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    Opec News

    What is OPEC, OPEC+ and why the UAE no longer want to be a part of it

    The UAE announced on Tuesday it will exit OPEC and OPEC+ effective May 1, 2026.
    World News
    Published 130 days ago

    UAE leaves oil production groups OPEC, OPEC+: Here's what you need to know

    The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels on May 1, 2026 state media said on April 28, 2026, calling it a strategic decision by the major producer.
    World News
    Updated 129 days ago

    OPEC+ group to keep production unchanged even after sanctions on Russian oil

    An OPEC sign seen on the day of OPEC+ meeting that was scheduled to take place in Vienna.
    Business
    Published 1371 days ago

    Aramaco, Saudi oil giant, records $42.4B profit in third quarter

    It put its profits so far in 2022 at $130.3 billion, compared to $77.6 billion in 2021
    Business
    Published 1404 days ago

    ‘Working to support stability and balance in oil markets’: Saudi King Salman

    The United States, unhappy with oil-cuts, said that it would "increase Russian revenues.
    World News
    Published 1419 days ago

    Oil prices shoot above $95 per barrel ahead of OPEC+ meet

    Representational image
    Business
    Published 1495 days ago

    US offers 18 million barrels of oil from its emergency reserves to cool prices

    The announcement of the sale was expected, after the Biden administration announced it as part of a wider 50 million barrel release from the reserve in coordination with other oil-consuming countries including China, India and South Korea
    World News
    Updated 1722 days ago

    India, others tap reserves to hit at Opec+

    India has agreed to release 5 million barrels of crude oil from its reserves. 
    Business
    Updated 1747 days ago

    US, China, Japan, India, South Korea crude release may draw OPEC ire

    Three of the world’s largest oil consumers will release crude from its Strategic Petroleum Reserve. 
    Business
    Published 1747 days ago

    India, US to release 5mn barrels of oil reserves to challenge OPEC grip: Report

    The release may come within a week, and India and other countries may look at selling more crude later
    Business
    Updated 1747 days ago

    Will the OPEC deal bring petrol, diesel prices down?

    OPEC is a cartel of 13 countries which produce 29% of the total crude oil in the world.
    India News
    Updated 1872 days ago

    OPEC+ ups output but fuel prices to stay high in India

    The move by OPEC+ is more to save the producers’ cartel, which appears to be a compromise reached between the two factions – the one that wanted to continue the squeeze for raising oil prices further and the other that pushed for raising output
    India News
    Updated 1873 days ago

    OPEC+ to meet today: What it means for crude oil price?

    The Organization of Petroleum Exporting Countries and its partners are already working to restart crude shipments that were suspended last year during the pandemic's early phases.
    Business
    Updated 1892 days ago

    Oil rises on signs of US inventory drawdown, OPEC bullishness

    Imperial Oil refinery, located near Enbridge's Line 5 pipeline in Sarnia, Ontario, Canada March 20, 2021.
    Business
    Published 1970 days ago

    India says ‘we expect more’ as OPEC+ agrees to ease oil output cuts slightly

    The OPEC oil cartel and allied countries said Thursday, April 1, 2021 that they have decided to add gradually back some 2 million barrels per barrel per day of oil production from May to July.
    Business
    Published 1982 days ago

    OPEC+ agrees oil output rise from May, after US call to Saudi

    Brent crude, which slipped on news of the deal, was still trading above $63 a barrel, still more than 20% up on the start of the year.
    Business
    Published 1983 days ago

    Oil falls on OPEC+ concerns over slow demand recovery

    Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the US Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura.
    Business
    Published 1984 days ago

    Oil rises with market eyeing OPEC+ meeting, Suez Canal reopening

    Traders were also tracking the introduction on Monday of a new futures contract, with Abu Dhabi kicking off its bid to establish a new benchmark.
    Business
    Published 1986 days ago

    'Busy on other fronts': White House without Trump stays quiet on OPEC

    For now, OPEC+ delegates expect there will be no output increase or only a modest one agreed on April 1.
    World News
    Published 1992 days ago

    Brent crude floats near $70 on demand recovery anticipation

    Investors are expecting China to release positive economic data on Monday, supporting forecasts of stronger growth at the world's second largest oil consumer.
    Business
    Published 2000 days ago

    Oil advances above $66 as week opens with recovery in focus

    A crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, US.
    Business
    Published 2000 days ago

    Oil slips in fragile rally as market struggles for direction

    FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant/File Photo
    Business
    Published 2003 days ago

    Petrol, diesel prices likely to inch higher as Brent hits $70

    Lower oil prices in the past year had helped the government collect higher taxes on fuel amid a slump in tax revenues.
    Business
    Published 2006 days ago

    OPEC ignores India's call; Saudi asks New Delhi to use cheap oil bought last yr

    FILE - In this Wednesday, April 8, 2020, file photo, the sun sets behind an idle pump jack near Karnes City, USA. Members of oil producer cartel OPEC and allied countries are meeting online Thursday March 4, 2021, considering a possible increase in production now that prices have recovered to near their pre-pandemic levels. (AP Photo/Eric Gay, File)
    Business
    Published 2010 days ago

    OPEC+ to extend most oil cuts into April, Saudi to keep voluntary cut

    People stand outside the headquarters of the Organization of the Petroleum Exporting Countries, OPEC, in Vienna.
    Business
    Published 2011 days ago

    OPEC+ debates whether to raise or freeze oil output as price recovers

    Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.
    Business
    Published 2011 days ago

    OPEC+ silence has oil market second-guessing next supply move

    While OPEC+ is still widely expected to revive some of the 7 million barrels a day they’ve idled, a preliminary meeting of ministers earlier in the day didn’t get into specifics.
    Business
    Published 2011 days ago

    OPEC oil has advantage over US shale during pandemic recovery

    FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo
    Business
    Published 2012 days ago

    OPEC+ faces calls to cool oil market frenzy with extra barrels

    Global inventories are plunging at the steepest rate in two decades, according to Morgan Stanley.
    World News
    Published 2015 days ago

    Iraq decides against crude-supply deal with Chinese state company

    OPEC’s second-biggest producer had wanted as much liquidity as possible in January and February this year
    Business
    Published 2021 days ago
    Home / Topic / Opec  / News
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