The Latest Breaking News from OPEC

The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.

OPEC+ will hold its meeting on Oct. 5 in person in Vienna, an OPEC source told Reuters on Saturday. A virtual option will also be available for some delegations due to the short notice if they are unable to. OPEC+, which combines OPEC countries with allies such as Russia, is…

Riyadh (AFP) - Ten prisoners of war from countries including the United States and Britain have been transferred to Saudi Arabia as part of an exchange between Russia and Ukraine, the Gulf state said Wednesday.

China is increasing its reliance on oil from the Middle East, with imports from the region growing in Q1 2022. That has accelerated the need for reliable sour crude futures contracts.

Peter McGahan, chief executive of Truro-based independent financial adviser Worldwide Financial Planning asses the potential costs of Prime Minister Liz Truss' policies

A U.S. State Department official put pressure on Venezuela leader Nicolas Maduro in a congressional hearing on Thursday, threatening more sanctions if talks with the opposition on resolving the country's long-running political and economic crisis are not renewed.

The G7 imposing price cap on Russian oil could raise energy prices in winter. Moreover, the Biden administration is considering refilling its strategic reserves to support prices. And considering OPEC’s upbeat demand outlook, the energy stocks Cenovus Energy (CVE), Birchcliff Energy (BIREF), Amplify Energy (AMPY), and MV Oil (MVO) which…

Australian petrol prices have plunged to an eight-month low over the past week, delivering much needed cost of living relief to motorists.

Gasoline prices are anticipated to continue their decline, energy analysts said.