After months of preaching caution and saying the time was not right to raise oil production, OPEC and its partners abruptly agreed April 1 to loosen their quotas and add Continue Reading
The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how Continue Reading
Oil prices gave up earlier gains and turned lower as of 11:39 a.m. EDT on Thursday, after reports emerged that Saudi Arabia was offering to gradually ease its additional unilateral Continue Reading
The Opec+ oil alliance decided on Thursday to increase output gradually from May as pressure mounts from inside and outside the producers group to release more barrels on to the Continue Reading
OPEC’s crude production rose last month as rebounding supplies from Iran and Libya complicated the group’s efforts to keep global markets in balance. The Organization of Petroleum Exporting Countries boosted output Continue Reading
OPEC+ expressed growing confidence in the global economic recovery by agreeing to increase oil production gradually in the coming months.Before Thursday’s meeting, the cartel had been widely expected to maintain Continue Reading
Saudi Aramco’s profits fell by nearly 50% in 2020 as the pandemic battered oil markets and an oil price war between Russia and Saudi Arabia sent oil prices to record Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) EDITOR’S NOTE: In recent weeks, multiple different versions of Continue Reading
World powers will hold a virtual meeting with Iran on Friday to discuss “the prospect of a possible return of the United States” to the Iran nuclear deal, the European Continue Reading
Factories around the world are struggling to keep up with soaring demand for all types of goods as the global economic recovery from the pandemic accelerates. In the U.S., factory production Continue Reading
