OPEC Data Shows Oil-Cut Laggards Still Exceeding Limits
Key OPEC+ nations Iraq, Kazakhstan and Russia continue to pump above output limits intended to shore up global oil prices, the group’s data showed.
OPEC Crude Production Steady for Third Month
OPEC’s crude production remained steady for a third month, while some key members continued to pump above agreed limits.
July 1, 2024Senate Probes Possibility of Collusion Between Big Oil, OPEC
A Senate panel is investigating whether oil producers are illegally coordinating with OPEC to raise prices, following allegations that the former head of Pioneer colluded with the cartel.
June 28, 2024OPEC Still Sees Strengthening Oil Demand
OPEC maintained forecasts for strengthening oil demand in the second half of the year, as the group and its allies prepare to revive some halted supplies.
OPEC+ Extends Supply Cuts Amid Slack Prices
FRANKFURT, Germany — Saudi Arabia and allied oil producing countries on June 2 extended output cuts through next year, a move aimed at supporting slack prices.
OPEC+ Works on Output Cut Accord That May Stretch Into 2025
OPEC+ is pressing on with informal talks aimed at finalizing an agreement on oil output cuts this weekend, officials said.
May 30, 2024OPEC+ Expected to Extend Supply Cuts
OPEC+ will hold next month’s policy meeting online rather than in person, while several delegates said they expected the group to extend its current supply cuts into the second half of the year.
May 24, 2024OPEC Says Oil Needs Monitoring Amid Summer Demand
Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.
OPEC+ Sticks With Supply Cuts While Oil Nears $90 a Barrel
OPEC+ chose to stick with oil supply cuts for the first half of the year, keeping global markets tight and potentially sending prices higher.
April 3, 2024OPEC+ Extends Oil Cuts Through June
OPEC+ extended its oil supply cutbacks to the middle of the year in a bid to avert a global surplus and shore up prices.
March 3, 2024