Russia’s energy minister Alexander Novak believes OPEC, Russia and their allies within the production cut alliance should ink an agreement on the group’s broader cooperation in December so that the Continue Reading
Russian Energy Minister Alexander Novak said on Tuesday that the OPEC+ oil group may sign a new long-term cooperation deal at the beginning of December, the TASS news agency reported. Continue Reading
An OPEC and non-OPEC technical committee will later this month discuss proposals for sharing out an oil-output increase, sources familiar with the matter said, a tense topic for the producer Continue Reading
A joint panel of OPEC and non-OPEC representatives will discuss next Tuesday how the group could distribute among them the 1 million bpd production increase that was agreed in June Continue Reading
As OPEC has been easing the production cuts, the cartel’s crude oil production hit a 10-month high in August, as Iraq including Kurdistan pumped at record levels and Libya recovered Continue Reading
OPEC’s crude oil production in August, not including newest member Congo, rose to a 10-month high, with Iraq surging to record output and Libya recovering from militia fighting, more than Continue Reading
OPEC Secretary-General Mohammad Barkindo said on Wednesday that world oil consumption would hit 100 million barrels per day later this year, “much sooner” than earlier projected. OPEC Secretary-General Mohammad Barkindo Continue Reading
The escalating trade spat between China and the United States has started to worry Middle Eastern oil producers, who expect the dispute to hurt China’s oil imports alongside a rising Continue Reading
OPEC’s oil production for the month of March was 220,000 barrels per day higher than July volumes, a Reuters survey showed on Friday. Oil prices bristled at the news, and Continue Reading
OPEC oil output has risen this month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record, a Reuters survey found, although a cut in Continue Reading
