This move aims to compensate for pumping above agreed levels, with monthly reductions ranging from 189,000bpd to 435,000bpd.

Iraq a fellow OPEC member like Nigeria plans to raise oil production capacity to more than 6 million barrels per day (bpd) by ...

Here’s a look at the Organization of the Petroleum Exporting Countries, headquartered in Vienna, Austria.FactsThe ...

OPEC+ – and allies including Russia – on Thursday issued a new schedule for seven member nations to make further oil output cuts to compensate for pumping above-agreed levels, which will more ...

Crude oil prices inched marginally higher on Friday, buoyed by US President Donald Trump’s continued pressure on Iran and OPEC+ (Organization of the Petroleum Exporting Countries and allies) renewed ...

OPEC+ - the Organization of the Petroleum Exporting Countries and allies including Russia - on Thursday issued a new schedule for seven member nations to make further oil output cuts to compensate for ...

Oil prices held steady on Monday as investors assessed the outlook for ceasefire talks aimed at ending the Russia-Ukraine war ...

U.S. sanctions on Iranian oil and OPEC+ member nations compensating for overproduction have added complexities to the market but have not caused significant price changes locally in Seoni.

Recently, OPEC+ announced additional output cuts by seven member nations to manage supply levels. Meanwhile, U.S. sanctions on Iranian crude exports have further contributed to a tightening supply ...