The Latest Breaking News from OPEC

Petrol prices have continued to rise over the past week and are now hovering around $2 a litre ahead of an expected dip before Christmas.

Shadow climate change secretary says group would cooperate to cut energy prices and promote clean technology

Arab leaders on Wednesday concluded the 31st Arab League summit. The first Arab League gathering in three years took place against the backdrop of rising inflation, food and energy shortages, drought and the soaring cost of living across the region. The gatherers stressed the centrality of the Palestinian cause and…

The world must act swiftly to invest in oil to prevent future energy emergencies as global demand for the hydrocarbon grows in the long term, Organization of the Petroleum Exporting Countries (OPEC) Secretary General Haitham Al Ghais said on Tuesday. "If we don't get it right this time we are…

Saudi Arabia has shared intelligence with American officials that suggests Iran could be preparing for an imminent attack on the kingdom

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