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…
Goldman raises oil price forecasts on ‘very bullish’ OPEC+ cuts
(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 OPEC+…
OPEC+ move reignites Americans’ top worry ahead of November midterms
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 – and handing…
Explainer-Why Russia stands to gain most from OPEC+ oil production cuts
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. OPEC+ and…
Explainer-What is NOPEC, the U.S. bill to pressure the OPEC+ oil group?
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 prices, after…
U.S. pushing OPEC+ not to cut oil output -source
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, as President…
OPEC, Russia Consider Sending Oil Prices Even Higher
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 production which…
OPEC+ to consider oil cut of over than 1 million bpd – sources
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 on Sunday,…
OPEC+ to hold Oct. 5 meeting in person in Vienna -OPEC source
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 delegations due…
OPEC+ oil output cut talks narrow to 0.5-1.0 million bpd, sources say
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 between 500,000…
OPEC+ sees tighter market in 2022, risks to oil demand growth
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 to OPEC+,…
White house says Biden focus is on keeping oil prices down after OPEC+ output increase
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 day, an…
OPEC+ to weigh holding oil output steady or small hike, sources say
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 States for…
U.S. optimistic about next OPEC+ meet – administration official
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 said on…
OPEC+ will assess oil market and do what is necessary, say Saudi foreign minister
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 is necessary.…
OPEC oil output again misses target in June as outages weigh – survey
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 declines in…
OPEC To Finally Boost Oil Production Ahead Of Biden’s Saudi Arabia Trip
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 to boost…
OPEC+ sticks to oil output policy, avoids debate on September plans
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 September onwards…
OPEC+ to stick to oil supply rise plan as Biden heads to Saudi – sources
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, hoping to…
OPEC mulls excluding Russia from oil-production deal – WSJ
(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 Journal reported…
Analysis: Nigeria and Angola responsible for almost half of OPEC+ oil supply gap
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 seen by…
DIPLOMATIC FAIL: OPEC Once Again Rebuffs Biden’s Pleas For More Oil
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 cartel, stuck…
OPEC tells IMF that oil price rally mainly due to geopolitics
By Alex Lawler LONDON – OPEC told the International Monetary Fund’s steering committee on Thursday that the surge in oil prices was largely due to the Ukraine crisis, in the latest signal…
Saudi Arabia leads OPEC decision to drop IEA data as US ties fray
By Maha El Dahan, Dmitry Zhdannikov and Alex Lawler DUBAI – A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about…
OPEC tells EU not possible to replace potential Russian oil supply loss
LONDON – OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to…
OPEC+ says prolonged Ukraine conflict would be major blow to global economy
LONDON – OPEC+ has warned the global economy would see a major blow from a prolonged conflict in Ukraine, the oil producing group said in an internal report, seen by Reuters. “Consumer…
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