Opec+ agrees to keep oil output unchanged as Iran tensions boost prices
They will raise production quotas by about 2.9 million barrels per day from April till December 2025, roughly 3% of global demand. [MOSCOW/LONDON] Opec+ agreed to keep its oil…
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OPEC
Trump backs Venezuela staying in Opec
President Donald Trump said on Wednesday that he believes it would be better for Venezuela to remain in the Organization of the Petroleum Exporting Countries, or Opec, but added he was…
Opec says Opec+ raised output in November, leaves demand view steady
Opec said on Thursday (Dec 11) that the wider Opec+ oil producer group nudged up output in November as eight Opec+ members pressed ahead with another production increase, and it maintained…
Oil climbs over US$1 a barrel on Opec action, Ukraine attack
Brent and WTI crude futures settled lower on Friday for the fourth straight month, their longest losing streak since 2023, as expectations for higher global supply weighed on prices Oil…
Opec+ holds oil output steady, agrees capacity mechanism
Other members, such as African countries, have seen declines in production capacity but are resisting quota cuts [LONDON/MOSCOW] The Organization of the Petroleum Exporting Countries and…
Oil falls on drawn-out Ukraine peace talks, all eyes on upcoming Opec+ meeting
Saudi Arabia is expected to lower its January crude price for Asian buyers for a second month to its lowest in five years Crude futures fell marginally on Friday (Nov 28) as investors…
Oil prices fall on Opec 2026 supply outlook
Oil prices fell more than US$2 a barrel on Wednesday, weighed down by an Opec report saying global oil supply will match demand in 2026, marking a further shift from its earlier…
Oil settles flat amid Opec+ output hike, supply glut fears
China is building oil reserve sites to boost stockpiles, according to public data, traders and industry experts Oil prices steadied on Tuesday (Oct 7) as investors weighed a…
Oil prices gain 1% after lower-than-expected Opec+ output hike
Oil prices rose about 1 per cent in early trade on Monday after Opec+ announced a more modest monthly increase in production than expected, tempering some concerns about supply additions.…
Oil posts 8% weekly loss on potential Opec+ supply additions
Oil prices settled higher on Friday but posted a weekly loss of 8.1 per cent after news of potential increases to Opec+ supply. Brent crude futures closed up 42 cents, or 0.7 per cent, at…
Oil settles lower as Opec+ plan adds to expectations of supply surplus
Oil prices settled lower on Tuesday as investors braced for a supply surplus due to potential Opec+ plans for a larger output hike next month and the resumption of oil exports from Iraq’s…
Hedge funds slash bullish oil bets to lowest ever amid Opec hike
Hedge funds chopped their bullish position on US crude to the lowest on record as the Opec+ alliance’s latest decision to boost production compounded already-gloomy forecasts that the…
China can’t be counted on to absorb global crude surplus as Opec+ bumps up production: market watchers
Crude could trade at below US$60 a barrel by end-2025 as the world’s largest oil importer slows down stockpiling The crude oil market is embracing a rising supply glut that will not be…
Singapore to help firms navigate turbulent energy market as Opec+ move adds to market challenges: Low Yen Ling
The government will help firms navigate the turbulent energy landscape amid manoeuvres by Opec+, continuing geopolitical tensions and energy transition challenges, Senior Minister of State…
Opec+ casts shadow on Singapore’s glitzy oil bash as surplus looms
AN EXPECTED move by the world’s top oil-producing nations to once again increase output will set the tone for Asia’s biggest gathering of oil executives this week in Singapore, with…
Oil prices rise as Opec+ agrees to raise output at slower pace from October
The Organisation has been increasing production since April after years of cuts to support the oil market Oil prices rose on Monday (Sep 8) in early trade, paring last week’s losses, after…
Opec+ set to raise oil output further from October: sources
[LONDON/MOSCOW] Opec+ is set to agree to further raise oil output on Sunday (Sep 7) while probably slowing the pace of increases from October compared with recent months because of…
Opec+ agrees further oil output boost from October to regain market share
[LONDON/MOSCOW] Opec+ has agreed to further raise oil production from October as its leader Saudi Arabia pushes to regain market share, while slowing the pace of increases compared with…
Oil prices ease on surprise build in US crude stockpiles, Opec+ to consider output hike
Oil prices eased about 1 per cent to a two-week low on Thursday on a surprise build in US crude inventories last week and expectations that Opec+ producers will increase output targets at…
Oil prices drop as Opec+ weighs another output hike
Oil prices fell by more than 2 per cent on Wednesday ahead of a weekend meeting of Opec+ producers that is expected to consider another increase in production targets in October. Brent…
Saudis raise crude prices to Asia after Opec+ adds barrels
Saudi Arabia raised crude prices for a second consecutive month, signalling confidence in demand for its barrels as Organization of the Petroleum Exporting Countries and its allies (Opec+)…
Oil falls as Opec+ output hike adds to oversupply concerns
Oil prices fell to their lowest levels in a week on Monday after Opec+ agreed to another large output increase in September, adding to oversupply concerns after US data showed lacklustre…
Opec+ agrees in principle another large oil output hike: sources
+ agreed in principle to boost oil output by 548,000 barrels per day (bpd) in September, two Opec+ sources said on Sunday (Aug 3), as the group finishes unwinding its biggest…
Opec+ makes another large oil output hike in market share push
Opec+ agreed on Sunday (Aug 3) to raise oil production by 547,000 barrels per day for September, the latest in a series of accelerated output hikes to regain market share, as concerns…