The Latest Breaking News from OPEC

We are all footing the bill of a crooked system that drains our bank balances and heats the planet, says Damian Carrington, the Guardian’s environment editor

Disruption at the UK’s largest container port could escalate until Christmas unless workers are given an improved pay offer, Unite boss says

Oil prices fell on Wednesday, taking a breather from a near 4% surge the previous day, on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+. Global benchmark Brent crude futures fell 40 cents, or 0.4%, to…

Gas-to-oil switching and soaring oil use for power generation are boosting oil demand. Moreover, OPEC might be planning a supply cut, which should drive prices higher. So, we think it could be wise to load up on oil stocks Marathon Oil (MRO) and Murphy Oil (MUR) this fall. Read more….

Saudi Energy Minister Prince Abdulaziz bin Salman has said a new deal between OPEC+ partners beyond 2022 would be agreed. “The paper and physical markets have become increasingly more disconnected,” he said in response to written questions from Bloomberg News. "Soon we will start working on a new agreement beyond…

Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion.

The Saudi government stressed on Tuesday the great need to commit to oil production in line with the agreements reached by OPEC and OPEC+. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Jeddah. The government tackled the outcomes of 31st…

Oil prices dropped on the news of growing U.S. stockpiles and OPEC raising supply. However, a ban on Russian oil amid robust demand might cause oil prices to hit significant highs soon. So, should you invest in energy stocks Occidental Petroleum (OXY) and Devon Energy (DVN) now? Read on to…

OPEC+ is set to raise its oil output goal by 100,000 barrels starting September. OPEC and its allies had been increasing production by about 430,000-650,000 bpd a month. They had, however, struggled to meet full targets as most members have exhausted their output potential following years of under-investment in new…

Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after US data signaled weak fuel demand. Brent crude futures rose 10 cents, or 0.1%, at $96.88 a barrel at 0653 GMT, while West Texas Intermediate (WTI) crude futures was last…

President Joe Biden traveled to Saudi Arabia almost three weeks ago on the possibility that he could get some additional oil production out of OPEC+