OPEC

World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has …

OPEC Sees Balanced Oil Market in 2026, Moves Further Away from Deficit Projection Read More »

By Alex Lawler LONDON, Nov 4 (Reuters) – OPEC’s oil output rose further in October after an OPEC+ agreement to raise production, a Reuters survey found on Tuesday, though the scale of the increase slowed sharply from September and the summer months. The Organization of the Petroleum Exporting Countries pumped 28.43 million barrels per day …

OPEC Oil Output Rises by 30,000 bpd in October, Survey Finds Read More »

OPEC Secretary-General Haitham Al Ghais said on Monday that the group was still seeing positive signs for oil demand and did not expect any surprises in the market. “We are making sure we maintain the supply demand balance”, Ghais added at a panel at ADIPEC energy conference in Abu Dhabi, a day after OPEC+ agreed …

OPEC’s Al Ghais Says Oil demand Outlook Remains Positive, No Market Surprises Expected Read More »

Summary OPEC+ pauses oil output increases for Jan-March 2026 Group agrees output hike of 137,000 bpd for Dec 2025 Oil glut predictions dominate outlook for 2026 New sanctions make it difficult for Russia to raise output (Reuters) – OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in …

OPEC+ Pauses Oil Output Hikes Beyond December Amid Glut Fears Read More »

Saudi Arabia is caught between Donald Trump and a hard place, as the U.S. president’s latest oil sanctions on Russia force Riyadh to weigh competing geopolitical and economic priorities. Washington last week sanctioned Russia’s top two oil companies Rosneft and Lukoil, which jointly produce around 5% of global oil supplies. The U.S. is seeking to …

Saudi OPEC Strategy Pulled by Warring US, Russia Interests: Bousso Read More »

Ron Bousso Summary Brent oil prices drift towards $60 a barrel Future contracts have shifted in recent weeks into a contango structure Huge divergence in estimates over OPEC production to put floor on oil price decline (Reuters) – Global oil prices are signalling that the market is tipping into a protracted period of oversupply, but …

OPEC Production Confusion Should Put Floor Under Oil Prices Read More »

By Olesya Astakhova and Vladimir Soldatkin Novak says OPEC+ key to long-term national interests OPEC head repeats call for investments in oil and gas Energy security key to climate action success, Saudi minister says Saudi minister sees Europe struggling with transition challenge MOSCOW, Oct 15 (Reuters) – Collective action within oil producer group OPEC+ is …

OPEC+ is Key to Strengthening Russia and Saudi Interests, Russia Says Read More »