In a strategic move aimed at stabilizing the global oil market, Russia, Kazakhstan, and Iraq have committed to a phased reduction in oil production totaling 2.284 million barrels per day…
OPEC
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The Organization of the Petroleum Exporting Countries (OPEC) Secretariat announced on Wednesday that it has received compensation plans from Iraq, Kazakhstan, and Russia for exceeding their oil production quotas in…
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In an upcoming development for the oil market, sources familiar with the matter have indicated that an imminent mini OPEC+ ministerial meeting scheduled for next month is unlikely to propose…
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Saudi Arabia, long regarded as a linchpin in OPEC’s oil production policies, faces a pivotal juncture with its ambitious Vision 2030 initiative. Spearheaded by Crown Prince Mohammed bin Salman, this…
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In a week marked by divergent oil demand forecasts, the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) have released reports indicating differing views on…
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In its latest monthly report, OPEC has reaffirmed projections for robust global oil demand growth, anticipating an increase of 2.2 million barrels per day for the current year. The organization…
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Russian energy behemoth Gazprom and the Iranian National Gas Company (NIGC) inked a landmark memorandum of understanding (MoU), heralded by Iran’s Petroleum Minister, Javad Owji, as a transformative event for…
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OPEC’s oil production saw a second consecutive monthly increase. The organization, which includes major oil-producing nations like Saudi Arabia, pumped an average of 26.70 million barrels per day (bpd), marking…
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OPEC and the OPEC+ alliance recently celebrated as Brent oil prices surged above $87 per barrel, driven by strong demand signals and supply concerns during the hurricane season. However, the…
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Oil markets held steady as attention turned to forthcoming reports from OPEC, the IEA, and the US EIA, which are expected to provide crucial insights into global crude balances. Brent…