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    Opec moves towards output cap extension as meeting commences

    01 Jul 2019

    Opec and its oil-producing allies shifted on Monday towards extending their daily output caps, sending oil prices racing higher before the outcome of the group’s official gathering.

    Opec cuts oil demand outlook, building case to keep supply curbs

    13 Jun 2019

    Opec has cut its forecast for growth in global oil demand due to trade disputes and pointed to the risk of a further reduction, building a case for prolonged supply restraint in the rest of 2019.

    Opec sees more demand as it cuts output

    14 May 2019

    Opec said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output. But the Organization of the Petroleum Exporting Countries,

    Russia Saudi agree to extend OPEC production cut deal Putin

    29 Jun 2019

    Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said on Saturday. “We will extend this deal, Russia and Saudi Arabia. For how long?

    Opec keeps cuts till December, stresses for more commitment

    12 Sep 2019

    Opec and its allies agreed on Thursday to keep current production cuts until further review in December, with the Kingdom of Saudi Arabia pledging to further strengthen its voluntary production adjustment to 9.890 million bpd in October.

    ‘New Saudi energy minister will boost kingdom’s role in Opec’

    10 Sep 2019

    The United Arab Emirates Energy Minister Suhail Mohamed Al Mazrouei congratulated the new Saudi Arabian Rnergy Minister, Prince Abdulaziz Bin Salman, in a tweet.

    OFID offers $13m to support hydro-electric plant in Nepal

    05 Nov 2019

    The Opec Fund for International Development (OFID) has contributed more than $13 million to a $453 million financing package that will support the construction of a landmark hydroelectric plant in central Nepal.

    Opec backs biggest oil cut since 2008 crisis, awaits Russia’s nod

    05 Mar 2020

    Opec agreed on Thursday to cut oil output by an extra 1.5 million barrels per day (bpd) in the second quarter of 2020 to support prices that have been hit by the coronavirus outbreak, but made its action conditional on Russia and others joining in.

    Oil rises as Opec, allies work on big output cut

    04 Mar 2020

    Brent oil prices rose on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting

    Oil, stocks recover on stimulus hopes, Russia signals Opec talks

    10 Mar 2020

    Oil prices jumped by around 8% on Tuesday a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with Opec remained possible.

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