Browsing: OPEC

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.

LONDON: The Organization of the Petroleum Exporting Countries on Thursday predicted robust fuel use in the summer months and stuck to its forecast for relatively strong growth in global oil demand in 2024, while saying there was a chance the world economy could do better than expected this year, according to Reuters.

The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month

Russia has decided to focus on reducing oil output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ member countries, Deputy Prime Minister Alexander Novak said on Friday.

RIYADH: Calls for completely abandoning oil and fully relying on renewable energy have been deemed “wrong” and “unrealistic” by Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries.

The project will provide funds to businesses to recover and increase resilience in the food sector to withstand future shocks, including natural disasters and climate change.

Oil demand will continue to increase and crude will maintain its status as a main energy resource for long decades

TEHRAN (Tasnim) – Iran’s Oil Minister Javad Owji held talks with Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais on the sidelines of the 7th meeting of heads of the Gas Exporting Countries Forum (GECF) in Algeria.

MOSCOW, March 3. /TASS/. Several OPEC+ countries, including Russia and Saudi Arabia, have announced the extension of additional voluntary oil production cuts for the second quarter of 2024.

CAIRO: The International Monetary Fund said on Sunday that larger declines in oil prices or extended OPEC+ cuts could weigh on Iraq’s fiscal and external accounts.