OPEC Archives - Page 7 of 132

OPEC+ nears its limit, leaving prices one crisis away from a spike

October 8, 2025

(Oil Price)– The OPEC+ group continues to return modest volumes of supply to the market, cautious not to sink oil prices as demand weakens after the summer. The production hikes are estimated to be lower than the headline figures suggest—some producers lack the capacity to boost output further, while others are compensating for previous overproduction. While the lower-than-planned production increases

Iraq, Exxon sign agreement to help develop oilfield

October 8, 2025

(Investing.com)– Exxon Mobil signed an agreement with Iraq on Wednesday to help it develop its large Majnoon oilfield and expand its oil export infrastructure, marking a return to the country two years after leaving. OPEC’s second largest producer is looking to draw back Western oil majors and increase output constrained by years of war, corruption and sectarian tensions. Iraqi Prime Minister

Low oil prices: Saudi gift to Trump or ticking bomb?

October 7, 2025

(Oil Price)– OPEC+ yesterday agreed to yet another monthly boost in production, this time for a modest 137,000 barrels daily. Oil prices inched up, yet they remain tightly range-bound, with Brent at just over $65 per barrel following the news. On the one hand, this is good news for consumer countries—including the U.S. On the other hand, it’s bad news for

Oil rises after OPEC+ hikes output less than expected

October 6, 2025

(Investing) – NEW YORK -Oil prices rose by about $1 on Monday after OPEC+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains. Brent crude futures climbed $1.07, or 1.66%, to $65.60 a barrel by 12:52 p.m. EDT (1652 GMT), while U.S. West

Gulf countries respond to U.S. trade pressure with trillion dollar plans

October 3, 2025

(Oil Price)– Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term economic resilience, these nations have launched sweeping infrastructure

Oil prices head for weekly loss as market awaits November supply news

October 3, 2025

(Investing.com)– Oil prices were stable on Friday but were still headed for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply. Brent crude futures were up 29 cents, or 0.5%, at $64.40 a barrel by 1311 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.5%, at $60.75. For the week, Brent was trading

Oil prices sink to 4-month lows on oversupply concerns

October 2, 2025

(Investing.com)– Oil prices edged lower on Thursday, extending a run of declines into a fourth day, with Brent hitting its lowest since early June due to concerns about oversupply in the market. Brent crude futures fell 58 cents, or 0.9%, to $64.77 a barrel at 1309 GMT. U.S. West Texas Intermediate crude retreated by 57 cents, or 0.9%, to $61.21 a barrel, also

Goldman Sachs expects 140,000 barrels per day OPEC+ quota hike for November

September 30, 2025

(Investing.com)– Goldman Sachs expects OPEC+ to raise oil production quotas by 140,000 barrels per day for November, it said on Tuesday, ahead of the group’s meeting on Sunday. It said, however, a larger production hike was also plausible, citing factors including an only modest increase in OECD commercial stocks in Europe and Asia. Total inventories remain slightly below year-ago levels

The slow demise of Russian oil production

September 30, 2025

(Oil Price)– For most of the last decade, OPEC and Russia, collectively referred to as OPEC+, have aligned their interests in maintaining high oil prices and set production quotas that furthered this goal. Saudi Arabia, OPEC’s largest member, has, as part of its Vision 2030 Initiative, a multi-trillion-dollar goal of diversifying its economy away from dependence on hydrocarbons and uses

Crude oil prices plunge over 3% as OPEC+ signals more supply

September 29, 2025

(Oil Price) – Crude futures slumped on Monday, extending their biggest single-day slide in weeks as OPEC+ signaled it may press ahead with another round of output increases despite production shortfalls across the group. By 12:48 p.m. ET, benchmark contracts were down more than 3%, reflecting both cartel politics and shifting supply expectations. Brent crude was at $67.88 per barrel, a drop

Kazakhstan’s oil and condensate output rose 3% in August from previous month

September 26, 2025

(BOE Report) – Kazakhstan’s oil and condensate output rose to 8.885 million metric tons in August from 8.631 million tons in July, driven by production growth at Tengiz, Kashagan, and Karachaganak oilfields, official data showed on Friday. The August figure translates into 2.150 million barrels per day, according to Reuters calculations. Despite exceeding quotas set by the Organization of the

OPEC+ oil production hike may not be as steep as feared

September 26, 2025

(Oil Price) – The OPEC+ group is not hiking oil production as much as the headline figures in the agreement suggest, as some members are close to capacity while others are compensating for previous overproduction. This could come as a relief to the market, which expects a major oversupply later this year and early next year. The OPEC+ members have so

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