Tag Archives: OPEC

CAIRO | Xinhua |  The United Arab Emirates (UAE) on Tuesday announced its decision to quit the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, effective on May 1, following “a careful look at the regional power’s energy strategies.” Why is the UAE leaving one of …

DUBAI  | Xinhua | The United Arab Emirates (UAE) said Tuesday it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, with effect from May 1, 2026, the Emirates News Agency (WAM) reported. The decision reflects the UAE’s long-term strategic and economic vision …

VIENNA | Xinhua |  The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, on Sunday decided to increase oil output by 206,000 barrels per day in May, according to an OPEC statement. The decision was announced following a virtual meeting attended by Saudi Arabia, Russia, …

VIENNA, Austria | TASS | Oil and gas will continue to account for more than 50% of the global energy balance from 2024 through 2050, while oil alone is expected to contribute slightly less than 30% by 2050, according to the OPEC World Oil Outlook (WOO) long-term forecast. OPEC expects …

VIENNA,  | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) said on Monday it would keep its forecasts for global oil demand growth unchanged at 2.9 percent for 2025 and 3.1 percent for 2026. In its latest monthly oil market report, OPEC projected a year-on-year increase of 1.3 …

  Heart Institute Breaks Ground for Construction of 250 Bed Capacity Facility 🟡10 floors (4 Basement levels) 🟡 3 fully equipped operating theatres 🟡 2 Catheterization Labs 🟡 40 ICU beds 🟡 210 regular beds 🟡 Specialized Teaching Hospital Kampala, Uganda | LOUIS JADWONG | Uganda has started building a state-of-the-art …

MOSCOW | TASS | Several OPEC+ countries, including Saudi Arabia and Russia, have begun voluntarily reducing their oil production by an aggregate additional volume of 2.2 mln barrels per day (bpd) in January. The policy will be in force throughout the first quarter and, depending on market conditions, the petroleum …

LUANDA | Xinhua | Angola on Thursday announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), according to the Angolan government’s Facebook page. The decision followed a session of the Council of Ministers, which took place on the same day at the Presidential Palace in the national …

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Thursday announced further production cuts for next year to bolster oil prices that have recently tumbled amid a weakening economic backdrop. Following a virtual meeting of OPEC+ oil …

Kampala, Uganda | THE INDEPENDENT | Petrol prices and global inflation are likely to tick higher again as the OPEC+ group of oil-producing countries will hold production at nine million barrels a day for the rest of the year. In Kampala, a liter of Diesel was at some pump station nearing …