The Latest Breaking News from OPEC

Monday briefing: Can curbing Russian oil profits help end the war on Ukraine?

In today’s newsletter: A plan to cap the price of Russian crude oil could slow down the war – if only Europe and others could find a consensus

The Guardian - UK · Dec 5, 2022

Oil prices rise again after G7 group agreement targets Russia

Only Russian oil bought for less than $60 (£49) a barrel will be allowed to be shipped using G7 and EU tankers

Wales Online · Dec 5, 2022

Petrol and diesel prices likely to rise once again after recent major announcement

While fuel prices have dropped significantly since the record highs Britons had to pay over the summer, they still remain quite high.

Chronicle Live · Dec 4, 2022

Iraq: OPEC Members Committed to Agreed Production Rates

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.

Asharq Al-Awsat · Dec 4, 2022

OPEC+ agrees to maintain current output levels amid uncertainty

The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. Follow our blog to see how the…

France 24 · Dec 4, 2022

UK national highways workers to strike; US jobs growth beats forecasts – business live

Union members working on England’s roads have announced 12 days of strike action over Christmas and the new year, while US added 263,000 jobs in November

The Guardian - UK · Dec 2, 2022

ASX falls as share rally fades, economists bake in RBA interest rate rise on Tuesday

The ASX extends losses into the close, as investors take stock following yesterday's Jerome Powell-inspired share market surge and ahead of next week's Reserve Bank meeting.

ABC News · Dec 1, 2022

Saudi Arabia to host China-Arab summit during Xi visit, sources say

Saudi Arabia plans to host a Chinese-Arab summit on Dec. 9 attended by Chinese President Xi Jinping during his visit to the kingdom, three Arab diplomats in the region familiar with the plans said on Wednesday.

Reuters · Nov 30, 2022

Oil surges as speculation Opec+ will cut production intensifies

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.

Bangkok Post · Nov 29, 2022

The week that could unravel the global oil market

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

Financial Times · Nov 28, 2022