Saudi Arabia, Russia deepen oil cuts sending prices higher
July 3, 2023 Saudi Arabia and Russia, the world’s biggest oil exporters, deepened oil cuts on Monday, sending prices higher despite concerns over a global economic slowdown and possible further…
Oil up $1 on Saudi plan to deepen output cuts from July
June 5, 2023 Oil prices were up $1 a barrel on Monday after top global exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from…
OPEC+ begins meetings which may lead to further output cuts
June 3, 2023 OPEC and its allies begin two days of meetings on Saturday which may culminate in further production cuts of as much as 1 million barrels per day,…
OPEC+ unlikely to deepen oil supply cuts at June 4 meeting – Sources
June 1, 2023 OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four…
Economic fears to cap oil prices below $90 through 2023
May 31, 2023 Oil prices will creep up from current levels as major producer group OPEC+ maintains restrictions on supplies, but economic headwinds will keep them below $90 a barrel…
OPEC+ producers send conflicting messages ahead of June policy meeting
May 25, 2023 Top OPEC producers and their main allies have given a raft of conflicting messages about next oil policy moves, making it particularly difficult to predict the outcome…
Nigeria says no need for extra OPEC+ supplies amid Iran talks
Feb. 23, 2022 There is no need for OPEC+ to expand its oil production increases, Nigeria’s petroleum minister said on Tuesday, even as oil nears $100 a barrel, as a…
Despite price surge OPEC+ panel recommends sticking to oil output plan – SourcesÂ
Oct. 4, 2021 OPEC+ ministerial panel has recommended that the oil producing group stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November,…
As OPEC reopens the taps, Nigeria, Angola losing race to pump more, struggling to raise output
Sept. 27, 2021 Top African oil exporters, Nigeria and Angola will struggle to boost output to their OPEC quota levels until at least next year as underinvestment and nagging maintenance…
Oil Falls 5% After OPEC+ Producers Agree to Raise Output
July 19, 2021 Oil prices fell over $3 in their largest daily decline since late March on Monday after OPEC+ overcame internal divisions and agreed to boost output, causing concern…