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Oil prices climb after OPEC+ keeps output unchanged

Monday, 05 December 2022 08:50
Oil prices rose as much as 2 percent on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude.

OPEC+ sticks to 2mbd output cut

Sunday, 04 December 2022 18:25
Tehran (IP) - The 23 member countries of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) did not change the goal of reducing daily production by 2 million barrels per day until the end of 2023.

185th OPEC meeting held online

Sunday, 04 December 2022 10:22
The presidency of the Organization of the Petroleum Exporting Countries (OPEC) and its board of governors were entrusted to Equatorial Guinea and Kuwait, respectively.

OPEC Sec. Gen. Sends Message of Condolences on Shiraz Terrorist Attack

Sunday, 30 October 2022 18:23
Haitham Al Ghais, the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) sent a message expressing his condolences over the death of dozens of the visitors of Shahcheragh Holy Shrine in the southern city of Shiraz by a terrorist attack last week.

Türkiye criticizes US for bullying S. Arabia over oil supply cut

Friday, 21 October 2022 23:57
IP- Türkiye on Friday reprehended the US criticism of Saudi Arabia over the OPEC+ decision to cut oil production.

OPEC Secretary General warns of fluctuation in oil market

Monday, 17 October 2022 04:31
The secretary general of the Organization of Petroleum Exporting Countries (OPEC), said today that the oil markets are going through a stage of great fluctuations.

Saudi Arabia rejects US request to delay OPEC+ oil cut decision

Wednesday, 12 October 2022 04:25
Saudi Arabian officials bluntly refused to comply with White House requests that the Riyadh-controlled oil-producing alliance OPEC+ withhold for a month the production cuts it announced last week, the Wall Street Journal reported Tuesday.

OPEC+ actual oil production fall to be lower than quota cuts

Tuesday, 11 October 2022 12:46
IP- The decision by the Organization of Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, to cut oil production by two million barrels per day (bpd) starting in November will have a muted impact on the global oil market since the actual output cuts will be smaller, Fitch Ratings said Monday.

Biden's foreign policy with Saudi Arabia has 'failed' 'badly': Washington Post 

Sunday, 09 October 2022 08:46
The Washington Post writes that the US administration has "failed" "badly" in persuading the Saudi Arabian government to help with US energy policy after OPEC recently cut crude oil production by 2 million barrels per day.

US suggests relaxing sanctions against Venezuela to boost oil exports: Russia

Friday, 07 October 2022 21:04
Moscow (IP) - Washington may ease sanctions against Venezuela in order to increase oil supplies to the global market; however, experts insist that this won’t compensate for the reduction in oil output from the OPEC+ deal, Russian daily Vedomosti reported.