OPEC

Being a speech delivered by HE Mohamed Arkab, Algeria’s Minister of Energy and President of the OPEC Conference 2020, at the 178th (Extraordinary) Meeting of the OPEC Conference, 5 March 2020, Vienna, Austria Excellencies, distinguished…
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A potential large collective production cut by members of OPEC and OPEC+ in response to the slump in demand with the Coronavirus outbreak is expected to drive oil prices upward, as Brent hits $52.46 per barrel yesterday. Organisation of…
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Ministers from the Organization of Petroleum Exporting Countries, OPEC, are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the…
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Nigeria and other members of the Organisation of Petroleum Exporting Countries will gather this week to debate whether to cut oil production further as the spread of coronavirus hits demand for crude worldwide. Reuters reported on…
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OPEC’s crude oil production fell to the lowest in more than ten years last month as a number of producers cut more deeply than they had agreed to and Libya’s output continues to fall amid the oil port blockade, a Reuters survey has shown. …
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Agency Reports A Reuters poll has indicated a slowdown in global demand for crude oil in 2020 as a result of continuous spread of the Coronavirus, which in turn will cast a shadow over OPEC’s effort to cut output and shove up prices. …
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OPEC for now is planning to hold its ministerial meeting as scheduled this week, pending a final decision Monday with a teleconference under consideration, sources told S&P Global Platts. “At the moment, we are proceeding with our…
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His comments came amid speculation that there is tension in the alliance, known as OPEC+, over whether to cut oil production furtherPrices continue to be weighed on by ample supply and falling demand and, lately, fears surrounding the…
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Consumers have some good news at the service station. Prices at the pump for gasoline and diesel are down about 6% since the beginning of the year. For that they can thank the coronavirus (now called Covid-19) outbreak—although it comes at…
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With crude oil prices shedding over $11 per barrel this year to $55, thus alarming the producers, a panel set up by the Organisation of Petroleum Exporting Countries (OPEC) and its allies have recommended a provisional cut of 600,000…
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