OPEC’s crude oil production edged up by 3,000 barrels per day (bpd) in March compared to February as Iran and Saudi Arabia slightly boosted output while Iraq continued to produce more than it is ...

However, it could only work for so long and soon OPEC will need to make a decision ... But it seems that overproduction—and the rising output of quota-exempt Iran, Venezuela, and Libya ...

OPEC and its allies, known as OPEC+, last week agreed to keep oil output cuts in place until the end of June. "Despite some downside risks, the continuation of the momentum seen in the beginning ...

OPEC and its allies, known as OPEC+, last week agreed to keep oil output cuts in place until the end of June. "Despite some downside risks, the continuation of the momentum seen in the beginning ...

Opec predicted robust fuel use in the summer months on Thursday and stuck to its forecast for relatively strong growth in global oil demand in 2024, highlighting an unusually large gap between ...

Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said ... in its output cuts “will remain ...

OPEC and its allies, known as OPEC+, last week agreed to keep oil output cuts in place until the end of June. “Despite some downside risks, the continuation of the momentum seen in the beginning ...

OPEC forecasts strong oil demand growth in the second and third quarters of 2024 due to summer travel. Increased jet fuel consumption is expected as air travel picks up. Robust economic growth ...

While OPEC has experienced more success than most cartels, lasting 57 years compared to the average 3.7 to 7.5 of the average cartel, the current oil glut, compounded with increasing U.S. control ...

The average oil price of OPEC in March 2024 reached $84.22, showing a $2.99 growth compared to a month before, the report added. R1651/P/S1193/CT18 Related news ...

Additionally, some OPEC countries are limiting output because they exceeded their production quotas in the last few months. This includes Iraq, Nigeria, and the UAE. ‘’Given all these factors ...

to ensure a sound and sustainable market balance," OPEC said. At its Joint Ministerial Monitoring Committee meeting last week, OPEC+ didn’t make any changes to their current oil output policy.