(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…
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,…
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…
(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…
(Reuters) – Goldman Sachs has raised its oil price forecast for this year and 2023, as the U.S. bank expects the 2 million barrels per day (bpd) output cut agreed…
By Jason Lange, Joseph Ax and David Morgan WASHINGTON (Reuters) – A production cut by the OPEC+ oil cartel is reigniting U.S. voters’ No. 1 fear – high inflation –…
LONDON (Reuters) – OPEC+ surprise deep oil production cuts agreed this week are set to benefit Russia most while tightening supply to the West already suffering from record energy prices.…
By Timothy Gardner WASHINGTON (Reuters) – U.S. legislation that could open members of oil producing group OPEC+ to antitrust lawsuits has emerged as a possible tool to tackle high fuel…
By Steve Holland WASHINGTON (Reuters) – The United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters,…
OPEC, Russia Consider Sending Oil Prices Even Higher Jack McEvoy on October 3, 2022 The Organization of the Petroleum Exporting Countries (OPEC) and Russia are considering significantly cutting oil…
By Maha El Dahan and Olesya Astakhova DUBAI (Reuters) -OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said…
DUBAI (Reuters) -OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some…
By Alex Lawler and Maha El Dahan LONDON/DUBAI Reuters) – OPEC+ oil producers considering lowering their output target at a meeting on Oct. 5 are focused on a cut of…
By Olesya Astakhova and Ahmad Ghaddar LONDON/MOSCOW (Reuters) – The oil market will have a small surplus of just 0.4 million bpd in 2022, much less than forecast earlier, according…
WASHINGTON – The Biden administration is focused on keeping oil prices down, the White House said on Wednesday after OPEC+ members decided top raise oil output by 100,000 barrels per…
By Alex Lawler and Ahmad Ghaddar LONDON – OPEC and its allies will consider keeping oil output unchanged for September when they meet next week, despite calls from the United…
By Maha El Dahan and Ghaida Ghantous DUBAI – The United States is optimistic that there could be some positive announcement when OPEC+ meets next week, a senior administration official…
JEDDAH, Saudi Arabia – Saudi Arabia’s foreign minister said a U.S.-Arab summit on Saturday did not discuss oil and that OPEC+ would continue to assess market conditions and do what…
By Alex Lawler LONDON – OPEC in June did not deliver on an oil output increase pledged under a deal with allies, a Reuters survey on Friday showed, as involuntary…
OPEC To Finally Boost Oil Production Ahead Of Biden’s Saudi Arabia Trip Jack McEvoy on June 30, 2022 The Organization of the Petroleum Exporting Countries (OPEC) and its partners agreed…
By Maha El Dahan, Alex Lawler and Ahmad Ghaddar LONDON -OPEC+ said on Thursday it would stick to its planned oil output hikes in August but avoided discussing policy from…
By Ahmad Ghaddar and Alex Lawler LONDON – OPEC and allied producing countries including Russia will likely stick to a plan for accelerated oil output increases in August, sources said,…
(Reuters) – Some OPEC members are considering the idea of suspending Russia in an oil production deal as Western sanctions hurt the nation’s ability to produce more, the Wall Street…
By Alex Lawler, Julia Payne and Ron Bousso LONDON/LAGOS – Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data…
DIPLOMATIC FAIL: OPEC Once Again Rebuffs Biden’s Pleas For More Oil Thomas Catenacci on May 4, 2022 The Organization of the Petroleum Exporting Countries (OPEC), the powerful Middle Eastern oil…