OPEC+ ministers set to meet July 5 to resolve impasse Saudi and UAE disagree over extension of current pact Iraq is OPEC’s second biggest producer Iraq supports the proposal to Continue Reading
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+ 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
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+ 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 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 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
The OPEC+ alliance fell into bitter infighting after a key member blocked a deal at the last minute, casting doubt on the group’s ability to reach an agreement to ease Continue Reading
Highlights Saudi Arabia seeking flexibility if Iran nuclear deal reached OPEC meeting in progress, Russia and other allies to join later Ministers also considering extending supply pact to end-2022 OPEC Continue Reading
An OPEC+ deal to release more oil to the market and extend its supply management policy to the end of 2022 hinges on agreement from the United Arab Emirates (UAE), Continue Reading
