The cartel projects demand will rise by 1.34 million barrels a day next year, slightly below its estimate for 2026.

By Ahmad Ghaddar, Olesya Astakhova and Alex Lawler LONDON, Jan 30 - OPEC+ is likely to keep its pause on oil output increases for March when it meets on Sunday, five delegates told Reuters, even as crude climbs above $70 a barrel on concern the U.

According to the statement, the decision followed a virtual meeting of OPEC+ member states, including Saudi Arabia, Russia, Iraq, the

OPEC said on Monday in a post on X that it had received updated output compensation plans from Iraq, the UAE, Kazakhstan, and Oman. The announc

Equatorial Guinea, OPEC's smallest producer, is seeking $300 million in prepaid deals from commodity traders for future crude and LNG deliveries to finance its struggling oil and gas sector.

KUWAIT (Reuters) -OPEC is ready to raise production by rolling back its oil output cuts further if required to address market shortfalls after the United States imposed new sanctions on Russian oil majors, Kuwait's oil minister said on Thursday. In a sharp ...

OPEC+ kept oil output unchanged on Sunday after a quick meeting that avoided discussion of the political crises affecting several of the producer group’s members. Sunday’s meeting of eight members of OPEC+, which pumps about half the world’s oil ...

Created 50 years ago in the wake of the 1972 OPEC oil embargo, the Strategic Petroleum Reserve exists today in a very different world. Some analysts are asking how it can be utilized more strategically in this energy landscape.

[Stay on top of transportation news: Get TTNews in your inbox.] OPEC+ nations are trying to reach consensus on how to adjust their oil production next month, with either a modest or more substantial supply increase possible, delegates said. Preliminary ...