The Latest Breaking News from OPEC

President Joe Biden traveled to Saudi Arabia almost three weeks ago on the possibility that he could get some additional oil production out of OPEC+

Rising tensions between US and China threaten to accelerate decoupling of world’s two biggest economies

The U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollars’ worth of Iranian oil for shipment to East Asia

Kuwait reappointed Oil Minister Mohammed Al-Fares and Finance Minister Abdul Wahab al-Rasheed in a cabinet formed on Monday under a new prime minister. Last week the crown prince of the Gulf Arab OPEC producer had named Sheikh Ahmed Nawaf al-Sabah as prime minister to replace Sheikh Sabah al-Khalid, who had…

Oil producers from the OPEC+ group meet on Wednesday to agree to the next step in their market management. For the first time in a year, there is no clear policy for them to rubber stamp. That could make for an interesting (virtual) gathering.

Kuwait’s Haitham Al-Ghais assumed on Monday his new role as Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), following the late outgoing chief, Mohammad Barkindo. Al-Ghais affirmed his determination to work for the advancement of the international organization, especially considering the concerns surrounding the global energy market. In an…

Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures were down $1.19, or 1.1%, at $102.78 a…

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman met Russian Deputy Prime Minister Alexander Novak on Friday in Riyadh, the Saudi energy ministry said on Twitter.

The U.S. President’s visit could serve his domestic interests to some extent, but it has made no difference to the region