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OPEC MEMBER OPERATIONS
Oil Price Today (July 3): Crude oil heads for 4th weekly loss on Hormuz traffic, US-Iran talks. Where is liquid gold headed?Brent crude hovered near the $71-a-barrel mark after briefly dipping below that level in the previous session, while US benchmark West Texa...- SEEPCO supplies 6 million barrels of Nigerian crude to Indian refinersAmidst West Asia crisis concerns, India's state-run refiners diversified oil supplies by sourcing nearly six million barrels from Nigeria's...
- Strait path laid for crude prices to travel downwardIndian refinery executives anticipate oil prices falling below $80 per barrel within weeks if a US-Iran agreement is signed Friday, reopeni...
- Oil jumps by 5% after report of US warship being hit by missilesOil prices rose about 5% on Monday after Iran's Fars news agency reported an incident with a U.S. warship in the Strait of Hormuz, sparking...
- UAE oil giant ADNOC pledges $55 billion in new projects by 2028: statementThe Abu Dhabi National Oil Company on Sunday pledged to spend $55 billion on new projects over the next two years, just days after the Unit...
- OPEC just lost one of its biggest players — here's the inside story of the UAE's exit and what the Saudi-UAE split really means for OPEC's market powerUAE Quits OPEC: How the World's Energy Map Just Shifted Permanently. The UAE's departure from the Saudi Arabia-led cartel is being called t...
- Why UAE stepped away from OPEC amid Iran war and soaring crude oil pricesUnited Arab Emirates has announced it will exit OPEC and OPEC+ effective May 1, delivering a fresh shock to an already strained global ener...
- Oil shock will hit Asia harder than the 1970sAsia is experiencing energy shocks similar to the 1970s oil crises, with rising fossil fuel costs impacting consumers and industries. This ...
- Iran's economy has been battered. Its leaders still think Trump will blink firstIran's economy faces severe disruption from U.S. and Israeli strikes. Factories are shut, leading to mass job losses and soaring prices for...
- Iran-Israel war: Iraq urges customers to send oil loading plans after Hormuz exemption, document showsIraq's state oil marketer SOMO has asked customers for crude oil lifting schedules within 24 hours. This follows reports that Iran has exem...
- OPEC+ debates theoretical oil output hike amid Iran war paralysisAs OPEC+ examines the possibility of increasing oil output this Sunday, industry insiders caution that any boost may have little real impac...
- OPEC+ expected to open taps more despite price slumpOPEC+ may increase oil production despite low prices. This follows pressure from US President Donald Trump. Saudi Arabia aims to penalize q...
- Oil heads for seven-week decline for first time in five yearsBoth benchmarks slid to their lowest since late June in the previous session, a sign that many traders believe the market is oversupplied. ...
- OPEC+ meets with little prospect of pumping more oilAt its last gathering in early June, OPEC+ decided to increase output each month by 648,000 barrels per day (bpd) in July and August, up fr...
- Oil prices skid $3 a barrel as investors take profits ahead of OPEC+ meetingWhile China's gradual emergence from strict COVID-19 lockdowns has added to price support, a stronger U.S. dollar also dented oil prices on...
- Opec, oil prices & disruptive innovationUntil this quarter, the revised approach was largely successful in stabilising prices.
- Output cut: Opec doomed to repeat historyHowever, the biggest problem that Opec has may not be in controlling the actions of its members at all, but rather in anticipating how much...
- Goldman Sachs thinks oil prices could fall another 50% as the market spends another year sorting itself outGoldman’s Damien Courvalin wrote the oil market’s supply and demand balance won’t be restored until Q4 of 2016 at the earliest.
- Oil prices up to $90 won't hurt global economy: IranIran's OPEC governor said oil prices of $70-$90 per barrel would not hurt the global economy, the oil ministry's official website SHANA rep...
- Deora to hard sell NELP at Vienna OPEC seminarPetroleum minister Murli Deora will meet ministers of major oil producing countries to enhance hydrocarbon co-operation at the third OPEC i...
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