Page 3 - Opec Output

Oil prices rise as investors weigh Opec+ discussions, Trump tariffs

Key Opec+ nations have begun discussions to delay an oil production restart planned for January, potentially for several months

Russian oil output broadly stable in Oct at 9.01 mn barrels per day: Opec

This was slightly above the quota agreed by the Opec+ group of leading oil producers, which includes Opec and allies such as Russia

Opec cuts forecast for 2024 oil demand growth, lowers projection for 2025

The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 1.82 million barrels per day in 2024, down from 1.93 million bpd it expected last month

Oil buyers, producers dialogue needed for market stability: Hardeep Puri

He said technological changes such as green hydrogen and the transition to cleaner energy will change the global oil demand landscape in five years

Oil prices rise on reports of Opec+ delaying plans to boost output

Brent crude futures gained $1.41, or 2 per cent, to $72.53 a barrel by 1236 GMT. US West Texas Intermediate crude futures edged up $1.34, or 2 per cent, to $68.55 per barrel

Opec+ ministers stick to output policy, doubles down on compliance

OPEC+ is cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand, in a series of steps agreed since late 2022

Opec+ unlikely to recommend changes in output policy at Oct 2 panel meeting

Oil prices have fallen in 2024 with Brent crude last month slipping below $70 a barrel for the first time since 2021, pressured by concern about global demand and rising supply outside Opec+

Want Opec+ to raise oil output to meet demand, says oil secretary

The Organization of the Petroleum Exporting Countries (Opec) and allies, together called Opec+, last week agreed to delay a planned oil output increase for October

Opec+ may agree to delay October oil output hike for two months: Report

The news lifted oil prices by over $1 a barrel, with Brent futures trading over $74 before paring gains. It fell to its lowest this year on Wednesday

Crude oil strategy for June 11: Trend remains weak, WTI eyes support at $76

Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2

Opec oil output increases in May, led by Nigeria, Iraq, survey shows

Several members of Opec+, which includes Opec, Russia and other allies, made new cuts in January to counter economic weakness and increased supply outside the group

Further output cut by Opec+ may not affect India's oil supply: Officials

Officials said that temporary fluctuations in oil price as a result of soaring logistics costs and piracy risks may affect Indian oil supplies more

Oil prices up on prospect of Opec+ holding cuts, weaker US dollar

For the online meeting of OPEC+ oil producers coming up on Sunday, traders and analysts are predicting 2.2 million barrels per day of voluntary production cuts to stay in place

Opec+ producers could extend oil cuts, formal talks yet to start: Report

The OPEC+ group is currently cutting output by 5.86 million bpd, equal to about 5.7% of global demand

Oil prices decline for third day as US crude production, inventories swell

US crude oil inventories swelled last week by 4.906 million barrels, while gasoline and distillate stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday

Oil consolidates gains amid concerns of worsening Middle East conflict

US Secretary of State Antony Blinken has told Israeli Defense Minister Yoav Gallant that the United States will stand with Israel against any threats by Iran

RBI wants inflation elephant in the forest. Can pricier oil bring it back?

After witnessing sustained moderation, cost push pressures faced by firms, the RBI said, are showing upward bias

Opec+ ministers agree on keeping oil output policy steady: Reports

OPEC+ members, led by Saudi Arabia and Russia, last month agreed to extend voluntary output cuts of 2.2 million barrels per day (bpd) until the end of June to support the market

Oil gains on expectations for higher demand as Middle East concerns rise

Opec's output fell last month by 50,000 bpd, indicating the voluntary cuts are having some effect

Opec+ production cuts deepen with extensions from Saudi, other oil giants

Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts. Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organisation noted Sunday. Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024's second quarter. The extension, which was first shared by the state-owned Saudi Press Agency citing a Energy Ministry source, means the kingdom's crude production will stand at about 9 million barrels a day through the end of June. Also on Sunday, Russia announced an additional voluntary cut of 471,000 barrels per day for the second quarter across a blend of production and exports. Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will be continuing reductions as well, according to OPEC's secretariat, in smaller amounts. The OPEC+ countries ...