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OPEC+ to maintain same production plan for June
- Next meeting of OPEC and non-OPEC members scheduled for June 2
Global oil output rises by 370,000 barrels per day in March
- OPEC crude oil output averages 28.56 million barrels per day in March, marking an rise of about 57,000 barrels per day month on month
Oil up as China eases pandemic restrictions, OPEC warns of supply risks
- OPEC warns EU that sanctions on Russia could create severe oil supply shocks, the supply gap from which would be impossible to replace
OPEC ends reliance on International Energy Agency data
- Wood Mackenzie and Rystad Energy will be used as secondary sources with immediate effect
OPEC+ confirms to continue previously-agreed output plan
- Next meeting of OPEC and non-OPEC members is scheduled for May 5
Oil down as US due to announce massive oil release from emergency stocks
- Country is currently holding 568.3 million barrels of crude oil in its reserves
Global oil output rises by 960,000 barrels per day in February
- OPEC forecast remains unchanged for global oil demand in 2022, with growth of 4.2 million barrels per day, due to recent developments
UAE energy minister expresses commitment to OPEC output plan
- Show of support from UAE minister for OPEC plan comes after country’s ambassador to US said UEA supports production rise from OPEC+ group
US gasoline prices hit highest levels in 10 years
- Average price up almost 40% from last year
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Is Iranian oil solution to curtailing rising oil prices?
- Positive nuclear talks developments strengthen expectations of return of roughly 1 million barrels per day of Iranian oil to market by year end
OPEC+ to keep output unchanged despite growing pressure to increase
- Next meeting of OPEC and non-OPEC members is scheduled for March 31
Brent oil hits over $106 due to uncertainties ahead of OPEC+ meeting
- Fear of supply disruptions from new sanctions against Russia, as well as counter-sanctions by Russia, drives prices up
OPEC+ under pressure to pump more oil due to supply risks from Russia-Ukraine crisis
-Experts warn of record price surges if OPEC+ insists on current production levels
Oil prices to hit over $100 per barrel in 2022: Analysts
- Declining OPEC+ spare capacity poses threat for oil market while tension in Eastern Europe exerts additional price pressure, says Int. Energy Agency
Global oil output rises by 0.71 mln. barrels per day in Jan.
- OPEC forecast remains unchanged for global oil demand in 2022, with growth of 4.15 million barrels per day
Brent posts over 5% gain to near $93 in week ending Feb. 4
- Commercial crude inventories fall by 1 million barrels to 415.1 million barrels, exceeding expectations of a stockpile build to bolster prices
OPEC+ keeps production unchanged for March
- Next meeting of OPEC and non-OPEC members is scheduled for March 2
Oil edges higher ahead of OPEC+ oil producers meeting
-23-member group is expected to stick to its decision of increasing output by 400,000 barrels per day through March
Oil up on expectations of tight market due to OPEC+ output policy
-23-members of OPEC and allies, known as OPEC+, will hold ministerial meeting on Wednesday to review production policy
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Oil up as political tension in Ukraine spurs supply fears
- Upcoming meeting of OPEC group and allies is not expected to help raise prices as group is set to maintain gradual increase policy
Global oil output rises by 0.65% in December 2021
- OPEC forecast unchanged for global oil demand in 2022, with growth of 4.15M
Saudi Arabia surpasses Russia as top OPEC+ producer
-Analysis by Energy Intelligence show output levels of two major oil producers have been equal since April 2020
Oil prices rise around 5% during in week ending Jan. 7
-Supply concerns driven by unrest in OPEC member Kazakhstan, outages in Libya as well as OPEC+ production decision have lion’s share in upward price movements
Brent surpasses $80 as OPEC+ output decision cements trust in market
- OPEC+ production scheme and decline in US crude inventories help upward movements
OPEC+ sticks to existing production policy for February
- Next meeting of OPEC and non-OPEC members is scheduled for Feb. 2
Oil up over expectations ahead of OPEC+ meeting
-23-member group is scheduled to meet later on Tuesday
Haitham Al-Ghais appointed as OPEC secretary general
- Currently serving as deputy director for international marketing at Kuwait Petroleum Corp., Al-Ghais will be group’s new secretary general from Aug. 1
Shifting from demand to supply woes, oil posts over 50% gain in 2021
- OPEC+ decisions, output disruptions due to cold snap in Texas, storms in Gulf of Mexico and crucial supply/demand fluctuations mark milestones in 2021