The Latest Breaking News from OPEC

Oil prices are down, and demand is lagging

Iraqi oil minister Hayan Abdel-Ghani stressed OPEC members are committed to the agreed production rates until the end of 2023, a ministry statement said on Saturday. Abdel-Ghani made these remarks during a ministerial meeting of the member states of the Organization of the Petroleum Exporting Countries (OPEC) via video conference.

SINGAPORE: Oil extended a rebound from the lowest level in almost a year on speculation that the Organization of Petroleum Exporting Countries (Opec) and its allies will deepen supply cuts to respond to weakening global demand.

As western countries prepare to impose a price cap on Russian crude, many of the industry’s norms are being undermined

Saudi Energy Minister Prince Abdulaziz bin Salman and his Iraqi counterpart Hayan Abdel-Ghani stressed on Thursday the importance of adhering to OPEC+ output cuts that last until the end of 2023, the Saudi energy ministry said in a statement on Friday. The two sides also pointed to, "the ability to…

Rumors of OPEC increasing output were negated by Saudi Arabia amid the embargo on Russian oil. This could translate to a tight supply this winter. Hence, quality energy stocks Marathon Petroleum (MPC) and Valero Energy (VLO), which have crushed the market this year, could be solid buys now. Read on….

Saudi Arabia on Monday said that OPEC+ was sticking with oil output cuts and could take further measures to balance the market amid falling prices, denying a report it was considering boosting output to 500,000 barrels per day, according to state news agency SPA. "It is well-known that OPEC+ does…

Qualified victory was snatched from defeat at the climate summit with a genuine and surprising agreement on loss and damage. But there’s still no plan to get to 1.5C

A proposal by Indonesia, the world’s biggest nickel producer, to create an Opec-like group of suppliers of the metal used in EV batteries has raised eyebrows among Australian miners.