The Latest Breaking News from OPEC

Spurred by Lula’s election, the three countries, home to half of all tropical forests, will pledge stronger conservation efforts

OPEC Secretary-General Haitham al-Ghais stressed the importance of increasing investments in the oil sector to avoid any future volatility in the oil markets. Ghais said that among the main challenges are the energy transition and the future of energy in general, adding that OPEC has adopted a policy that aims…

Exxon and Chevron edged up Tuesday after the president called on Congress to tax the oil industry.

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that Saudi Arabia and the UAE were working to increase production capacity, enhance refining volume, and convert oil into petrochemicals. He noted that the two countries were seeking to provide a safe and sustainable energy system. In his speech on the sidelines…

Greek Minister of Development and Investment Adonis Georgiadis said the diversification of energy sources was the European Union’s most important priority. He noted that the world would never return to the previous situation, even if the Russian-Ukrainian war ended. In this regard, Georgiadis stressed that all European countries would try…

Saudi Arabia and the United Arab Emirates are defending a decision by OPEC and its allies to cut oil production

President Joe Biden will make a week-long, three country trip next month for a quartet of summits—including one that could potentially put him in the same room as China’s Xi Jinping and Russia’s Vladimir Putin

Exxon Mobil stock and Chevron shares jumped Wednesday. The energy giants report Q3 earnings this week with big profits and less spending expected.

It's all said to be down to demand - and Americans!