The Latest Breaking News from OPEC

President Biden has announced a sale of U.S. strategic reserves to bring down gas prices, while OPEC has slashed its oil demand growth estimates. Amid this, we believe fundamentally weak energy stocks Frontline (FRO), Tellurian (TELL), and Camber Energy (CEI) might be best avoided. Read on….

The United States has expressed disappointment in OPEC+'s plans to cut output.

New steps from Group of Seven countries to cap Russian oil sales at an enforced low price will not be replicated against OPEC producers, whose plans to cut output have irked consumer countries, a United States Treasury official told Reuters.

Analysts say shared interests will sustain ties despite Washington’s promise of ‘consequences’ over oil production cuts.

The Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Haitham al-Ghais said on Tuesday that OPEC+ alliance took an unanimous decision to cut oil output as a pre-emptive measure to prevent a crisis. Speaking at the African Energy Week in South Africa, al-Ghais said the heads of delegations unanimously decided…

The Biden administration will sell another tranche of oil from the national reserve in December to put a damper on gasoline prices.

Malaysia has said a decision by OPEC+ member states to cut oil production was unanimous, and made after taking into account the need to address market uncertainties. Malaysia joins other OPEC+ countries this week in backing a steep cut to the group's output target. "OPEC+ countries collectively took into consideration…

It's the latest of several attempts by the Biden administration to try and tame gas prices via the SPR.

U.S. leaders threaten revenge against Saudi Arabia over OPEC's production cuts. They're missing the point