OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the Covid-19 pandemic on the back of output cuts and member ...

Producer group OPEC and the International Energy Agency, the world's most closely watched forecasters of oil demand growth, are further apart than they have been for at least 16 years in their ...

With the cut, OPEC's production will drop by 1.2 million barrels daily to 32.5 million barrels. The deal takes effect at the start of 2017.

OPEC has not invited Reuters or Bloomberg news agencies to report on ministerial meetings in Vienna this weekend to discuss future oil policy, according to reporters, Bloomberg and an OPEC source ...

OPEC agrees to keep oil production cut, likely maintaining high prices through November election Saudi Arabia has ambitions to diversity its economy away from fossil fuel exports.

The death of Opec, the oil-producers cartel, has been predicted many times in the past, but rarely from a member of the club which is why this time it might be correct. So, when Iran's Oil ...

OPEC-Plus’s plan to hike production by 411,000 barrels of oil per day in July comes after its recent daily increases totaling 530,000 barrels for the purpose of curbing American production and ...

In the report, OPEC said it expected investment in exploration and production outside OPEC+ in 2025 to decline by about 5% year-on-year. In 2024, investment rose by about $3 billion year-on-year ...

OPEC has a very different agenda than Trump and is not going to do what he wants just because he asks nicely.. One of President Trump’s first orders of business following the initial burst of ...

I absolutely share OPEC's view that phasing out oil is just a fantasy like the IEA's projection of peak oil demand by 2030. Equally the notions of global energy transition and net-zero emissions ...

The OPEC Plus cuts will coincide with the conclusion of that initiative. The timing will amplify the impact, and Mr. Biden is considering releasing more oil reserves intermittently through the winter.

An oil port at Ras Tanura, Saudi Arabia, in 2018. The kingdom and seven other members of the OPEC Plus oil cartel will ramp up oil production by 411,000 barrels a day in July.