Tag: OPEC +
UAE announces exit from OPEC and OPEC+ effective May 2026
The United Arab Emirates has announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC) and its extended alliance OPEC+, effective...
Global oil demand to grow by 2.25mn bpd in 2024; OPEC
The Organization of the Petroleum Exporting Countries (OPEC) has reportedly stated that world oil demand will rise by 2.25 million barrels per day (bpd)...
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...
