Members of the Organization of Petroleum Exporting Countries and their allies decided over the weekend to boost oil output by ...

Eight members of the oil cartel agreed on Sunday to a small increase but said they would now pause in adding more oil, reflecting market concerns about an oversupply.

Discover how OPEC, the global oil cartel, influences oil prices and production in 2024. Learn about its member nations, history, challenges, and current strategies.

Eight OPEC Plus members plan to boost crude oil output again in December. Our site uses cookies and other technologies to give you the best possible experience. By using this site you are consenting ...

Oil prices climbed in early Asian trade on Monday after OPEC+ decided to hold off production hikes in the first quarter of next year, easing rising fears of a supply glut.

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 giving ...

OPEC is pursuing a long-term strategy to increase its market share and is unwinding production cuts, with oil prices remaining strong due to factors beyond OPEC's direct control. The rise in oil ...

The sun begins to set behind crude oil tanks and a pumpjack Tuesday, July 5, 2022 in Midland, Texas. (Odessa American/Eli Hartman) The global oil market just got something of a double boost from a ...

There is also a “substantial gap opening up” between OPEC quotas and production, Morgan Stanley said. The bank’s estimates show a 500,000 barrel-a-day increase in the group’s output in the March to ...

OPEC is ready to raise production by rolling back its oil output cuts further if required to address market shortfalls after ...

LONDON (Reuters) -OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries' crude intake would remain elevated to meet the ...