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Results for
OPEC
128 Results-
White House welcomes OPEC+ decision to stick to planned output increase
The White House on Tuesday welcomed a decision by top oil producers to stick with their plans to raise crude production and touted “close” ... Energy -
OPEC and allies gradually pump more oil amid omicron spike
The 23-member OPEC+ alliance said it would add 400,000 barrels per day in February, sticking with a road map to slowly restore cuts in output made during the depths of the pandemic. Energy -
OPEC’s incoming top official says keeping OPEC+ pact is top priority
OPEC’s secretary general-elect told Reuters on Monday a top priority for him is to keep the group’s pact with Russia and other producers in place, ... Energy -
OPEC names Kuwait oil executive as secretary general
Top oil producing countries on Monday picked Kuwaiti oil executive Haitham al-Ghais as the next secretary general of the Organization of the Petroleum ... Energy -
OPEC+ likely to stick to existing policy at Jan. 4 meeting: Sources
OPEC and its allies will probably stick to their existing policy of modest monthly increases in oil output at a meeting next week, four sources said, ... Energy -
Kuwait’s candidate has widespread support for top OPEC job: Reuters
Kuwait's candidate to lead the Organization of the Petroleum Exporting Countries (OPEC) has widespread support from the group, with current secretary ... Energy -
Oil prices dip towards $74, after IEA report points to omicron concerns
Oil prices dipped towards $74 a barrel on Tuesday after the International Energy Agency (IEA) said that the new omicron coronavirus variant was set to ... Energy -
OPEC raises 2022 oil demand forecast, says omicron variant impact to be mild
OPEC on Monday raised its world oil demand forecast for the first quarter of 2022 but left its full-year growth prediction steady, saying the omicron ... Energy -
OPEC will continue with supply adjustments for oil market, says Barkindo
The Organization of the Petroleum Exporting Countries (OPEC) will continue with its supply adjustments for the oil market, the OPEC Secretary General ... Energy -
OPEC+ to go ahead with oil output rise, as US pressure trumps COVID-19 scare
“Politics triumphs over economics. Consumer countries mounted enough pressure,” said veteran OPEC observer Gary Ross. “But weaker prices now will only mean stronger later.” Energy -
Algeria appoints new governor to OPEC: Source
Algeria has appointed Achraf Benhassine as its new governor to the Organization of the Petroleum Exporting Countries (OPEC), replacing Mohamed Hamel, ... North Africa -
Iraq backs OPEC’s existing plan for gradual output rise, ministry says
Iraq backs continuing OPEC’s existing plan to raise the group’s output by 400,000 barrels per day (bpd) each month since August, the oil ministry said ... Economy -
UAE fully committed to OPEC+ agreement, has no ‘prior stance’: WAM
The United Arab Emirates is fully committed to the OPEC+ agreement and has no “prior stance” ahead of an upcoming meeting on December 2, state news ... Energy -
US oil export ban will raise prices worldwide: Expert
In an attempt to cool surging fuel prices, a US ban on oil exports will have the opposite effect, energy expert Daniel Yergin told Al Arabiya.For the ... Energy -
In a first, Japan considers release of oil reserves after US request: Sources
Japan is considering the unprecedented release of state oil reserves after a request from Washington for coordinated action to combat soaring energy ... World News -
Brazil has no plans to join OPEC ‘at the moment:’ Minister
Brazil continues to work with the Organization of the Petroleum Exporting Countries (OPEC) but has no plans to join the group “at the moment”, ... Energy -
OPEC secretary general expects oversupply in oil market next year
OPEC Secretary General Mohammad Barkindo said on Tuesday that he expects an oil supply surplus as early as December and the market to remain ... Energy -
Oil prices bounce back on tight supplies, but demand worries limit gains
Oil rebounded from a weak start on Tuesday as worries over tight inventories underpinned prices, although optimism was limited by fears over demand ... Energy -
UAE energy minister sees energy demand increasing, can’t rule out fossil fuels
UAE Energy Minister Suhail al-Mazrouei said on Monday that all indications point to an oil supply surplus in the first quarter of 2022 and he expected ... Energy -
UAE, opening oil and gas summit, says no unplugging from hydrocarbons
Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber said on Monday the world could not “simply unplug” from hydrocarbons and that the ... Energy -
Biden says he doesn't see OPEC+ shifting to help with oil prices
President Joe Biden acknowledged that OPEC+ countries won’t increase oil output enough to meet US demands and left the door open to a range of options ... Energy -
Kuwait nominates former governor Haitham al-Ghais as new OPEC chief: Sources
Kuwait has nominated its former governor to the Organization of the Petroleum Exporting Countries (OPEC), Haitham al-Ghais, to lead the oil producer ... Energy -
Oil climbs as investors assess response to modest OPEC+ hike
Oil advanced in Asian trading as investors assessed the potential supply response from the US to a gradual hike in production from OPEC+, which may ... Energy -
Decision on tapping oil reserve up to Biden: US Energy Department
Brent crude fell about 1 percent on Thursday to $81.17 a barrel on a report that Saudi Arabia’s oil output will surpass 10 million barrels per day for the first time since the outset of the pandemic. Energy -
Saudi Arabia Energy Minister: Gradual oil production increase is the right move
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said on Thursday increasing the production of oil gradually was the right thing to do, ... Energy -
OPEC+ rejects Biden’s plea for bigger oil-supply increase
OPEC and its allies will stick to their slow pace of oil-production increases, disregarding US President Joe Biden’s demand to go faster.After a brief ... Energy -
Oil sector needs investment to avert volatility like gas market, UAE minister says
The global oil market is at risk of the sort of volatility the gas market is currently witnessing unless proper investment is made, the United Arab ... Energy -
OPEC+ sticks to plan for gradual oil output hike, price roars higher
OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to ... Energy -
Oil will be world’s No. 1 energy source for decades: OPEC
As the world’s nations prepare to gather for another climate summit next month in Glasgow, the OPEC oil cartel is reminding that, in their view, crude ... Energy -
OPEC+ struggles to pump more oil to meet rising demand
OPEC and its allies struggled again to pump enough oil in August to meet global demand as it recovers from the coronavirus pandemic, potentially ... Energy