Iraqi oil minister Jabar al-Luaibi released a statement on June 11 in which he warned producers against being pressured to boost output levels, adding that unilateral decisions could collapse the OPEC and non-OPEC ...
Saudi Arabia has boosted oil output to over 10 million barrels per day (b/d), the highest level since October 2017.
Saudi Aramco has increased the price of crude exports to Asian buyers to their highest levels since 2014 amid rising demand for Saudi oil.
The UAE and Russia have signed a declaration of strategic partnership during Crown Prince Sheikh Mohamed bin Zayed’s visit to Moscow.
Iran has stated that it doesn't support Saudi Arabia’s desire to increase global oil supplies.
Saudi Arabia and Russia will discuss allowing oil production to increase by around 1 million barrels per day (b/d) in an effort to ease concerns over a supply shortage and high oil prices.
Saudi crude exports fell to 7.122 million barrels per day (mb/d) in March 2018 from 7.251 mb/d in February.
Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.
The Organization of Petroleum Exporting Countries (OPEC) has more important issues to consider than the US decision to withdraw from the 2015 nuclear agreement with Iran, United Arab Emirates Energy Minister Suhai ...
An extension to the oil production cuts will not be necessary if crude prices continue to rise, Iranian Oil Minister Bijan Zanganeh has said.
