OPEC

(Reuters) – Saudi Arabia, the world’s biggest oil exporter, cut its prices for Asian crude buyers close to the lowest level in four years on Wednesday, in what the market sees as the country’s attempt to regain market share. Saudi Arabia has pushed OPEC+ this year to raise its output targets ahead of schedule. OPEC+ …

Saudi Arabia Cuts July Oil Prices to Asia to 4-year Low After OPEC+ Supply Boost Read More »

The real increase in output will likely be smaller than the headline figure, with perhaps only half reaching the market. By Julian Lee Oil ministers from OPEC+ members agreed on another big increase in production targets for July. But is there room for those barrels without crashing prices? A third straight boost of 411,000 barrels a day will …

The OPEC+ Production Boost May Have a Bigger Bark Than Bite Read More »

By Dmitry Zhdannikov, Olesya Astakhova and Ahmad Ghaddar OPEC+ may discuss hike larger than 411,000 bpd, sources say Eight OPEC+ members to meet online on Saturday at 0900 GMT Kazakhstan has informed OPEC it won’t cut output For an EXPLAINER on OPEC+ output cuts, click here LONDON/MOSCOW, May 30 (Reuters) – OPEC+ may discuss an …

OPEC+ May Discuss Oil Output Hike Larger Than 411,000 bpd for July, Sources Say Read More »

By Grant Smith Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers. Saudi Energy Minister Prince Abdulaziz bin Salman, who has recently doubled down on a radical OPEC strategy shift. Photographer: Vladimir Simicek/AFP via Getty Images OPEC+ looks set to push more oil onto a fragile …

OPEC+ Prepares Third Dose of Oil Shock Therapy Read More »

By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler OPEC+ met online on Wednesday Eight OPEC+ members to meet on Saturday to decide on July output For an EXPLAINER on OPEC+ output cuts, click here LONDON/MOSCOW, May 28 (Reuters) – OPEC+ agreed on Wednesday to establish a mechanism for setting baselines for its 2027 oil production, …

OPEC+ Adopts Plan For 2027 Baselines Ahead of July Output Hike Talks Read More »

(Reuters) – OPEC+ oil producers have three layers of output cuts in place after agreeing the first cutback in 2022. This year, eight OPEC+ members have started to raise production and unwind the third and most recent tranche of cuts. The 22-member OPEC+ will hold an online meeting on Wednesday, which is not expected to …

What OPEC+ Oil Output Cuts Are in Place? Read More »

By Ahmad Ghaddar, Alex Lawler and Yousef Saba Full OPEC+ meeting takes place on Wednesday Eight OPEC+ members meet on Saturday to decide on July output UAE says OPEC+ must be mindful of rising oil demand For an EXPLAINER on OPEC+ output cuts, click here LONDON/DUBAI, May 27 (Reuters) – OPEC+ is likely to agree …

OPEC+ Set to Agree July Oil Output Hike This Week, Sources Say Read More »

By Alex Lawler LONDON, May 8 (Reuters) – OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the flows and smaller drops in Iraq and Libya. The Organization of the Petroleum Exporting Countries …

OPEC April Oil Output Edges Lower Despite Plans for Hike, Survey Finds Read More »