OPEC

OPEC+ did some surprising things in the past two years. First, it broke up at the start of the pandemic with its two leaders—Saudi Arabia and Russia—turning on each other because of differences of opinion on how the crisis needed to be…
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OPEC and its allies will probably stick to their existing policy of modest monthly increases in oil output at a meeting next week, four sources said, as demand concerns raised by the Omicron coronavirus variant ease and oil prices…
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The newly formed OPEC+ alliance between OPEC members and some of the world’s major non-OPEC producers, such as Russia and Mexico, has reflected positively on oil markets and helped stabilize prices. Even in light of the Covid-19…
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Brent crude futures snapped a three-day rally on Friday in light trade, with many investors away for the holidays, but the benchmark was still headed for a weekly gain, with the market focusing on the next step by OPEC+ and the impact…
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By YANGE IKYAA The most anticipated event of the week, a decision from OPEC+ on whether or not it would halt its monthly oil production increase of 400,000 bpd, ended up being a bit of a “non-event,” as member countries agreed to…
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Brent oil slumped as increasing coronavirus cases and a new Covid-19 strain raised concerns about the outlook for energy demand ahead of next week’s OPEC+ meeting on production policy. Futures in London slid toward $80 a barrel as…
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"OPEC uses secondary sources to monitor its oil output, but also publishes a table of figures submitted by its member countries" Libya has overtaken Nigeria as Africa’s top oil producer after the country's crude oil production…
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The Organisation of the Petroleum Exporting Countries (OPEC) says the delicate balance between reducing emissions, energy affordability and security requires comprehensive and sustainable policies. The OPEC said that focusing on…
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OPEC and its oil-producing partners have rebuffed President Joe Biden’s calls for increased production amidst rising fuel prices, retorting that if the United States believes the world’s economy needs more energy, then…
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“Today the decision was reiterated to maintain current parameters which were decided on earlier" By Teddy Nwanunobi The Organisation of Petroleum Exporting Countries (OPEC) and its oil-producing allies have agreed to continue…
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