#OPEC

Eat your hearts out, Pablo Escobar, Joaquín ‘El Chapo’ Guzman and Nemesio ‘El Mencho’ Oseguera Cervantes. The richest cartel by far is still the Organisation of Petroleum Exporting Countries (...

The United Arab Emirates’ decision to leave OPEC will sharply diminish the 65-year-old producer group’s influence over the oil market, opening the door to an all‑out price war ...

The United Arab Emirates on Tuesday said it was quitting OPEC, dealing a blow to the oil producers’ group as an unprecedented energy crisis caused by the Iran war exposes ...

OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025 and raised its economic growth forecasts for both years saying there was further ...

Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts ...

Oil futures edged higher on Monday, extending gains on expectations of OPEC+ deepening supply cuts to shore up prices, which have fallen for four weeks on easing concern of Middle ...

As demand grows around the world, two top producers have cut output Oil, diesel and petrol prices have only one way to go over the next few months: up. Brent ...

Fuel prices are set to increase “by four or five cents per week until at least the end of the month”, chairman of the petrol station owners’ association Christos Christodoulou ...

OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance ...

Oil prices posted gains in Asian trade on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the ...

Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an ...

Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 66 cents, ...

Brent oil fell on Tuesday as concern about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day’s gains, outweighing supply curbs. ...

Oil rally to $100 not ruled out by OPEC sources So far in 2023 Brent is up slightly at just over $86 China demand rebound, lack of sizeable supply growth key drivers Some ...

Oil prices fell on Tuesday as the prospect of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. March Brent crude futures fell by $1.01, ...

Oil prices rose for a second session on Friday, buoyed by stronger than expected US economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese ...

With demand up and supplies lower, oil prices are expected to rise If 2022 was a difficult year for energy, 2023 is expected to be even harder as the Russia-Ukraine war continues ...

The energy market was turned on its head; 2023 could bring further turmoil By Charles Ellinas What a year it was. 2022 was seismic in terms of global energy. Everything was turned ...

OPEC+ agreed to stick to its oil output targets at a meeting on Sunday as the oil markets struggle to assess the impact of a slowing Chinese economy on demand ...

OPEC+ member states lined up on Sunday to endorse a steep production cut agreed this month after the White House, stepping up a war of words with Riyadh, claimed Saudi ...

Saudi Arabia rejected as “not based on facts” criticism of an OPEC+ decision last week to cut its oil production target despite U.S. objections, and said on Thursday that ...

The Democratic chairman of the U.S. Senate Foreign Relations Committee called for a freeze on cooperation with Saudi Arabia, including most arms sales, accusing the kingdom of helping underwrite ...

United Arab Emirates President Sheikh Mohammed bin Zayed al-Nahyan will travel to Russia on Tuesday to meet with President Vladimir Putin, UAE state news agency WAM reported on Monday. UAE’...

The oil market is not focusing on the fact that global spare capacity to raise oil production is very low, Saudi Aramco’s Chief Executive said on Tuesday, with Shell’...