OPEC

By Alex Lawler and Olesya Astakhova Review deadline slips to mid-November, two sources say Not all members submitted data, sources say Timeline allows OPEC+ to consider findings at next group meeting LONDON/MOSCOW, Oct 2 – An OPEC+ review to help to determine members’ 2027 oil output quotas ‌has been delayed after the US-Israeli war on …

OPEC+ Delays Oil Capacity Review After Iran War Disrupts Expansion Plans, Sources Say Read More »

  Summary OPEC+ November output targets to stay steady, sources say Gulf members output far below pre-war levels despite target hikes OPEC+ JMMC panel also meets on ​Sunday OPEC+ oil-producing countries are ‌likely to keep their oil production targets steady for November when they meet on Sunday, two sources with knowledge of the matter told …

OPEC+ Oil Producers Set to Keep Output Targets Steady at Sunday Meeting Read More »

(Reuters) – Saudi Aramco shut down its 400,000 barrel per day Jazan oil refinery in Saudi Arabia on July 27 following an attack by Yemen’s Houthi militants on Saturday, a note from consultancy IIR seen by Reuters showed. The attack damaged the plant’s Integrated Gasification Combined Cycle (IGCC) complex and the tank farm area, the …

Saudi Aramco Shuts Jazan Oil Refinery After Attack, IIR Note Shows Read More »

(Reuters) – Yemen’s Iran-aligned Houthis said on Monday they targeted a number of sensitive crude oil supply and transport sites linking eastern Saudi Arabia to the critical Red Sea oil export hub of Yanbu. Saudi state oil giant Aramco did not immediately respond to a request for comment. Houthi military spokesperson Yahya Saree said the …

Houthis Say They Targeted Saudi East-West Oil Transport Read More »

By Olesya Astakhova and Alex Lawler OPEC+ seven members meet on August 2 Iran war pushes oil back to $100 a barrel Red Sea threats raise Gulf export concerns MOSCOW/LONDON, July 23 – OPEC+ oil-producing countries will likely agree a further hike in ‌output targets from September when they meet on August 2, three sources …

OPEC+ Likely to Again Raise Oil Output Targets From September, Sources Say Read More »

(Reuters) – Iraq’s Prime Minister Ali al-Zaidi said on Tuesday that Iraq needed a fair share within OPEC after he was asked by reporters whether he was considering leaving the oil producer group. Zaidi is on a trip to Washington as he aims to secure major U.S. investment in his country’s oil, gas, and power …

Iraq Needs a Fair Share Within OPEC, Says Prime Minister Read More »

(Reuters) – Iraq will not leave OPEC, but is seeking a fair output quota within the oil producer group, Iraqi Prime Minister Ali al-Zaidi said in an interview with Saudi-owned Al Arabiya TV, according to his office. Reuters reported in an exclusive in June that Iraq, the group’s second-largest producer after Saudi Arabia and one …

Iraq Will Not Leave OPEC But Seeks Fair Output Quota, PM Says Read More »

(Reuters) – The United Arab Emirates has fired the opening shot in what is fast becoming a fierce battle among Middle East oil producers to reclaim market share after the Iran war, a contest that threatens to weaken oil prices and further erode OPEC’s authority. Gulf producers, desperate for revenue to replenish state coffers depleted …

OPEC is Likely Loser in Gulf’s Post-War Race for Market Share: Bousso Read More »