divisions as the UN climate conference in…
OPEC+ agrees voluntary oil production cuts | OPEC News
Saudi Arabia, Russia and other members of OPEC+ agreed to voluntary output cuts for th first quarter of 2024. OPEC+ producers have agreed to voluntary…
Oil rises on expectations of further OPEC+ supply cuts
Oil futures rose more than $1 on Monday, extending gains on the prospect of OPEC+ deepening supply cuts to shore up prices after four weeks…
OPEC plans no immediate action after Iran urges Israel oil embargo, sources say
OPEC is not planning to hold an extraordinary meeting or take any immediate action after Iran's foreign minister called on members of the Organisation of…
Iran aims to boost oil output, complicating OPEC+ and US efforts
Iran plans to keep raising oil production as back-door diplomatic efforts with the US appear to be easing pressure on the Middle Eastern nation, according…
Oil holds steady near four-month high on OPEC+ cuts
Oil prices hovered near their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to extend supply cuts through September, further tightening…
Will food prices get higher? | Food
The war in Ukraine, heatwaves and export bans on essential staples – threats to food supplies are rising once again. Scorching temperatures have ravaged farms…
Oil eases ahead of China, US data, but OPEC+ cuts limits slide
Oil prices dipped in Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China…
How will Saudi Arabia’s oil output cut affect prices? | Oil and Gas
Video Duration 26 minutes 00 seconds 26:00 Saudi Arabia goes it alone in cutting oil production by one million barrels a day starting in July.…