The Latest Breaking News from OPEC

OPEC’s Barkindo: Common Objective with Non-OPEC Partners is Market Stability

The common objective of the Organization of the Petroleum Exporting Countries and its non-OPEC partners has always been to maintain oil market stability, not to raise prices or bring them down, OPEC Secretary-General Mohammad Barkindo said on Saturday. Asked whether bringing 9.7 million barrels a day back to the market…

Asharq Al-Awsat · Jun 19, 2022

Stagflation: what is it and is it really happening in Australia?

Australians are feeling the pinch from rising inflation, but experts are divided on whether the 1970s economic phenomenon is back

The Guardian - AU · Jun 15, 2022

Oil prices surge higher as OPEC boss warns they are “nowhere near” the peak

Drivers braced for the £100 tank of petrol as oil price continues to rise

Evening Standard · Jun 8, 2022

Biden urges economic confidence despite inflation challenge

President Joe Biden touted the state of the U.S. economy following a better-than-expected May jobs report, even as he acknowledged its likely to be overshadowed by record-high inflation that’s causing pain for Americans.

Tribune News Service · Jun 3, 2022

Saudi Arabia, the Balance Point between Moscow, Washington in OPEC Agreement

The White House praised a major Saudi role in controlling oil markets, through a greater increase in the production of the OPEC+ alliance during July and August than previously announced. “We welcome the important decision from OPEC+ today to increase supply in July and August based on new market conditions,”…

Asharq Al-Awsat · Jun 3, 2022

Oil Price Rises Even as OPEC Boosts Output More than Expected

Oil prices rose Thursday despite an agreement by major crude producers to boost output more than expected, while US stocks rallied ahead of closely-watched employment data seen as a key input to the inflation debate. In Vienna, the OPEC+ group decided to add 648,000 barrels per day to the market…

Asharq Al-Awsat · Jun 3, 2022

Asian shares rise, China trading closed for national holiday

Asian shares have risen amid mixed signs for investors such as rising energy prices and COVID-19 restrictions easing in China

The Independent UK · Jun 3, 2022

White House praises Saudi royals on Yemen truce before expected Biden trip

The White House took the rare step of recognizing the role played by Saudi Arabia's Crown Prince Mohammed bin Salman in extending a ceasefire in Yemen on Thursday ahead of what is expected to be a trip to Riyadh by President Joe Biden.

Reuters · Jun 2, 2022

ASX closes higher on miners and tech, Australian dollar jumps, Wall Street gains on tech

The Australian share market closes higher after a strong session for miners and tech, while the Australian dollar jumps.

ABC News · Jun 2, 2022

Pledge of more oil heightens odds of Saudi trip for Biden

The Biden administration is praising Saudi Arabia for its role in a promised boost in oil production and a cease-fire in Yemen

The Independent UK · Jun 2, 2022