OPEC+ receives updated output compensation plans from 8 members
The Organisation of the Petroleum Exporting Countries (OPEC+) has received revised oil output compensation plans…
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Organisation of the Petroleum Exporting Countries (OPEC)
OPEC cuts ’24 global oil demand forecast
The Organisation of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth in…
Oil prices fall as China stimulus disappoints
Oil prices edged lower on Tuesday as investor sentiment was dampened by concerns over China's latest economic…
EIA predicts continued OPEC+ oil production cuts through ’28
The US Energy Information Administration (EIA) has forecast that the Organisation of the Petroleum Exporting…
Saudi Aramco profit falls 3.4% in Q2 ’24
Saudi Arabia's state oil producer Aramco reported a 3.4 per cent decline in second-quarter net income on Tuesday.
China’s May commodity imports show mixed picture
China's imports of key commodities in May were mixed, with some sectors weak and others showing signs of strength.
OPEC head sees share of Indian oil imports to grow again
The Organisation of the Petroleum Exporting Countries (OPEC) is poised to win a bigger share of India's oil imports…
S. Arabia’s overall merchandise exports fall by 15.6% in Nov.
Saudi Arabia's overall merchandise exports declined by 15.6 per cent in November 2023 to 95 billion Saudi riyals,…
OPEC expects global oil demand at 1.8 mb/d in 2025
The global oil demand growth is expected to see a robust increase of 1.8 million barrels a day (mb/d) in 2025,…
Angola is leaving OPEC over output cut disagreement
Angola is leaving the Organization of the Petroleum Exporting Countries (OPEC) as membership is not serving its…
OPEC+ panel keeps oil output policy unchanged
The OPEC+ ministerial panel met on Friday and decided to keep its current oil production policies unchanged.
Kuwait to issue new port tender next week
Kuwait, the OPEC producer, is set to issue a new port tender next Tuesday and has invited companies for a meeting…
Iraq finishes two thirds of Grand Faw Port
Iraq, the OPEC member, has completed around two thirds of the Grand Faw Port project, said Iraq’s Transport…
Kuwait to issue tenders for Mubarak Port
Kuwait is getting ready to issue new tenders for the completion of Mubarak Al-Kabeer Port, a Kuwaiti newspaper…
UAE: OPEC+ taking adequate measures for oil market stability
United Arab Emirates Energy Minister Suhail al-Mazrouei said on Saturday that the OPEC+ is taking adequate measures…
India’s Russian oil imports at record high in January
India's Russian oil imports jumped to record 1.4 million barrels per day (bpd) in January, up 9.2 percent from…
OPEC fund grants $50m to AFC to develop infrastructure
The OPEC Fund for International Development and Africa Finance Corp. (AFC) signed on Thursday a 10-year $50 million…
Brent falls 2% as traders expect output rise after OPEC deal
Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output…
Egypt supports OPEC efforts to enhance cooperation among members: minister
Petroleum Minister Tarek el-Molla asserted Egypt's support to efforts of the OPEC to enhance joint cooperation…
Oil slips on prospect of rising supplies
Oil fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary…