#OPEC

Oil rig - OPEC

Oil steadies as traders look to China, OPEC for fresh triggers

West Texas Intermediate was little changed above $80 a barrel after declining by almost 2 per cent on Tuesday

OPEC Fund approves over $500m in new global development support

OPEC Fund approves over $500m in new global development support

The 15 new projects approved reflect OPEC Fund’s launch of a $1bn food security action plan and the adoption of its first dedicated climate action plan earlier this year

OPEC Fund approves over $500m in new global development support

OPEC: UAE economy experiencing sustained momentum in 2022

According to the OPEC monthly oil market report for December, recent economic indicators suggest strong growth has been maintained in most activities

OPEC+ pauses as volatility, China Covid rules roil crude markets

The decision by the Organization of Petroleum Exporting Countries and its allies should hold for at least a few months

Oil steadies after wild ride with Chinese demand, OPEC+ in focus

Oil prices have weakened this month on concerns about demand

Kuwait

Kuwait posts smaller deficit for last fiscal year on higher oil

The OPEC member recorded the highest non-oil revenue in seven years, up 38.5 per cent to KD2.4bn

OPEC cuts oil demand outlook as it starts to curb production

OPEC expects that it will need to pump an average of 28.92 million barrels a day of crude to satisfy demand during the fourth quarter

OPEC+ cuts that steadied market now bring risk of $100 crude

OPEC+ cuts that steadied market now bring risk of $100 crude

Brent rose to a two-month high of $99.56 a barrel on Monday, before paring gains

OPEC+

OPEC says supply surplus was main reason for oil production cut

On October 5, the Organization of Petroleum Exporting Countries and its partners announced they would lower their output targets from November

OPEC+ says growing risk of global recession justifies oil cuts

OPEC+ says growing risk of global recession justifies oil cuts

The group agreed on October 5 to reduce its collective crude-output target by 2 million barrels

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

Oil holds gain as investors assess supply, possible OPEC+ cut

The Organization of Petroleum Exporting Countries and its allies convene on September 5

OPEC sees global oil market tipping into surplus this quarter

OPEC cut forecasts for the amount of crude it will need to pump in the third quarter by 1.24 million barrels a day to 28.27 million a day

Oil edges lower as market tightness eases, pipeline restarts

Oil edges lower as market tightness eases, pipeline restarts

West Texas Intermediate declined toward $91 a barrel in early Asian trading

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

West Texas Intermediate held above $90 after edging higher on August 9

OPEC+meeting

OPEC+ agrees to increase 100,000 barrels a day for September oil production

For July and August, the group had pledged to add more than 600,000 barrels a day to the market

Oil declines as OPEC+ decision on production takes center stage

Oil declines as OPEC+ decision on production takes center stage

Ahead of the OPEC+ session, the American Petroleum Institute reported that US crude stockpiles expanded by more than 2 million barrels

OPEC Haitham Al Ghais

Haitham Al Ghais takes office as OPEC Secretary General

He was appointed for a three-year term at the special meeting of the OPEC Conference held on January 3

Oil August 1

Oil drops at start of week as China data raises demand concerns

West Texas Intermediate dropped toward $98 a barrel after sinking almost 7 per cent in July

Oil

Oil price drops as surging inflation escalates slowdown concerns

Demand for motor fuel plunged last week to the lowest seasonal level since 1996

Oil losses

Oil extends losses after tumbling below $100 on demand concerns

West Texas Intermediate futures fell for a third session to its lowest level in three months

OPEC secretary general, Mohammad Barkindo, passes away

He assumed the position of secretary general in August 2016

Oil

Oil set for first monthly decline this year before OPEC+ meeting

Oil is still up around 45 per cent this year as the global economic recovery coincided with upended trade flows

oil supply

IEA sees world oil supply struggling to meet demand in 2023

Crude has climbed more than 50 per cent this year

US inflation

Oil extends losses as investors weigh US inflation, China demand

US inflation accelerated to a fresh 40-year high last month, raising the likelihood of more aggressive interest-rate hikes from the Federal Reserve

OPEC+

OPEC+ agrees on 648,000 bpd hike in July, August

The next meeting will be held on June 30, 2022

OPEC

OPEC+ sticks to small supply hike as EU eyes Russia oil ban

OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June

OPEC says it’s stabilised oil market

The Organization of Petroleum Exporting Countries and its partners have resisted calls to raise output faster

OPEC+ still sees no need to change plan despite Ukraine crisis

Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month