Opec
-
OPEC+ Deal Sole Way for Global Energy Security: Iran’s Oil Minister
The Iranian oil minister described the agreement made by the OPEC+ members and cooperation among major oil producers as the only option for ensuring the world’s energy security in the short and…
-
OPEC+ Extends Deep Oil Production Cuts into 2025
OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival US production.
-
Iran becomes 2nd producer of liquid fuel in OPEC
Overtaking Iraq, Iran has become the second producer of liquid fuel in the Organization of Petroleum Exporting Countries (OPEC).
-
Iran’s oil price, output surge in March 2024: OPEC
The Organization of Petroleum Exporting Countries (OPEC) in its latest monthly report has said that Iran’s oil production volume increased by 28,000 barrels per day (bpd) in March 2024.
-
For Q2;
OPEC+ nations extend voluntary oil output cuts by 2.2 mn bpd
Several countries participating in the OPEC+ agreement will continue voluntarily reducing oil production in Q2 by a total of almost 2.2 mln barrels per day.
-
OPEC+ extends oil output cuts to 2024 2nd quarter
The Organization of the Petroleum Exporting Countries (OPEC), along with 10 other nations together known as OPEC Plus agreed on Sunday to extend output cuts of 2.2 million barrels per day into…
-
Iran’s Oil Minister, OPEC Chief Discuss Recent Developments in Global Oil Market
Iran’s Oil Minister Javad Owji held talks with Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais on the sidelines of the 7th meeting of heads of the…
-
Iran’s Crude Oil Production Exceeds 3 Million bpd in November: OPEC
According to the latest report released by the secretariat of the Organization of Petroleum Exporting Countries (OPEC), Iran’s crude production volume in November 2023 reached 3.128 million barrels…
-
OPEC+ agrees to deepen voluntary oil output cuts
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
-
Iran’s Oil Output Tops 3 Million bpd in October: OPEC
Iran’s crude oil production volume in October 2023 reached 3.115 million barrels per day (bpd), showing a 46,000-barrel hike compared to a month earlier.
-
Tehran Seeks Enhanced Collaboration With OPEC
EghtesadOnline: Iranian President Ebrahim Raisi described constructive interaction among the member states of the Organization of the Petroleum Exporting Countries as a crucial factor in the…
-
Oil Heading for Biggest Weekly Fall in Months
EghtesadOnline: Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet…
-
OPEC+ Compliance With Oil Output Cuts Jumps to 103%
EghtesadOnline: The OPEC+ group of producers’ compliance with the oil output cuts in January hit 103%, higher than the estimated compliance in December.
-
African Members’ Production Troubles Offset OPEC’s Planned Increase
EghtesadOnline: OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations.
-
OPEC+ Output Cut Ease Unlikely to Unbalance Int’l Oil Markets
EghtesadOnline: The OPEC+ decision Dec. 3 to ease its output cut by an initial 500,000 bpd in January is unlikely to unbalance oil markets amid hopes for oil demand recovery from the early introductio…
-
Goldman Voices Concern About OPEC+ Future
EghtesadOnline: As the OPEC+ group’s decision on oil production cuts nears, there are renewed concerns about the future of the organization as it tries to rebalance the market while securing…
-
OPEC+ Panel Sees Weaker Oil Demand in 2021
EghtesadOnline: OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the…
-
Oil Climbs Higher on China, Japan Rebound
EghtesadOnline: Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns over weaker fuel demand due to…
-
OPEC Would Wary of Strains Under Biden
EghtesadOnline: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US president, sources close to the organization said, and would miss the outgoing…
-
OPEC’s Barkindo: Rising Infections May Delay Oil Market Recovery
EghtesadOnline: OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course”…
-
Worried About Declining Oil Demand, OPEC Pledges Action
EghtesadOnline: OPEC and allied producers have pledged action to support the oil market as concerns mounted that a second wave of the Covid-19 pandemic will hobble demand and an earlier plan…
-
OPEC: Oil Demand to Plateau in Late 2030s
EghtesadOnline: World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting…
-
Crude Oil Prices Higher Following OPEC+ Meeting
EghtesadOnline: Crude oil future prices ticked higher during the mid-morning trade in Asia Friday, as the markets continued to price in a commitment from the OPEC to ensure that the members adhere…
-
Faltering Crude Demand Puts Pressure on OPEC+ Production Agreements
EghtesadOnline: It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the organization’s six decades as a dominant force in global oil markets.
-
UAE Fails to Comply With Output Cuts
EghtesadOnline: The United Arab Emirates, currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+…
-
Iraq Wants Exemption From OPEC+ Cuts in Q1 2021
EghtesadOnline: Iraq is seeking exemptions from OPEC+ cuts in Q1 of 2021 and has discussed the issue with key producers in the 23-member coalition during three consecutive meetings, state-owned…
-
OPEC+ to Balance Market Share Gains
EghtesadOnline: OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.
-
Brent, WTI Fall on Supply Glut Fears
EghtesadOnline: Oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide Covid-19 cases points to a slower pick-up in…
-
OPEC+ to Pump More Crude
EghtesadOnline: From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus.
-
Oil Prices Gain With OPEC+ Holding the Line on Supply Cuts
EghtesadOnline: Oil prices rose more than 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil…