Gulf Times - OPEC
Oil producers agree to stabilise global market

Oil producers agree to stabilise global market

Members of the Organisation of the Petroleum Exporting Countries (OPEC) and non-members have confirmed their intention to continue work to strengthen the stability of the world oil markets ...

Global oil demand may reach 98.83mn bpd in 2018: Opec

Global oil demand may reach 98.83mn bpd in 2018: Opec

The total global oil demand is anticipated to reach 98.83mn bpd in 2018; Opec’s latest monthly bulletin has shown.

Oil rises as US sanctions on Iran stoke supply worries

Oil rises as US sanctions on Iran stoke supply worries

Brent crude oil futures rose 89 cents to $74.64 per barrel by 10:18 am EDT and US West Texas Intermediate (WTI) crude futures were up 52 cents at $69.53 a barrel.

Brent crude hits three-month low on higher supply

Brent crude hits three-month low on higher supply

Brent crude futures fell 33 cents to $71.83 a barrel, while US West Texas Intermediate (WTI) crude futures fell 45 cents to $67.63 a barrel.

Iranian oil minister calls Trump's order to OPEC insulting

Iranian oil minister calls Trump's order to OPEC insulting

Iran's oil minister on Saturday accused US President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding Iranian oil production and exports had not changed ...

Congo Republic becomes Opec oil cartel's newest member

Congo Republic becomes Opec oil cartel's newest member

Congo Republic, one of Africa's major oil producers, has joined the Organization of the Petroleum Exporting Countries (Opec), Opec said in a statement on Friday.

Opec agrees modest hike in oil supply after Saudi and Iran compromise

Opec agrees modest hike in oil supply after Saudi and Iran compromise

Opec agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to help reduce the price of crude and avoid a supply shortage.

Opec strives for new deal as Iran still wary of output hike

Opec strives for new deal as Iran still wary of output hike

Opec's leader Saudi Arabia and Russia were trying on Thursday to convince fellow oil producers to raise output from July to meet rising global demand.

Trump, Iran spar over oil prices ahead of Opec meeting

Trump, Iran spar over oil prices ahead of Opec meeting

US President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming Opec for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran.

Opec, allied producers' pact helps reduce stock overhang: al-Sada

Opec, allied producers' pact helps reduce stock overhang: al-Sada

The 'Declaration of Co-operation' agreement between Opec (Organisation of the Petroleum Exporting Countries) and allied non-Opec countries effective from January 1, 2017, has been very successful, the minister said.

Iraq accuses other oil producers of exceeding quotas

Iraq accuses other oil producers of exceeding quotas

Iraq on Monday accused other oil-producing countries of extracting more barrels of crude than agreed by OPEC and its partners, ahead of a meeting of the cartel next week.

Crude oil eases for 2nd day on prospects of higher supplies

Crude oil eases for 2nd day on prospects of higher supplies

Brent crude oil futures slid for a second session on Monday as the market was weighed down by a climb in US output to a record-high and expectations that Opec members will raise supplies.