OPEC revises its 2024 oil demand forecasts
The Organization of the Petroleum Exporting Countries (OPEC) revised its forecast for global oil demand growth in 2024, citing weaker-than-expected…
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IEA: Oil demand growth continues to slow
Oil demand growth continued its slowing trend in the second quarter of this year, registering an increase of 710,000 barrels…
OPEC extends the period of oil production reduction until 2025
OPEC+ agreed on Sunday to extend most of the big oil output cuts to 2024 but begin phasing them out…
OPEC will meet before the scheduled meeting with its allies, barrel exceeds 80 USD
OPEC will hold an online meeting on Thursday at 10:00 GMT, ahead of the OPEC+ (Organization of the Petroleum Exporting…
IEA: The oil market will register a surplus next year
The world oil market will record a slight surplus next year, even if OPEC+ countries extend their production cuts in…
Russia’s crude oil supplies at the highest level in three months
Moscow is sending massive amounts of crude to the market, even as it announced it will extend its voluntary decision…
C-Bank holds the key interest rate at 7% as inflation drops
Annual inflation rate decreased to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with…
Oil price rises due to supply concerns
The price of oil rose on Monday, against the background of optimism regarding demand from China, production cuts by major…
Oil price at 10-M minimum, an increase in OPEC production is expected
Oil prices continued their downward trend on Monday amid speculation that Saudi Arabia and other OPEC members are discussing an…
OPEC and Russia want to reduce oil production
The Organization of the Petroleum Exporting Countries and 10 other producers, including Russia, will probably decide on Wednesday, in Vienna,…
OPEC decided to slightly increase production starting September
The OPEC+ group, composed of the Organization of the Petroleum Exporting Countries and other major oil producers, decided on Wednesday…
IEA: There are high risks to the oil supply – possibly the biggest crisis in decades
The International Energy Agency (IEA) warned on Wednesday of the risk of “the biggest supply crisis” of oil in decades,…
Brent oil prices have risen by more than 3% amid supply uncertainties
The price of a barrel of Brent oil supplied in May rose by more than 3% on the London futures…
OPEC: Under siege by climate campaigners
The OPEC chief and ministers from major African oil producing countries on Monday defended investments in fossil fuels, saying Africa’s…
IEA is urging the OPEC+ group to increase its oil production
Fatih Birol, head of the International Energy Agency (IEA), said on Wednesday that the OPEC+ group (composed of the Organization…
IEA cere grupului OPEC+ să-şi majoreze producția de țiței
Fatih Birol, şeful Agenţiei Internaţionale a Energiei (IEA), a declarat miercuri că grupul OPEC+ (compus din Organizaţia Statelor Exportatoare de…
Oil majors will increase their production by 400,000 barrels a day
The OPEC+ group (composed of the Organization of the Petroleum Exporting States and other major producers) agreed to maintain a…
Barrel gets closer to USD 90, following escalating tensions between Ukraine and Russia
Crude oil prices rose to $90 a barrel on Wednesday, near the highest level in seven years, following escalating tensions…
OPEC: Global oil demand will return to pre-pandemic levels in 2022
The elected secretary general of the Organization of the Petroleum Exporting States said on Monday that global oil demand should…
OPEC and Russia decide on Tuesday whether to increase oil supply
Organization of the Petroleum Exporting Countries (OPEC), Russia and other oil producers decide on Tuesday whether to increase their supply…
OPEC+ is not responding to US demands to increase oil production
The OPEC+ group (composed of the Organization of the Petroleum Exporting States and other major producers) has resisted calls from…
Omicron variant contributes to lowering the price of oil
Crude oil prices fell by 15% in a single session, with investors anticipating new restrictions with the advent of the…
US throws in the market more oil to control prices
The US will release 50 million barrels of oil from the strategic reserve in a concerted action with China, Japan,…