The Latest Breaking News from OPEC

Saudi Energy Minister Prince Abdulaziz bin Salman said that the OPEC+ operated according to a purely economic perspective, without entering into political aspects and alliances. “OPEC+ operates from an economic position and does not get involved in political aspects,” he said on Sunday. The minister’s comments came during the sessions…

The OPEC+ alliance plays an instrumental role in supporting market stability, said OPEC Secretary General Haitham Al Ghais on the sixth anniversary of the group’s formation. The Declaration of Cooperation (DoC) is an unprecedented collaborative framework of 23 oil-producing countries that is based on trust, mutual respect and dialogue, Al…

Lithium stocks made gains in 2022 as spot prices ballooned. Headwinds on the way in 2023 include a possible alliance of producing countries.

Initial agreements worth $29bn will be signed at a Saudi Arabian-Chinese summit this week, official news agency says.

Some 70 years later, the West has a response to OPEC

Australian motorists are enjoying bowser relief in the lead-up to Christmas, but oil markets are threatening to push up petrol prices.

Aramco announced that Saudi Arabia has dropped the January official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low. The price is $2.20 a barrel below official selling prices for December, so the demand outlook remains fragile. The largest oil exporter set the…

Oil markets swung into a massive redrawing of trade routes Monday as EU's embargo of Russian oil took full effect.

Russia is one of the largest producers of crude oil, and it provides more than a third of Europe’s oil imports.