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OPEC+ agreement ‘essential’ for oil market stability; Saudi King

Saudi Arabia’s King Salman bin Abdulaziz Al Saud has stated that the Organization of the Petroleum Exporting Countries Plus (OPEC+) production pact is "essential"...

OPEC, Non-OPEC members reiterate commitment for oil market stability

The 22nd OPEC and non-OPEC Ministerial Meeting reaffirmed the participating countries' commitment to the Declaration of Cooperation (DoC) to ensure a stable and balanced...

UAE and Saudi Arabia near compromise in oil output deal

Saudi Arabia and the UAE have reportedly reached the outline of a deal that would unlock an agreement by the Organization of the Petroleum...

OPEC+ delayed production decision tests group’s coordination capacity; Fitch

American credit rating agency, Fitch Ratings has stated that the OPEC+ has delayed its decision on the extent of crude oil production increases, raising...

Brent Crude holds near $77 as OPEC+ meeting ends without a supply deal

Brent Crude price surged as OPEC+ completed days of talks without reaching an agreement to resume additional restricted supply next month, depriving the market...

Saudi Arabia disagrees to UAE’s criticism on OPEC+ agreement

Saudi Arabia has disagreed against the criticism of its rival Gulf producer, the United Arab Emirates (UAE) to a proposed OPEC+ agreement, calling for...

Oil prices rally above $75 as OPEC+ holds off on production...

Oil prices closed their differential and ended the week higher, as OPEC+ deferred a long-awaited meeting regarding future production increases.  After bridging their spreads and...

Global oil demand to reach pre-COVID level by 2022 end; IEA

Oil demand is set to rise above pre-pandemic levels by the end of 2022, the International Energy Agency (IEA) predicted, urging OPEC and its...
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