OPEC+

World oil demand growth will slow in 2023, OPEC delegates and industry sources have said. This is expected as surging crude and fuel prices help drive up inflation and act as a drag on the global economy. Fuel use has rebounded from…

OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday. Russia's production has fallen by around 1 million barrels per day as a result of Western sanctions on Moscow over Ukraine. One OPEC+…

The OPEC Fund for International Development has expressed its support for the ongoing massive gas project embarked upon by Nigeria and Morocco. The OPEC Fund will finance $14.3 million for the second phase of the studies in the submarine…

The black liquid ended the week bearish, posting its sixth consecutive weekly loss. This comes as investors adopt a watch and hold stance as they monitor the current spread of the newest COVID-19 variant, despite the Organization of…

Brent crude futures dropped towards $82 per barrel on Friday, as oil prices came under pressure amid an inflation-driven dollar rally, downgraded demand forecast from OPEC and the threat of further US intervention in the oil markets.…

The Organisation of the Petroleum Exporting Countries (OPEC) says the delicate balance between reducing emissions, energy affordability and security requires comprehensive and sustainable policies. The OPEC said that focusing on…

Brent crude futures gained above $83.5 per barrel on Monday, as OPEC+ kept its reins on oil supply despite calls for increased output, with State-owned Saudi Aramco raising its December official selling price for Arab light crude to $2.7 a…

Brent crude futures edged up to above $82.5 a barrel on Friday, after OPEC and its allies agreed to raise output by a pre-agreed 400,000 barrels per day from December defying US pressure to help cool the market. However, the…

Brent crude futures rose towards $85 per barrel on Tuesday, amid reports that OPEC failed to reach output targets in October. OPEC’s oil output rose 190,000 barrels per day in October, falling short of the 254,00 increase…

Latest survey has shown that the Organization of Petroleum Exporting Countries (OPEC) boosted crude production in August, last month, as it continued the revival of supplies halted during the COVID-19 pandemic, but some members…