OPEC

ST PETERSBURG, June 4 (Reuters) – OPEC expects robust oil demand growth and ​is not changing its estimates, ‌Secretary General Haitham Al Ghais said on Thursday at the St Petersburg ​International Economic Forum, despite the ​Middle East conflict and closure of ⁠the Strait of Hormuz. “Despite all ​the commentary out there that ​oil demand is …

OPEC Secretary General Says Oil Demand to Remain Robust, No Change to Estimates Read More »

By Grant Smith Oil industry experts have told OPEC+ that supply disruption caused by the closure of the Strait of Hormuz will persist to the end of the year, even if the waterway reopens promptly. Consultants and analysts gathered at OPEC’s Vienna headquarters for a technical meeting on Monday warned that it will take many …

Analysts Tell OPEC+ Hormuz Disruption to Last Through Year End Read More »

By Ahmad Ghaddar and Alex Lawler Seven members likely to raise target by 188,000 bpd on Sunday, sources say Most cannot meet targets due to Hormuz closure Group-wide OPEC+ policy expected to remain unchanged OPEC delegates hold technical talks in Vienna this ​week VIENNA, June 1 (Reuters) – OPEC+ oil-producing countries will likely agree a …

OPEC+ Likely to Raise July Oil Output Target Despite Hormuz Disruption, Sources Say Read More »

By Ahmad Ghaddar and Olesya Astakhova Seven members likely to raise target by 188,000 bpd, sources say Most cannot meet targets due to Hormuz closure Group-wide OPEC+ policy expected to remain unchanged LONDON, May 21 (Reuters) – Seven leading OPEC+ oil-producing countries ‌will likely agree to a modest hike to July output when they meet …

OPEC+ Leaders Expected to Up July Oil Output Target Despite Hormuz Disruption, Sources Say Read More »

(Reuters) – Saudi Arabia’s crude oil exports in March fell to 4.974 million barrels per day from 7.276 million bpd in Feb, official data showed on Wednesday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published …

Saudi Arabia Crude Exports Fall to 4.974 mln bpd in March Read More »

UAE says OPEC, OPEC+ exit was sovereign strategic decision, not political move DUBAI, May 16 (Reuters) – The United Arab Emirates’ decision to withdraw from OPEC and ​OPEC+ was a sovereign and strategic ‌choice based on a comprehensive assessment of its production policy and future capabilities, the UAE ​energy minister, Suhail Al Mazrouei, said on …

UAE Says OPEC, OPEC+ Exit Was Sovereign Strategic Decision, Not a Political Move Read More »

(Reuters) – The oil market will lose around 100 million barrels every week, if the disruptions in the Strait of Hormuz continue at the current rate and it remains closed, the CEO of Saudi oil giant Aramco, Amin Nasser, said on Monday. “We expect demand rationing to continue as long as supply remains disrupted through …

Oil Market Will Lose Around 100 Million Barrels Every Week, if Strait of Hormuz Remains Closed, Aramco CEO Says Read More »

By Alex Lawler OPEC April output plunges 830,000 bpd Eight OPEC+ producers had pledged to raise output before Iran war forced export cuts Biggest drop is in Kuwait LONDON, May 11 (Reuters) – OPEC oil output dropped further in April to the lowest ‌in more than two decades, a Reuters survey found, as the U.S.-Israeli …

OPEC Oil Output Hits New Low in April on Hormuz Export Disruption, Reuters Survey Finds Read More »