Search result for: OPEC
The Organization of the Petroleum Exporting Countries (OPEC) remains optimistic about global oil demand and emphasizes the critical need for sustained investment in the oil and gas sector, according to OPEC Secretary-General Haitham Al-Ghais. Speaking at an energy industry event in Abu Dhabi, Al-Ghais expressed concern about under-investment and deemed calls to halt investment in […]
Suhail bin Mohammed Al Mazrouei, the Minister of Energy and Infrastructure, has emphasized the commitment of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies in OPEC+ to maintain market balance and stability.
Saudi Energy Minister Prince Abdulaziz bin Salman defended the decisions taken by the oil producers’ alliance, OPEC+, while emphasizing the importance of trust in the organization.
Oil prices remained steady on Friday as the market grappled with mixed signals regarding supply from Russia and Saudi Arabia ahead of the upcoming OPEC+ policy meeting
In April, Saudi Arabia, along with other OPEC+ producers, surprised the market by announcing voluntary production cuts.
Oil prices experienced a decline as concerns over global economic growth outweighed the positive impact of production cuts made by OPEC+ members.
OPEC Secretary General Mohammad Barkindo has argued that the IEA’s report fails to acknowledge the significant investments made in the oil and gas sector, and that a sudden shift away from these investments could have dire economic consequences.
The OPEC+ alliance has been working to limit oil production since early 2017, in an effort to stabilize oil prices.
OPEC has announced that it will keep its projection for global oil demand in 2023 unchanged, despite concerns over the pandemic’s impact.
Brent crude, the international oil benchmark, dropped by up to 2.8% on Friday morning in New York after reports that the United Arab Emirates (UAE) is considering leaving the Organisation of the Petroleum Exporting Countries (OPEC), a powerful oil producer alliance consisting of 13 members. However, Brent later regained its losses and turned positive, trading […]