#OPEC

Oil extends second weekly drop on new China recovery concerns

West Texas Intermediate futures slipped 0.7 per cent, after rallying 2.7 per cent on Friday

Oil

Oil set for sixth monthly loss on deteriorating demand outlook

West Texas Intermediate steadied near $75 a barrel after closing 0.6 per cent higher on Thursday

Oil

Oil steady after two-day gain as supply issues blunt demand woes

West Texas Intermediate traded below $79 a barrel after rallying around 2 per cent over the previous two sessions

Oil

Oil extends steep weekly drop with demand outlook in question

West Texas Intermediate fell toward $77 a barrel after dropping the most since the banking crisis in March last week

Oil

Oil set for first weekly loss since banking turmoil last month

West Texas Intermediate futures dipped toward $77 a barrel and are more than 6 per cent lower this week

Oil

Oil powers to fourth weekly advance as global market tightens up

West Texas Intermediate remainder above $82 a barrel, taking its weekly advance to about 2 per cent and the longest winning run since June

Oil

Oil trades near highest close in five months as market tightens

West Texas Intermediate traded above $83 a barrel after advancing by 4.4 per cent over the prior two days

oil

Oil holds loss as stronger US dollar, slowdown concerns weigh

West Texas Intermediate traded below $80 a barrel after closing 1.2 per cent lower on Monday

Oil prices surges after OPEC+ cuts

Oil surges after OPEC+ makes unexpected crude production cut

Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day

Opec+

OPEC+ shows no sign of changing oil output at meeting next week

Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023

Kuwait Oil Company oil spill

Kuwait Oil Company declares ‘state of emergency’ after oil spill

The company said a state of emergency has been declared but no leakage of poisonous gas was detected at the site of the oil spill

OPEC

Saudi Arabia says OPEC flexible and can adjust policy if needed

The kingdom’s energy minister reiterated that the group’s policies are determined by technical studies of market balances

Oman

Oman oil-drilling IPO draws Saudi wealth fund as anchor investor

Anchor investors will subscribe for 40 per cent of the shares at the maximum price

COP28

COP28 chief’s Sultan Al Jaber begins global tour

Nations should aim to raise spending on technologies including carbon capture, nuclear power and hydrogen, according to Al Jaber

OPEC+ keeps output steady amid uncertainty

OPEC+ keeps output steady amid uncertainty

Oil prices have had a rocky start to 2023, with a rally in mid-January fading away by the end of the month

Oil steadies as traders look to China, OPEC for fresh triggers

West Texas Intermediate was little changed above $80 a barrel after declining by almost 2 per cent on Tuesday

OPEC Fund approves over $500m in new global development support

OPEC Fund approves over $500m in new global development support

The 15 new projects approved reflect OPEC Fund’s launch of a $1bn food security action plan and the adoption of its first dedicated climate action plan earlier this year

OPEC Fund approves over $500m in new global development support

OPEC: UAE economy experiencing sustained momentum in 2022

According to the OPEC monthly oil market report for December, recent economic indicators suggest strong growth has been maintained in most activities

OPEC+ pauses as volatility, China Covid rules roil crude markets

The decision by the Organization of Petroleum Exporting Countries and its allies should hold for at least a few months

Oil steadies after wild ride with Chinese demand, OPEC+ in focus

Oil prices have weakened this month on concerns about demand

Kuwait

Kuwait posts smaller deficit for last fiscal year on higher oil

The OPEC member recorded the highest non-oil revenue in seven years, up 38.5 per cent to KD2.4bn

OPEC cuts oil demand outlook as it starts to curb production

OPEC expects that it will need to pump an average of 28.92 million barrels a day of crude to satisfy demand during the fourth quarter

OPEC+ cuts that steadied market now bring risk of $100 crude

OPEC+ cuts that steadied market now bring risk of $100 crude

Brent rose to a two-month high of $99.56 a barrel on Monday, before paring gains

OPEC+

OPEC says supply surplus was main reason for oil production cut

On October 5, the Organization of Petroleum Exporting Countries and its partners announced they would lower their output targets from November

OPEC+ says growing risk of global recession justifies oil cuts

OPEC+ says growing risk of global recession justifies oil cuts

The group agreed on October 5 to reduce its collective crude-output target by 2 million barrels

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

Oil holds gain as investors assess supply, possible OPEC+ cut

The Organization of Petroleum Exporting Countries and its allies convene on September 5

OPEC sees global oil market tipping into surplus this quarter

OPEC cut forecasts for the amount of crude it will need to pump in the third quarter by 1.24 million barrels a day to 28.27 million a day

Oil edges lower as market tightness eases, pipeline restarts

Oil edges lower as market tightness eases, pipeline restarts

West Texas Intermediate declined toward $91 a barrel in early Asian trading

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

Oil steadies as Traders weigh Russian pipeline halt, stockpiles

West Texas Intermediate held above $90 after edging higher on August 9