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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.

    Oil prices rise after Saudi Arabia urges caution, vigilance on market

    04 Mar 2021

    Oil prices rose more than $1 per barrel on Thursday after Saudi Energy Minister Prince Abdulaziz bin Salman urged caution and vigilance at the beginning of a meeting of Opec ministers and their allies about the future of supply cuts.

    Oil hits almost 14-month high after Opec+ extends output cuts

    05 Mar 2021

    Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after Opec and its allies agreed not to increase supply in April as they await a more substantial recovery in demand.

    Oil market rebalancing, pandemic still a risk: Opec

    02 Mar 2021

    The global oil market is rebalancing after damage to demand wrought by the COVID-19 pandemic was met with curbs on output by producers from the Organization of the Petroleum Exporting Countries (Opec), the group’s president said on Tuesday.

    Oil prices up as Opec+ meets to decide on production policy

    01 Apr 2021

    Oil prices rose on Thursday on optimism about U.S and European economic recoveries and expectations OPEC and its allies will keep production curbs in place.

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