opec

Calls for completely abandoning oil and fully relying on renewable energy have been deemed “wrong” and “unrealistic” by Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries. “If oil…
Read More...

Saudi Arabia’s crude production increased by 12,000 barrels per day in January to 8.96 million bpd, representing a monthly rise of 0.22 percent, a study showed. According to the latest report by the Joint Organizations Data Initiative,…
Read More...

The settling down of post-pandemic turbulence and a cloudy economic outlook will rein in oil demand growth this year, the International Energy Agency said on Thursday, even as shipping disruptions provide a short-term boost. “(Growth)…
Read More...

The Organization of the Petroleum Exporting Countries expects strong growth in global oil demand in 2024 and 2025 driven by robust economic activities in China. In its latest monthly report, the oil producers’ group said world oil demand…
Read More...

Saudi Arabia’s crude exports hit a five-month high at 6.34 million barrels per day in November, according to data release by the Joint Organizations Data Initiative. The Kingdom’s crude production showed a 1.36 percent decline, to reach…
Read More...

Oil prices jumped 1.5 percent in the first session of the New Year, due to potential supply disruptions in the Middle East after a naval clash in the Red Sea, and hopes of strong holiday demand and an economic stimulus in China, the top…
Read More...

The next meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will be held virtually, it has been announced. The group was due to meet on Nov. 26, but this has been delayed until Nov. 30 – the…
Read More...

The The Organization of the Petroleum Exporting Countries on Thursday stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further…
Read More...

The Organization of the Petroleum Exporting Countries is optimistic on demand and sees under-investment as a risk to energy security, Secretary-General Haitham Al-Ghais said on Monday at an energy industry event in Abu Dhabi. He stressed…
Read More...

Kenya has extended an oil supply deal with three Gulf-based companies, which is designed to manage demand for dollars, the energy regulator said on Tuesday. The East African nation entered the deal with Saudi Aramco, Abu Dhabi National…
Read More...