The Latest Breaking News from OPEC

Oil prices surge higher as OPEC boss warns they are “nowhere near” the peak

Drivers braced for the £100 tank of petrol as oil price continues to rise

Evening Standard · Jun 8, 2022

Saudi is swinging again, but for how long?

Fluctuating Chinese demand has contributed to this year’s volatility in international oil prices. But the latest evolution on the supply side will have immediate geopolitical and financial implications that go well beyond the oil market. Specifically, Saudi Arabia has returned as the most important swing producer and thus the most…

Bangkok Post · Jun 8, 2022

The Hunt For New Oil Supplies

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Benzinga · Jun 7, 2022

Oil Price Rises Even as OPEC Boosts Output More than Expected

Oil prices rose Thursday despite an agreement by major crude producers to boost output more than expected, while US stocks rallied ahead of closely-watched employment data seen as a key input to the inflation debate. In Vienna, the OPEC+ group decided to add 648,000 barrels per day to the market…

Asharq Al-Awsat · Jun 3, 2022

Asian shares rise, China trading closed for national holiday

Asian shares have risen amid mixed signs for investors such as rising energy prices and COVID-19 restrictions easing in China

The Independent UK · Jun 3, 2022

White House praises Saudi royals on Yemen truce before expected Biden trip

The White House took the rare step of recognizing the role played by Saudi Arabia's Crown Prince Mohammed bin Salman in extending a ceasefire in Yemen on Thursday ahead of what is expected to be a trip to Riyadh by President Joe Biden.

Reuters · Jun 2, 2022

ASX closes higher on miners and tech, Australian dollar jumps, Wall Street gains on tech

The Australian share market closes higher after a strong session for miners and tech, while the Australian dollar jumps.

ABC News · Jun 2, 2022

Pledge of more oil heightens odds of Saudi trip for Biden

The Biden administration is praising Saudi Arabia for its role in a promised boost in oil production and a cease-fire in Yemen

The Independent UK · Jun 2, 2022

Opec agrees to ramp up oil production, but fails to exclude Russia

Brent crude makes small rise to $116.94 as group sets extra output higher at 650,000 barrels a day

The Guardian - UK · Jun 2, 2022

OPEC+ Brings Forward Oil Output Rises

OPEC+, an alliance of the Organization of the Petroleum Exporting Countries and other producing nations, agreed on Thursday to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation. OPEC+ said it had agreed to boost output by 648,000 barrels per day (bpd)…

Asharq Al-Awsat · Jun 2, 2022