OPEC

The Organization of the Petroleum Exporting Countries (OPEC), oil output fell in November, led by top exporter Saudi Arabia and other Gulf members, after the wider OPEC+ alliance pledged steep output cuts to support the market amid a…
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The oil market has shown extreme sensitivity to suggestions that OPEC+ ministers might consider increasing output targets, a recent report from Standard Chartered highlighted. “A report on 21 November that suggested so led to a…
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As investors balanced continuing demand worries against constrained global supply, Brent oil futures fell more than 2% to below $87 per barrel amid rising economic uncertainty. Market analysts noted that a deteriorating outlook for…
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Saudi Arabia denied a report that it is discussing an oil-production increase for the OPEC+ meeting next month, and said it stands ready to make further cuts if needed.  Crude futures pared earlier losses, trading 1.8% lower at…
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The Organisation of Petroleum Exporting Countries (OPEC) has placed Nigeria as the fourth oil producing country in Africa. Like in previous months, OPEC revealed that Angola, Algeria and Libya produced more oil in October…
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Russia's President Vladimir Putin (R) shakes hands with Saudi Arabia's Crown Prince Mohammed bin Salman during a meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. (Photo by Yuri KADOBNOV / POOL / AFP) (Photo…
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The Organisation of Petroleum Exporting Countries(OPEC) Secretary General, Haitham Al Ghais, at the weekend  said the oil industry needs to increase investments in capacity and new production to avoid rampant volatility. Al Ghais…
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OPEC Secretary-General, Al Ghais (left) with Valuechain publisher, Musa Bashir Usman at the AEW in Cape Town By Yange Ikyaa in Cape Town The Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham…
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A soldier guards the entrance to the Organization of the Petroleum Exporting Countries’ headquarters in Austria’s capital Vienna on Tuesday, Oct. 4, 2022. AFP PHOTO The decision last week by petroleum exporters to cut production…
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SlavkoSereda/iStock via Getty Images Crude oil prices pared earlier losses on Monday after Saudi Oil Minister Prince Abdulaziz bin Salman said futures prices do not reflect underlying fundamentals of supply and demand, which may require…
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