Minister of Petroleum and Mineral Resources Tarek El Molla met with OPEC Secretary General Haitham Al Ghais to discuss the developments in energy markets in light of the many global challenges the international co ...
For the fourth time since April, OPEC reduced its projection for the rise in global oil demand in 2022 and lowered its estimate for the following year, citing weakening economies, the revival of China's COVID-19 c ...
Several people with knowledge of the situation said on Monday that Saudi Aramco has informed at least seven customers in Asia that they will get full contract volumes of crude oil in November before the peak winte ...
According to OPEC sources, OPEC+ may consider reducing oil production by more than 1 million barrels per day the following week in order to address the weakness in oil market. This would be the largest action take ...
OPEC maintained its predictions for strong growth in global oil demand in 2022 and 2023, citing indications that major economies were performing better than anticipated despite challenges including rising inflatio ...
Sources talking to the Wall Street Journal stated that Russia does not favor a reduction in oil production at this time and that it is probable OPEC+ will maintain its output.
According to data from the state-owned marketer SOMO seen by Reuters on Wednesday, Iraq produced 4.584 million barrels of crude oil per day (mmbbl/d) in July, up 69,000 from June.
At a time when high oil prices and unstable energy supplies have been exacerbated by Russia's war on Ukraine, OPEC and its allies decided to slow production growth in September.
OPEC's new secretary general stated that Russia's membership in OPEC+ is vital to the agreement's success, Kuwait's Alrai newspaper reported on Sunday.
OPEC+ will continue to assess market conditions and do what is necessary as a result of a US-Arab summit on Saturday, according to Saudi Arabia's foreign minister, Reuters reported.
