Browsing: OPEC

The OPEC meeting and the OPEC+ ministerial meeting earlier planned online will be held in the capital of Saudi Arabia on June 2, two sources in delegations told TASS.

The OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, has pushed back its output policy meeting by a day to June 2.

By: Steven Sahiounie, journalist and political commentator When word broke that the Iranian helicopter was thought to have crashed, Saudi…

The tightening of petroleum supplies and depletion of inventories widely anticipated at the start of the year has failed to materialise so far

Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.

LONDON: The Organization of the Petroleum Exporting Countries on Thursday predicted robust fuel use in the summer months and stuck to its forecast for relatively strong growth in global oil demand in 2024, while saying there was a chance the world economy could do better than expected this year, according to Reuters.

The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month

Russia has decided to focus on reducing oil output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ member countries, Deputy Prime Minister Alexander Novak said on Friday.

RIYADH: Calls for completely abandoning oil and fully relying on renewable energy have been deemed “wrong” and “unrealistic” by Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries.

The project will provide funds to businesses to recover and increase resilience in the food sector to withstand future shocks, including natural disasters and climate change.