OPEC projects an 800,000 bpd increase in non-OPEC+ oil supply for both 2025 and 2026, down 100,000 bpd from previous estimates.

Eight OPEC oil producing nations Thursday agreed to boost crude oil production by 411,000 barrels a day, lowering prices by 6%. The increase was much more than expected and starts in May.

OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the flows and smaller ...

OPEC's report also found crude production by the wider OPEC+ fell in April by 106,000 bpd to 40.92 million bpd due in part to a reduction in Kazakhstan, which is under pressure to boost compliance ...

OPEC is sticking to its guns while everyone else is screaming climate emergency. The cartel now says global oil demand will hit 123 million barrels a day by 2050, up nearly 19% from today’s ...

An oil port at Ras Tanura, Saudi Arabia, in 2018. The kingdom and seven other members of the OPEC Plus oil cartel will ramp up oil production by 411,000 barrels a day in July. Christophe Viseux ...

The biennial OPEC Seminar conference took place over July 9-10 at the Hofburg palace in Vienna. Key attendees included Saudi Prince and Energy Minister Abdulaziz bin Salman, along with a slew of ...

OPEC’s crude oil production in May increased less than called for in the OPEC+ agreement which had a large output hike planned for last month. All 12 OPEC members produced 26.75 million barrels ...

Eight members of the OPEC Plus oil producers group said Saturday that they would pump an additional 548,000 barrels a day starting in August, an increase that was higher than some analysts ...