Brazil to join OPEC+ but won’t cap oil output, Petrobras CEO says
By Rodrigo Viga Gaier RIO DE JANEIRO (Reuters) – Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take part in the group’s coordinated output…
Factbox-What is OPEC+ and how does it impact oil prices?
(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, are known as OPEC+ and will meet in Vienna, Austria, on Nov. 26 to discuss their joint…
OPEC+ to consider whether more oil cuts needed – sources
By Olesya Astakhova and Alex Lawler MOSCOW/LONDON (Reuters) – OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources told…
OPEC+ members send less oil to U.S., adding to tight supply outlook
By Stephanie Kelly and Alex Lawler NEW YORK (Reuters) – U.S. waterborne imports of crude from OPEC+ members including Saudi Arabia have dropped steadily over the last year, further tightening supplies in…
OPEC+ ministers keep oil output policy unchanged – sources
LONDON (Reuters) – A panel meeting of the top ministers of OPEC+ has kept oil output policy unchanged on Friday, two OPEC+ sources said. The panel, called the Joint Ministerial Monitoring Committee,…
Oil to drift lower as slower growth offsets OPEC+ cuts: Reuters poll
By Rahul Paswan (Reuters) – Oil prices will stall this year as weak economic growth is expected to curb demand and offset the impact of OPEC+ production cuts on supply, a Reuters…
OPEC+ oil quota reform increases Gulf’s dominance
By Ahmad Ghaddar LONDON (Reuters) – Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman earlier this month outlined one of the biggest reforms at OPEC in recent years and presented it as…
Analysis-Inside OPEC+, Saudi ‘lollipop’ oil cut was a surprise too
By Dmitry Zhdannikov, Ahmad Ghaddar and Alex Lawler LONDON (Reuters) – Saudi Arabia kept under wraps its plan to make a deep cut to its own oil output during a weekend of…
Explainer-Why is OPEC+ cutting oil output?
LONDON (Reuters) – OPEC and its allies, including Russia, meet in Vienna on June 4 to decide on their output policy. The group, known as OPEC+, agreed on April 2 to increase…
Factbox-What have OPEC+ producers said ahead of June oil policy meeting?
LONDON (Reuters) – Mixed signals by major OPEC producers and their main allies have sparked volatility in oil prices ahead of an OPEC+ oil policy meeting set to take place this weekend.…
Russia’s Novak does not expect new steps from OPEC+ meeting
By Ksenia Orlova and Vladimir Soldatkin (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from the OPEC+ group of oil producers at its meeting…
Marketmind: Markets exhale after OPEC+ shock; RBA hits pause
By Kevin Buckland A look at the day ahead in European and global markets from Kevin Buckland Asian investors continued to weigh the impact of OPEC+’s surprise weekend decision to cut output,…
OPEC+ may spur U.S. crude oil exports, tick production higher
By Stephanie Kelly and Liz Hampton (Reuters) – OPEC’s surprise oil production cuts could lead to higher demand for U.S. oil in Europe and Asia and could encourage some other producers to…
US sees OPEC+ output cuts as unadvisable
(Reuters) – The Biden administration said the surprise oil output cuts announced on Sunday by Saudi Arabia and other OPEC+ countries were not advisable. “We don’t think cuts are advisable at this…
OPEC+ unlikely to tweak oil policy in Monday talks – delegates
By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW (Reuters) – OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from…
OPEC+ decisions not politicised, Saudi energy minister says
RIYADH (Reuters) – Decisions by OPEC+ are not politicised and are based on market fundamentals, Saudi Arabian energy minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil…
OPEC+ will keep oil policy unchanged in review talks – sources
By Rowena Edwards and Maha El Dahan LONDON/DUBAI (Reuters) – OPEC+ will likely stick to its oil output targets when it meets on Sunday, five OPEC+ sources said on Saturday, a day…
OPEC+ seen heading for oil policy rollover, cut not ruled out
By Ahmad Ghaddar, Maha El Dahan and Alex Lawler LONDON/DUBAI (Reuters) – OPEC+ is likely to stick to its current oil output target when it meets on Sunday, two OPEC+ sources said…
Oil prices could fall without further OPEC+ cut, analysts say
By Ahmad Ghaddar and Rowena Edwards LONDON (Reuters) – OPEC+ is widely expected to stick to its latest target of reducing oil production by 2 million barrels per day (bpd) when it…
OPEC+ ‘only a phone call away’ if markets need balancing – UAE minister
By Maha El Dahan, Alex Lawler and Yousef Saba ABU DHABI (Reuters) -The United Arab Emirates’ energy minister said on Monday that OPEC+ was always willing to balance crude oil markets if…
UAE says OPEC+ output cut was correct decision, no politics behind it
By Maha El Dahan ABU DHABI (Reuters) -The United Arab Emirates believes OPEC+ made the correct technical choice when it agreed to cut production targets and the unanimous decision had nothing to…
Saudi defence minister: OPEC+ decision taken unanimously for economic reasons
(Reuters) – Saudi Arabia’s defence minister said the decision by OPEC+ to cut oil output was taken unanimously and for purely economic reasons. Prince Khalid bin Salman also said he was “astonished”…
Iraq says OPEC+ decisions are based on economic indicators, taken unanimously
(Reuters) – Iraq’s Oil Marketing Company (SOMO) said on Sunday that OPEC+ decisions are based on economic indicators and are taken unanimously. “There is complete consensus among OPEC+ countries that the best…
OAPEC Sec Gen says OPEC+ decision to cut oil production ‘correct’
CAIRO (Reuters) – The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct, and was…
High Oil Prices Exacerbated By OPEC+ Cuts Could Push Global Market Into Recession, Analysis Warns
High Oil Prices Exacerbated By OPEC+ Cuts Could Push Global Market Into Recession, Analysis Warns Jack McEvoy on October 13, 2022 High oil prices that will be pushed up further by…
Factbox-Goldman raises oil price forecasts on OPEC+ cuts
(Reuters) – Goldman Sachs raised its oil price forecast for this year and next on expectations the 2 million barrels per day (bpd) output cut agreed by OPEC+ is “very bullish” for…
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