The Organization of the Petroleum Exporting Countries (OPEC) Secretariat announced on Wednesday it received the plans of the group and its allies' (OPEC+) members, namely Russia, Kazakhstan, and Iraq, to compensate for their failure to reduce the volumes of their oil production in the first six...
Gazprom Neft CEO and Management Board Chairman Alexander Dyukov said the company is set to boost hydrocarbon production in the upcoming year, with the scale of oil output contingent on the OPEC+ quota designated for Russia, TASS reported on Saturday.
Dyukov emphasized last year's...
Saudi Energy Minister Abdulaziz bin Salman underscored on Sunday that OPEC+ is not "targeting" a certain price range of the commodity, stressing that this strategy always "failed miserably."
"We don't like neither short-term, mid-term or long-term volatility," the Saudi energy minister said during...
Saudi Ministry of Energy announced on Sunday that Riyadh will be making a unilateral reduction in crude oil volume production, slashing another 1 million barrels per day in July, in addition to extending the voluntary production cut by 500,000 barrels per day until the end of 2024.
According to the...
The Organization of Petroleum Exporting Countries (OPEC) and its Russia-led allies (OPEC+) on Sunday agreed to set a new production target at 40.46 million barrels per day starting from January through December of the next year. The production baseline until the end of this year remains...
Saudi Arabia is said to have decided to voluntarily slash crude oil production further, Energy Intelligence's Amena Bakr wrote on Sunday, as the Organization of Petroleum Exporting Countries (OPEC) and its Russia-led allies (OPEC+) gather in Vienna to decide on production baselines in the...
Organization of the Petroleum Exporting Countries and its partners led by Russia could announce a cut in oil production of between 1.5 and two million barrels per day, Energy Intelligence reported on Wednesday.
The final agreement energy ministers will agree on could entail a 1.8 million bpd...
The combined production levels of the Organization of the Petroleum Exporting Countries and its partners are likely to remain unchanged after their meeting on September 5, The Wall Street Journal reported, citing unnamed sources familiar with the matter.
In an internal OPEC+ meeting last week,...
Gazprom Neft CEO and Management Board Chairman Alexander Dyukov underlined on Tuesday that world prices of crude are stable thanks to the OPEC+ deal has helped to stabilize crude oil prices in the markets, noting that geopolitical factors continue to drive up the costs.
"OPEC+ eventually...
Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman, also known as MbS, spoke on Thursday and noted that the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) are "consistently fulfilling their obligations in order to maintain the...
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