OPEC Plus had decided to return 2.1 million barrels per day of supply to the market during May to July as it anticipated demand would rise in spite of high numbers of Corona-virus cases in the ...

OPEC members Iran and Venezuela do not want any uptick in production, but Saudi Oil Minister Khalid Al-Falih has suggested a gradual increase of 1 million bpd, while his non-OPEC Russian ...

Recent data shows that OPEC Plus is still withholding 8 million barrels of oil a day from the global market. That is 8% of the global supply.

OPEC-Plus ministers announced early Thursday morning that the group will recommend major new cuts in crude exports in response to falling global demand. The recommendation calls for OPEC nations ...

OPEC Plus avoided difficult decisions on Thursday. The group issued a terse news release, referring to the members’ “consensus” on the outlook for the turbulent oil market that many analysts ...

OPEC has always been ultra-competitive but the cartel's latest move is downright sneaky and may leave global energy markets thirsty. While the globe is getting optimistic about a post-COVID-19 ...

OPEC formed the so-called OPEC+ coalition with 10 of the world's leading non-OPEC oil exporters, including Russia, at the end of 2016. OPEC+ crude output represents about 41% of global oil production.

Unless the OPEC-Plus group makes deeper cuts, Page thinks oil prices will plunge by more than 30% next year. That translates to U.S. gas prices falling from an average of $2.60 per gallon to below $2.

OPEC-Plus’s plan to hike production by 411,000 barrels of oil per day in July comes after its recent daily increases totaling 530,000 barrels for the purpose of curbing American production and ...

The Organization of the Petroleum Exporting Countries (OPEC) and allied producers agreed on December 3 to add 500,000 barrels per day (b/d) to the market beginning in January, with similar increments ...

Typically, OPEC Plus would be scrambling to cut supplies to bolster markets. Such calculations have clearly changed among a smaller group of eight OPEC Plus members, including Saudi Arabia, Russia ...

OPEC Plus struggled to reach this latest agreement for voluntary cuts amid internal tensions among members. The group had planed to gather Sunday, but postponed its meeting as it became clear that ...