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OPEC cuts production to 1991 levels in bid to revive oil...

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(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets...

Extra oil cuts from deliquent OPEC+ members could shrink the market...

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(S&P Global) OPEC+ crude oil production could fall by about 1 million b/d in July and August from May levels, based on plans submitted...

OPEC forecasts improving oil demand in H2 2020, ahead of key...

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(S&P Global) In its latest monthly oil market report released June 17, OPEC kept its 2020 forecasts largely unchanged from the May outlook, noting...

Glut no more: Fresh OPEC+ cuts point to crude and condensate...

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The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude...

Brent climbs above $40 after OPEC+ extends production cuts

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Crude oil prices climbed more than 2% early on Monday as the Organization of Petroleum Exporting Countries (OPEC) and its allies, including Russia, agreed...

Market set to tighten as OPEC+ agrees to extend 9.7 million...

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(Wood Mackenzie) OPEC+ today agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market...

OPEC+ averts full scale disaster in market-based oil industries – Wood...

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Ed Crooks, Vice-Chair, Americas at Wood Mackenzie says rumours of “the death of OPEC” have been circulating for almost as long as the organisation...

OPEC+’s talks for short extension to cuts leave oil prices flat

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(Bloomberg) The oil market took an initially neutral view on OPEC+ deliberations that could result in the producers group announcing a short extension to...

Global economy will not stay paralyzed; oil heading to $40 –...

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OPEC rotating president and Energy Minister of Algeria, Mohamed Arkab, believes oil prices will rise to $40 per barrel following the implementation of the...

Guyana among handful of countries where oil production is expected to...

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Guyana is listed among just a handful of countries in the world where oil production is expected to grow this year despite the decline...