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OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut. The meeting of OPEC+, which pumps half of the world’s oil, comes during a fresh U.S. effort to …
OPEC+ Holds Oil Output Steady, Agrees Capacity Mechanism Read More »
LONDON, Nov 25 (Reuters) – OPEC+, which pumps about half the world’s oil, has paused oil output hikes for the first quarter of 2026 after releasing some 2.9 million barrels per day into the market since April 2025. The group still has about 3.24 million bpd of output cuts in place, representing around 3% of …
Explainer: OPEC+ Policies of Oil Output Hikes and Cuts Read More »
By Ahmad Ghaddar and Alex Lawler OPEC+ meets on Sunday, expected to be online Eight OPEC+ members to also meet on Sunday to review market LONDON, Nov 25 (Reuters) – OPEC+ is likely to leave output levels unchanged at its meeting on Sunday while focusing talks on a theoretical topic of how much oil its …
OPEC+ Seen Keeping Oil Output Unchanged, Focus on Capacity Debate Read More »
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 »
By Anthony Di Paola Darren Woods Photographer: David Paul Morris/Bloomberg Abu Dhabi’s Upper Zakum offshore oil field is likely to reach its target for expanding production capacity ahead of schedule, said Exxon Mobil Corp. Chief Executive Officer Darren Woods. Upper Zakum, which Exxon has developed in partnership with Abu Dhabi’s government-owned producer and Japan’s Inpex …
Giant Abu Dhabi Oil Field Could Hit Target Early, Says Exxon CEO 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 »
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Group likely to agree to 137,000 bpd hike, sources say New sanctions make it difficult for Russia to raise output OPEC+ has slowed pace of increases amid glut predictions Eight OPEC+ countries to meet online on Sunday LONDON/MOSCOW, Oct 31 (Reuters) – OPEC+ will likely agree on …
OPEC+ Likely to Agree Small Oil Output Increase for December, Sources Say 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 »
