Tag Archives: opec

U. S. Press Secretary Jen Psaki assured that the White House is continuing to press OPEC member states to address the crude oil supply issue. “I would also note that what we’re also working to address is more of a logistics issue of how we are moving supply around the …

OPEC+ sources told Reuters that it is likely that OPEC and its allies will stick to their current agreement to add 400,000 barrels per day of oil to the market in November, despite pressure from consumers to calm a market witnessing heavy demand for oil. Ministers of the Organization of …

Oil prices were mixed, as sales that were boosted by an unexpected increase in crude inventories in the United States eased, while analysts expect that the supply may not meet the recovering demand. Brent crude fell eight cents to $78.56 a barrel, after falling 0.6 percent on Wednesday. US crude …

Sources said that OPEC+ will likely stick to an existing agreement to add 400,000 barrels per day to its production in November when it meets next week, despite the fact that oil reached its highest level in more than three years above $ 80 a barrel and pressure from consumers …

Oil prices rally as supply and demand conflict with West Texas Intermediate up near to 2% on the trading day.WTI crude expects substantial buying flow according to the Commodity Trading Advisor, supporting higher prices.WTI is currently trading at USD 75.33 and is higher by 1.85% from as low as USD …

Two sources from the group of OPEC+ oil producers told Reuters that the group’s commitment to production cuts increased to 116 percent in August from 109 percent in July.

The Organization of the Petroleum Exporting Countries (OPEC) is likely to lower its forecast for global oil demand growth in 2022 when it publishes its monthly report on Monday, two OPEC sources told Reuters on Friday.

As is widely expected, OPEC stuck to the plan to raise production by 400 barrels in October. The meeting is still going on to be updated…

It is expected that the upcoming meeting for the Organization of the Petroleum Exporting Countries (OPEC) and its allies will decide on Wednesday to maintain the current output policy, which entails easing production cuts gradually, amid a global recovery from the pandemic. The OPEC+ previously decided to increase production by …

At their meeting on September 1, the OPEC and its allies (OPEC+) are likely to maintain the oil output policies, Reuters reports, citing sources familiar with the cartel’s thinking. The sources said that OPEC+ will kick off with the planned 400K barrel per day (bpd) hike from September. “Current oil …