The Latest Breaking News from OPEC

The reduction in oil production targets more spare capacity in case of any global emergency, OPEC's Secretary-General Haitham al-Ghais has announced. The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) and 11 of its allies led by Russia, known as OPEC+, agreed on Wednesday to lower their…

Smuggling in the Ugandan border region of West Nile has a long and chequered history. It straddles the fine line between legitimacy and legality. Governance and conflict researcher Kristof Titeca has studied smuggling in the border region since 2003. He explains the dynamics.

Leading oil & gas company Marathon Petroleum (MPC) reported solid second-quarter financials. Moreover, analysts seem bullish about the company’s growth prospects, considering its strategic business advancements and sustained energy demand. And given MPC’s high profitability and high-yield dividend, this energy stock that hedge funds keep buying could be worth your…

We take a closer look at the petrol shortage hitting certain French service stations. We also hear about the options that US President Joe Biden is mulling in regard to OPEC+'s decision to cut oil supply. Plus, a small French town grapples with rising energy bills. Finally, the hamburger chain…

Oil prices have stabilized near the highest level in three months, after OPEC+ key ministers agreed oil production cuts of 2 million barrels per day. This is the highest oil cut since 2020. Saudi Energy Minister Abdulaziz bin Salman said OPEC+ had needed to be pro-active as central banks around…

Former Treasury Secretary Lawrence H.

As the ‘No Oil Producing and Exporting Cartels’ (NOPEC) bill gained momentum among both parties, Senate Majority Leader Chuck Schumer (D-NY) said in his tweet that Saudi Arabia’s actions will long be remembered by Americans.

WASHINGTON — Legislation that would allow the U.S. to sue OPEC nations is being considered as a possible response to the oil cartel’s production cut this week that benefited Russian President Vladimir Putin, said Senate Majority Leader Chuck Schumer on Thursday.

Riyadh defends decision to curb oil output, saying move aims to stabilise the oil market, not drive up prices.