Page 12 - Opec

Oil at highest since 2014 as OPEC panel advises sticking to plan

The market has tightened significantly following the economic recovery from the pandemic and supply disruption in the Gulf of Mexico due to Hurricane Ida

OPEC+ panel recommends sticking to oil output plan, sources say

A OPEC+ ministerial panel has recommended that the oil producing group stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November

OPEC meets on output increase as oil prices rally

OPEC and its allies meet on Monday to debate how much oil to release into red hot market, where supply disruptions and recovering demand from coronavirus pandemic have pushed oil above $80 per barrel.

Saudis triumph in oil market with comeback from Covid-19 crisis

Eighteen months after slashing crude production during the pandemic, Riyadh is set to pump at almost pre-Covid levels of 9.8 million barrels a day this month

OPEC+ considers options for releasing more oil to the market: Sources

The nearest month any increase could occur is November since OPEC+'s last meeting decided the October volumes

Opec says India will be hooked on oil for years to come

Opec meets almost 71% of India's crude oil requirements

Oil will be world's No. 1 energy source for decades, says OPEC

OPEC says that more electric vehicles on the road and the push for alternative and renewable energy will indeed usher in an era of declining demand for oil in rich countries

OPEC forecasts crude oil demand rebound before post-2035 plateau

Oil use will rise by 1.7 million barrels per day in 2023 to 101.6 million bpd, OPEC said its 2021 World Oil Outlook

As OPEC reopens the taps, African giants losing race to pump more

The oil not pumped is worth hundreds of millions of dollars.

OPEC nations warn of oil market turbulence from gas crisis

Iraq expects higher demand for crude as the shortfall of gas forces consumers to look for alternative fuels, Oil Minister Jabbar said

OPEC sees stronger demand for its crude oil this year and next

The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production.

Saudis cut oil prices to woo buyers as OPEC+ boosts supply

State producer Saudi Aramco is rolling back pricing on all of its grades to its biggest market in Asia.

Oil prices drop after OPEC+ reaffirms supply return as demand wavers

Oil prices fell after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many US refiners remained offline

OPEC+ sticks to agreed schedule for oil-production increases

Ministers ratified the 400,000 barrel-a-day supply hike scheduled for October after less than an hour of talks, one of the quickest meetings in recent memory

OPEC+ seen sticking to policy despite higher oil demand

By Ahmad Ghaddar, Rania El Gamal and Alex Lawler

OPEC+ seen sticking to existing policy despite higher oil demand

OPEC and its allies will likely stick to their existing policy of gradual oil output increases, four sources said on Wednesday, even though the group revised up its 2022 demand outlook

OPEC+ raises 2022 oil demand growth forecast as US pushes to hike output

Two OPEC+ sources said the group's experts revised the 2022 oil demand growth forecast to 4.2 million barrels per day (bpd), up from the previous forecast of 3.28 million bpd.

OPEC+ sees tighter oil market until May 2022; Group set to meet today

OPEC+ expects the oil market to be in deficit at least until the end of 2021 and stocks to stay relatively low until May 2022, OPEC+ sources said

Oil falls as US refineries shut; Washington pushes Opec to pump more

U.S. West Texas Intermediate (WTI) crude futures were down 43 cents, or 0.6%, at $68.78.

OPEC+ committee expects oil market to return to surplus in 2022

The OPEC+ joint technical committee (JTC) expects the oil market to remain in a 0.9 million barrel per day (bpd) deficit this year, but hit a surplus of 2.5 million bpd in 2022