OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June
The Organization of Petroleum Exporting Countries and its partners have resisted calls to raise output faster
Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month
OPEC+ is reviving supplies after its deep cuts at the start of the pandemic in 2020
The US Federal Reserve raised interest rates by a quarter percentage point
Oil has surged above $100 a barrel for the first time since 2014
Energy supplies are struggling to keep up with a robust economic recovery
OPEC and its partners are trying to gradually restart production halted during the pandemic
Last month, OPEC+ nations managed only two-thirds of their stipulated increase
Last month, the 10 OPEC nations in the accord managed only 60 per cent of their stipulated 250,000 barrel-a-day increase
Oil has rallied more than 10 per cent so far this year
On Tuesday OPEC+ decided to increase production in February by 400,000 barrels a day
The Organization of Petroleum Exporting Countries added just 90,000 barrels a day in December
Haitham al-Ghais – whose three-decade oil industry career includes stints in Beijing and London – will become the group’s secretary-general in August
It sees a surplus of 1.4 million barrels a day in the first three months of 2022
The 23-nation alliance is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the pandemic
While oil has soared about 45 per cent this year, it slumped more than 10 per cent on November 26, the day after Thanksgiving
A group led by BlackRock will buy a 49 per cent stake in Aramco Gas Pipelines
Oil slid for a sixth straight week due to the spread of Omicron and the prospect of more barrels coming to the market
The group meets on December 2
The Organization of Petroleum Exporting Countries and its allies will meet on December 2
Brent crude’s climbed 62 per cent this year to almost $84 a barrel
Saudi Arabia sends more than 60 per cent of its crude exports to Asia
Nationwide US crude inventories increased by 3.29 million barrels last week
The combination of a recovery in fuel consumption after the pandemic and constrained supply has led to a global energy crunch
Crude has soared this year, with production trailing supply as the global economy recovered from the impact of the pandemic
Oil is set for a monthly gain in October, building on six quarterly advances
Oil has more than doubled over the past 12 months as the global economy rebounded from the dislocation caused by the coronavirus pandemic
Qatar decided to leave the cartel in late 2018
Oman’s fiscal deficit may narrow to 4.2 per cent of gross domestic product in 2021