The Latest Breaking News from OPEC

Saudi Energy Minister Prince Abdulaziz bin Salman stressed that OPEC+ did not target specific prices or price ranges, but rather sought to support market stability and balance supply and demand for the benefit of the petroleum industry. Prince Abdulaziz, who chairs the ministerial committee in the OPEC+ alliance, told an…

The UN’s call for windfall taxes must be taken up by governments to help break the power of greedy cartels

Oil prices inched lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to bolster prices after the market's recent slide. Brent crude futures had fallen 81 cents, or 0.9%,…

It started off optimistically, but the ASX 200 lost ground on Tuesday as the market was hit by another rate hike.

Oil prices are sagging amid fears of recessions across the globe

European countries scramble to store as much gas as possible before winter as they brace for shortages

Oil prices rose more than $2 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and support prices at a meeting later in the day. Brent crude futures had risen $2.42, or 2.6%, to $95.44 a barrel by 0641 GMT after gaining…

Oil cartel agrees 100,000 barrels/day cut to production; wholesale gas prices jump after Russia keeps a key pipeline to Europe closed

We expect the SET Index to move higher in September. On the external front, we believe investors have digested the prospect of more rate hikes from the US Federal Reserve and thus expect a limited impact from the next upward move, given the hawkish signals sent recently by Fed chairman…