OPEC

The Organisation of Petroleum Exporting Countries (OPEC) on Tuesday upheld its December 3, 2020 decision to increase crude oil production output by 500,000 barrels per day for February and March, 2021. The plan will, however, see…
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The price of Brent oil gained more than four per cent yesterday as the Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, resumed talks on February production quota. Brent oil price hit over $53 a…
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Oil traders appear increasingly confident that major producers will reach an agreement to cap output thanks to comments from Russia’s energy minister on Monday, but Saudi Arabia still holds the cards that will determine how far the rally…
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A monthly report from the Organization of the Petroleum Exporting Countries released Tuesday raised further doubts whether major crude producers will continue their efforts to rebalance the oil market. U.S. crude production is on the…
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*Kingdom to curb 1 million b/d of supply in February, March*Crude surged to 10-month high above $50 a barrel in New York Saudi Arabia surprised the market with a large cut in crude production, a bold assertion of primacy over the global…
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Members of the Organisation of the Petroleum Exporting Countries (OPEC) and allied producers under OPEC+, yesterday, agreed to cap crude production at current levels in February. The decision was taken at the Joint Ministerial Monitoring…
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Oil prices retreated from multi-month highs as the prospect an upsurge in the novel coronavirus will lead to tougher movement restrictions offset expectations OPEC and allied producers will decide on Monday to cap output at current levels…
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Most OPEC+ oil-producing countries oppose plans to increase output from February as winter lockdowns to contain the coronavirus choke demand, three OPEC+ sources told Reuters on Monday. OPEC+, which groups OPEC and other producers…
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The Organisation of the Petroleum Exporting Countries (OPEC) sees plenty of downside risks for oil markets in the first half of 2021, Mohammad Barkindo, its Secretary-General said on Sunday. Barkindo’s remark is coming a day before…
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Members of the OPEC group of oil producers and their partners will meet via videoconference on Monday to decide on production levels for February, hoping to turn the corner on a difficult year. The OPEC+ ministerial meeting comes after…
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