OPEC

...To tackle weakened oil demand, OPEC and its major allies agreed to a record supply cut Brent crude plunged on Thursday, keeping the bearish momentum. It has expanded losses of more than 5% recorded in the last trading session,…
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The Organisation of Petroleum Exporting Countries (OPEC), today kicked off the celebrations of its 60th anniversary by holding a special technical workshop 'OPECat60' via videoconference. The workshop was declared open by the…
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Oil prices are set to fluctuate around the $40 mark for the foreseeable future as there is too much downside risk for them to move much higherAll eyes should be on Iraq this week as it puts forward a plan to achieve full compliance to the…
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Nigeria is bridging all gaps in fulfilment of its pledge to cut production in alignment with the OPEC+ pact, as production falls by 185, 000 barrels per day. The country’s crude oil production plunged by 185,000 barrels per day to 1.59…
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Oil traders have flagged the start of hurricane season as a potential headwind for crude oil prices. Crude oil prices finished with a weekly gain of about 10% on Friday, as the sudden drop in U.S. production output of crude oil, along…
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OPEC predicted that fuel demand will remain “under pressure” during the second half of this year because of the ongoing economic fallout from the coronavirus, a day before ministers were due to assess world markets. While there will be…
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The 19th Joint Ministerial Monitoring Committee (JMMC) was held via videoconference, today, Thursday, 18 June 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and…
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OPEC + sources said that the group's technical experts had not decided on any recommendations for a further extension of a record cut in oil supplies during talks on Wednesday. The sources added, according to Reuters, that the experts…
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...During its meeting tomorrow, Thursday The Russian "TAS" agency quoted two informed sources as saying that the OPEC + Ministerial Monitoring Committee, which is scheduled to hold a meeting tomorrow, may consider extending the cuts…
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For the third day in a row, oil prices declined with the opening of Asian markets, but they rose later in the past two days. Will this happen today as well? Oil prices fell by about 2% Wednesday morning, where Brent crude fell by 63…
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