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Tag Archives: OPEC

OPEC to slightly raise oil output in September

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Wednesday announced a slight production boost in September despite calls for speedier increases to rein in high crude prices. The oil alliance decided to increase production by 100,000 barrels …

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OPEC forecasts slower global oil demand growth in 2023

Vienna, Austria | Xinhua | World oil demand is projected to grow further next year, albeit at a slower pace than in 2022, according to a report published on Tuesday by the Organization of the Petroleum Exporting Countries (OPEC). OPEC said in its monthly report that it expects the global oil …

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OPEC+ stays course on oil output boost in August

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, said on Thursday that they would stick to a previously decided output boost in August despite calls for bigger increases to rein in crude prices. At its last meeting in …

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Iraq seeks to raise oil production to 8 mln bpd by 2027

Baghdad, Iraq | Xinhua | Iraq seeks to raise its crude oil production to 8 million barrels per day (bpd) by the end of 2027 to fulfil its commitment to export quota within the Organization of the Petroleum Exporting Countries (OPEC), Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail said Sunday. “Iraq is …

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OPEC+ agrees to significant oil output increases in July

Oil production to increase by 648,000 barrels per day (bpd) in July Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Thursday agreed to significant oil output increases in July amid calls for the alliance to help contain …

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Oil prices jump as OPEC warns of supply risks

OPEC Secretary-General Mohammad Barkindo says prices as being driven not by fundamentals but primarily by political factors at present New York, U.S. | Xinhua | Oil prices surged on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) warned of severe supply risks if Russian oil is fully banned. The West …

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OPEC chief urges global leaders to ensure unhindered energy flow

Vienna, Austria | Xinhua | The head of the Organization of Petroleum Exporting Countries (OPEC) on Wednesday called on global leaders to uphold multilateralism to ensure “unhindered, stable and secure” energy flow to the global market. OPEC Secretary-General Mohammad Sanusi Barkindo made the remarks at a virtual meeting of the joint …

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