A decision driven by Saudi Arabia that OPEC+ should stop using oil data from the West’s energy watchdog reflected concern about U.S. influence on the figures, sources close to the Continue Reading
OPEC raised its oil production by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core Continue Reading
OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to Continue Reading
OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today, Nigeria’s Petroleum Minister Timipre Sylva told Anadolu Agency on Friday. Continue Reading
Crude oil production by OPEC and its allies fell in March from February for the first time in more than a year, the latest S&P Global Commodity Insights survey found, Continue Reading
International Energy Agency member countries have agreed to release 120 million barrels of oil from storage, which includes 60 million barrels from the US, as part of its overall draw Continue Reading
The IEA’s Member Countries agreed to a new release of oil from emergency reserves due to market turmoil caused by Russia’s invasion of Ukraine. The International Energy Agency’s 31 Member Continue Reading
Follows US’ record 180-million-barrel SPR release move IEA’s initial stock release was for almost 62 million barrels Russian crude production shut-ins estimated at 2.8 million b/d The International Energy Agency Continue Reading
Oil prices fell on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release Continue Reading
The International Energy Agency has called an emergency ministerial meeting on Friday at 1200 GMT to discuss the state of the oil market, a spokesperson for Australian energy minister Angus Continue Reading
