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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.

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