OPEC+ agrees new oil deal but without UAE agreement, source says
OPEC+ agreed on Friday to add more oil to the market from August and extend the duration of their pact on their remaining production curbs for longer, even though the Continue Reading
OPEC+ Standoff Drags On With Inflationary Price Spike at Stake
OPEC+ allies were locked in a tense diplomatic standoff on Friday amid a dispute that threatens to send oil prices sharply higher. A day after the alliance was forced to Continue Reading
OPEC’s Production Soared By 855,000 Bpd In June
As agreed in April, OPEC opened the taps in the second quarter of the year to meet a rebound in global oil demand, boosting crude production by 855,000 barrels per Continue Reading
OPEC+ Fails to Make Day 2 Deal
OPEC+ abandoned efforts to break a deadlock within the cartel for a second night, increasing the risk its failure to act will unleash an inflationary spike in oil prices. Friday’s Continue Reading
OPEC+ Fails to Reach Output Deal With Talks Kicked to Monday
OPEC and its allies abandoned oil-supply negotiations until Monday as a rebellion by a key member threatened the unity of the alliance. Talks ended without a deal to increase output Continue Reading
Opec talks end in deadlock over raising oil production
Opec and its allies failed to reach an agreement on raising oil production on Friday as talks hit a deadlock for a second day, with the UAE remaining opposed to Continue Reading
New Saudi airline plan takes aim at Emirates, Qatar Airways
Saudi Arabia plans to target international transit passenger traffic with its new national airline, going head-to-head with Gulf giants Emirates and Qatar Airways and opening up a new front in Continue Reading
Gasoline Shortages In Iran As Tanker Drivers Shun Fuel Shipments
An official of Iranian Truck and Fuel Tanker Drivers’ Union said Thursday that drivers were refusing to transport fuel due to low or late payments from the government. There has Continue Reading
U.N.-backed Libya talks fail to reach consensus on elections
U.N.-sponsored talks aimed at paving the way for elections in Libya in late December failed to find common ground, the deputy of the United Nations mission in Libya said on Continue Reading
Venezuelan Crude Exports Soar 66% Year-On-Year
Crude oil exports from Venezuela inched up last month as traders rushed to sell Venezuelan crude to Chinese buyers ahead of the entry into effect of a new tax. Reuters Continue Reading