OPEC

The countries agreed the pause in output hikes for the first quarter at their last meeting held earlier this month

The meeting of OPEC+, which pumps half of the world's oil, comes during a fresh U.S. effort to broker a Russia-Ukraine peace deal, which could add to oil supply if sanctions on Russia are eased

India saved on crude purchases as global prices fell, even with similar import volumes. The crude bill dropped 13% YoY to $71.2 billion in April-October, helping reduce the overall import bill

Abu Dhabi hosts a major oil summit Monday, hours after the OPEC+ cartel and its allies said it would halt further production increases planned in the first quarter of 2026 over concerns of too much supply in the market. The OPEC+ decision comes as both the United States and the United Kingdom implemented new oil sanctions targeting Russia over its war on Ukraine. Those sanctions targets included Rosneft and the Russian oil company Lukoil, whose red-and-white logo hung over the annual Abu Dhabi International Petroleum Exhibition and Conference in the Emirati capital as a major sponsor of the event. The UAE has maintained close ties to Russia despite the war, but has served as a key interlocutor between Kyiv and Moscow to negotiate prisoner exchanges. On Sunday, OPEC+ met and decided to increase its production by an additional 1,37,000 barrels of oil beginning in December. However, it said other adjustments planned in January, February and March of next year would be paused due to ...

OPEC+ has agreed in principle on a 137,000 bpd increase, three OPEC+ sources said ahead of an online meeting scheduled for 1100 GMT on Sunday

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent in early trading, poised for a 5.6 per cent gain this month that would be the best in a year

OPEC+ has reversed its strategy of output cuts from April and has already raised quotas by more than 2.5 million barrels per day

OPEC+ will increase output by 137,000 bpd from October to regain market share, a move analysts say could push Brent crude below $65 and even $55 a barrel by year-end

Beginning April this year, Opec+ had been increasing production every month. The latest September production increase fully reversed the 2.2 million bpd voluntary cut

Key alliance members said they expect to approve adding about 137,000 barrels during a video call on Sunday, as the group led by Saudi Arabia and Russia begins unwinding next layer of halted supplies

Geopolitical developments are a primary driver of market uncertainty. The Trump-Putin talks could either ease concerns over US sanctions on Russian oil or escalate tensions if negotiations falter.

Oil prices hit five-week lows as markets await US sanctions decision on Russia. Tariffs on India, crude inventory draw, and Opec+ supply plans also influence Brent and WTI price movements

The Organization of the Petroleum Exporting Countries and its allies, together known as Opec+, agreed on Sunday to raise oil production by 547,000 barrels per day for September

Brent crude futures fell 91 cents, or 1.3 per cent, to settle at $68.76 a barrel, while US West Texas Intermediate crude declined by $1.04, or 1.5 per cent, to close at $66.29 a barrel

A group of countries that are part of the OPEC+ alliance of oil-exporting countries has agreed to boost oil production, a move some believe could lower oil and gasoline prices, citing a steady global economic outlook and low oil inventories. The group met virtually on Sunday and announced that eight of its member countries would increase oil production by 547,000 barrels per day in September. The countries boosting output, including Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, had been participating in voluntary production cuts, initially made in November 2023, which were scheduled to be phased out by September 2026. The announcement means the voluntary production cuts will end ahead of schedule. The move follows an OPEC+ decision in July to boost production by 548,000 barrels per day in August. OPEC said the production adjustments may be paused or reversed as market conditions evolve. When production increases, oil and gasoline prices ma

OPEC's demand forecasts are at the higher end of the industry range, as the agency expects a slower energy transition than some other forecasters

The forecasts for demand in 2026 through 2029 are all lower than last year. Demand will average 106.3 million bpd in 2026, OPEC said, down from 108 million bpd seen last year

Since April, OPEC and its partners have pivoted from years of output restraint to reopening the taps, surprising crude traders and raising questions about the group's long-term strategy

S&P expects global oil supply to exceed demand by 1.2 million b/d in H2 2025 and Brent to average $50-$60 per barrel as OPEC+ unwinds cuts and demand growth remains weak

Oil prices have rallied as a week-old air war between Israel and Iran escalated and uncertainty about potential US involvement kept investors on edge