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BRASILIA, Brazil (AP) — Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit. The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The …
Brazil to Join OPEC+, Group of Major Oil-Exporting Nations Read More »
Oil producer group OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Donald Trump to lower prices, Bloomberg News reported on Monday citing delegates.Global oil markets remain too fragile to revive production now, the report cited one delegate as saying, adding that another …
OPEC+ Considers Delay to April Oil Supply Increases Read More »
(Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise …
OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts Read More »
(Reuters) – Decisions made by oil producer group OPEC take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al Ghais said at the India Energy Week conference on Tuesday. The comments came after U.S. President Donald Trump repeatedly called on the producer group to increase oil …
OPEC Takes Long-Term View of Global Oil Markets, Aims for Stability Read More »
(Reuters) – U.S. President Donald Trump will restore his “maximum pressure” campaign on Iran and drive its oil exports to zero, a U.S. official said on Tuesday. Such a move would reduce crude supply, boosting oil prices and creating the need for others to pump more. Saudi Arabia and fellow members of the Organization of …
(Reuters) – OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government’s Energy Information Administration from the sources used to monitor its production and adherence to supply pacts. OPEC+ and Donald Trump clashed repeatedly during his first administration in 2016-2020 when the U.S. President …
OPEC+ Rolls Over Oil Policy, Ditches US Government Data Read More »
Summary • OPEC panel to meet at 1300 GMT, sources say • Group scheduled to unwind output cuts gradually from April • Oil rises towards $77 as tariffs spark supply disruption fears (Reuters) – OPEC+ is likely to adhere to current plans to raise output gradually from April when a panel of top ministers meets …
OPEC+ Likely to Stick to Oil Output Hike Plan, Sources Say Read More »
(Reuters) – OPEC+ is unlikely to alter existing plans to raise output gradually when it meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC and its de facto leader Saudi Arabia to bring down prices. The meeting of top ministers from the Organization of the Petroleum Exporting …
OPEC+ Unlikely to Change Output Policy When Panel Meets on Monday, Sources Say Read More »
Kuwaiti’s tenure as OPEC’s top official extended to mid-2028 OPEC+ delayed output restart last week to defend oil prices OPEC appointed Haitham Al-Ghais for a second three-year term as its secretary-general, extending his tenure until mid-2028. The Kuwaiti oil executive has been the top official at the Organization of Petroleum Exporting Countries since mid-2022. OPEC and its allies agreed …
OPEC Gives Haitham Al-Ghais Second Term as Secretary-General Read More »
Group makes fifth reduction to estimate amid signs of weakness Alliance agreed last week to delay, slow revival in its output OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization …
OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast Read More »
