OPEC reduced its 2026 global oil demand growth forecast to 380,000 barrels per day, marking the fifth consecutive downward revision, while raising expectations for 2027 growth.
Seven OPEC+ major producers decided to keep October crude oil output unchanged from September levels to stabilize the market. This marks the first pause in production increases since April.
OPEC+ nations decided to maintain current oil production quotas for October while US-Iran hostilities disrupt Middle East exports. The group plans to audit member production capacities by month-end to
OPEC+ is expected to maintain its current oil output policy for October despite Iran war disruptions. Sources indicate production increases may pause in Q4 while members review capacity baselines for
Russian Deputy Prime Minister Novak announced a slight reduction in oil output this year due to refinery maintenance, revising forecasts to a 17-year low. Despite temporary declines, OPEC+ maintains s
OPEC+ has lost market influence amid the Iran war due to supply disruptions and blocked export routes. Meanwhile, declining Chinese oil imports have emerged as a key factor balancing global markets ag
OPEC crude oil production increased by 1.17 million barrels per day in July to 19.85 million, driven by Iraq and Kuwait, though supply remains below pre-conflict levels amid ongoing geopolitical shipp
OPEC lowered its 2026 global oil demand growth forecast to 580,000 barrels per day, marking the fourth straight downward revision. The group simultaneously raised its demand growth projection for 2027
OPEC+ approved a 188,000-barrel daily quota increase to complete the unwinding of 2023 production cuts, aiming to replenish depleted stockpiles amid Middle East tensions. The decision provides leeway
OPEC+ plans to increase production by 188,000 barrels per day in September before pausing further hikes. This completes a rollback of 2023 supply cuts while members review 2027 capacity baselines.
OPEC+ members plan to approve a 188,000-barrel daily production increase in September, completing their voluntary cut rollback plan. However, quotas will remain unchanged until January 2027 due to ong
OPEC+ is likely to pause oil output hikes after September through 2026, pending talks on 2027 quotas. Sources indicate further discussion is needed before finalizing future production levels.
OPEC lowered its 2026 oil demand growth forecast to 780,000 barrels per day, marking the third consecutive downward revision. The group raised its 2027 outlook while expecting less consumption impact
OPEC+ core members agreed to raise collective oil production targets by 188,000 barrels per day starting in August, led by Saudi Arabia and Russia. This marks the fifth consecutive month of quota incr
OPEC+ approved an additional 188,000 barrels per day production quota, fueling market bets on a crude supply glut.
Asian equities advanced while oil prices dipped following OPEC+ signals for higher supplies. Technology stocks led gains ahead of earnings, with precious metals and currencies also seeing activity.
Crude oil prices declined below $72 per barrel amid stable shipping flows in the Strait of Hormuz and OPEC+ plans to raise output quotas by 188,000 barrels daily, signaling potential oversupply.
OPEC+ plans to ratify an August oil quota hike of 188,000 barrels daily after a US-Iran peace pact restored Gulf exports. Increased supply risks a global glut and potential price war amid member unity
OPEC projects global oil demand will not peak before 2050, rising to 124 million barrels daily. Policy shifts and emerging market growth are expected to drive $17.7 trillion in industry investment.
OPEC forecasts global oil demand will grow to 113.3 million barrels per day by 2030, prioritizing energy security over climate targets. The organization highlights significant investment needs and exp
OPEC maintained its forecast for robust global oil demand growth through 2030 and 2050, citing policy shifts towards energy security and affordability. The organization expects no demand peak on the h
OPEC reduced its 2026 global oil demand growth forecast to 970,000 barrels per day amidst Middle East supply disruptions. OPEC+ May production also fell as Iranian exports dropped due to US naval bloc
OPEC lowered its 2026 global oil demand growth forecast to 970,000 barrels per day due to weaker non-OECD expectations, while raising the 2027 projection to 1.73 million barrels per day.
OPEC reduced its 2026 global oil demand growth forecast to 970,000 barrels per day, marking the second consecutive downward revision, while raising expectations for 2027.
OPEC+ agreed to raise oil output quotas by 188,000 barrels daily for July, though implementation remains theoretical due to Middle East conflicts. The move aims to restore production halted years ago
OPEC+ approved a 188,000 bpd oil output increase for July amidst geopolitical tensions and the UAE's departure, though actual production remains constrained by the Strait of Hormuz crisis.
OPEC Secretary General Haitham Al Ghais confirmed robust oil demand growth of 1.2 million barrels per day this year, maintaining current estimates despite Middle East conflicts. He urged continued ind
OPEC+ is expected to approve a July oil output increase of approximately 188,000 barrels per day, continuing their gradual production cut unwind despite logistical challenges in the Strait of Hormuz a
Seven OPEC+ members plan to increase July output targets by roughly 188,000 barrels per day despite war-related disruptions in the Strait of Hormuz. Production fell in April, yet the group maintains b
OPEC+ delegates plan to complete oil quota hikes by September despite the Iran war blocking exports and UAE's departure. Production targets remain theoretical as major members face output losses, whil
OPEC reduced its 2026 global oil demand growth forecast while raising expectations for 2027, citing geopolitical tensions from the Iran war as a key factor.
OPEC crude production dropped to a 36-year low in April due to the ongoing Iran war disrupting Persian Gulf exports. The supply shock has boosted fuel prices and threatens global inflation despite som
OPEC+ plans to increase oil output targets by approximately 188,000 barrels per day in June, marking the third monthly rise, though actual supply remains constrained by ongoing U.S.-Iran tensions in t
OPEC+ seeks unity after the UAE's shock exit, agreeing to a symbolic quota hike despite Iran conflict disruptions. Oil prices stay volatile as traders weigh geopolitical risks against the coalition's
OPEC+ nations provisionally agreed to increase June supply targets by 188,000 barrels per day, though implementation depends on the Strait of Hormuz reopening amid regional conflict. This move follows
Seven OPEC+ members agreed to raise oil output targets by 188,000 barrels per day in June. This follows the UAE's surprise announcement to leave the group amid supply disruptions caused by the Iran wa
OPEC+ delegates anticipate a symbolic 188,000 barrels-per-day production increase for June following the UAE's exit, despite logistical constraints from the Iran conflict. Officials state this adjustm
Russian Deputy Prime Minister Alexander Novak confirmed that OPEC+ will continue operations despite the UAE's departure. He cited a global oil deficit making a price war unlikely amidst current logist
OPEC+ is expected to approve an additional 188,000 barrels per day oil output quota at its upcoming meeting, excluding the UAE following its departure. This signals a business-as-usual approach despit
OPEC reduced its Q2 2026 global oil demand forecast by 500,000 bpd to 105.07 million bpd citing Middle East tensions. OPEC+ production also fell in March, with significant drops from Iraq and Saudi Ar
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