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Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
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Resistance To COP28 Plegde To Phase Out Fossil Fuels After OPEC Pushback
Some countries are resisting a pledge to phase-out fossil fuels in a COP28 climate deal, jeopardising attempts for UN climate talks to deliver a hard commitment for the first time in 30 years on ending the use of oil and gas.
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Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
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Saudi Arabia Announces Fresh Output Cut To Boost Oil Price
Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.
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OPEC Head Mohammad Barkindo Dies At 63 In 'Shock' To Oil Cartel
OPEC Secretary General, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, it was announced on Wednesday, leaving the oil cartel without a head at a tumultuous time for the markets.
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Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
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Oil Extends Gains As Major Producers Flag Capacity Limits
Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.
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Macron Tells Biden That UAE, Saudi Can Barely Raise Oil Output
Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to boost global deliveries that could reduce prices.
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
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US or Russia? Ukraine Crisis Poses Dilemma For Wealthy Gulf
As the world rushed to condemn the Russian invasion of Ukraine, the wealthy Gulf Cooperation Council (GCC) countries, including Saudi Arabia and the UAE, have largely kept quiet.
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Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
-
Resistance To COP28 Plegde To Phase Out Fossil Fuels After OPEC Pushback
Some countries are resisting a pledge to phase-out fossil fuels in a COP28 climate deal, jeopardising attempts for UN climate talks to deliver a hard commitment for the first time in 30 years on ending the use of oil and gas.
-
Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
-
Saudi Arabia Announces Fresh Output Cut To Boost Oil Price
Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.
-
OPEC Head Mohammad Barkindo Dies At 63 In 'Shock' To Oil Cartel
OPEC Secretary General, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, it was announced on Wednesday, leaving the oil cartel without a head at a tumultuous time for the markets.
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
-
Oil Extends Gains As Major Producers Flag Capacity Limits
Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.
-
Macron Tells Biden That UAE, Saudi Can Barely Raise Oil Output
Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to boost global deliveries that could reduce prices.
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
-
US or Russia? Ukraine Crisis Poses Dilemma For Wealthy Gulf
As the world rushed to condemn the Russian invasion of Ukraine, the wealthy Gulf Cooperation Council (GCC) countries, including Saudi Arabia and the UAE, have largely kept quiet.
