An oil port at Ras Tanura, Saudi Arabia, in 2018. The kingdom and seven other members of the OPEC Plus oil cartel will ramp up oil production by 411,000 barrels a day in July.

Producer group OPEC and the International Energy Agency, the world's most closely watched forecasters of oil demand growth, are further apart than they have been for at least 16 years in their ...

OPEC predicted robust fuel use in the summer months on Thursday and stuck to its forecast for relatively strong growth in global oil demand in 2024, highlighting an unusually large gap between ...

Saudi Arabia, the de facto leader of OPEC Plus, is signaling that it is reluctant to hold back millions of barrels a day of oil that it could produce, especially when other members of the group ...

OPEC has not invited Reuters or Bloomberg news agencies to report on ministerial meetings in Vienna this weekend to discuss future oil policy, according to reporters, Bloomberg and an OPEC source ...

OPEC-Plus’s plan to hike production by 411,000 barrels of oil per day in July comes after its recent daily increases totaling 530,000 barrels for the purpose of curbing American production and ...

OPEC has a very different agenda than Trump and is not going to do what he wants just because he asks nicely.. One of President Trump’s first orders of business following the initial burst of ...

OPEC agrees to keep oil production cut, likely maintaining high prices through November election Saudi Arabia has ambitions to diversity its economy away from fossil fuel exports ...

OPEC forecasts that world consumption will swell by 2.2 million barrels a day this year — almost 50% higher than the rate anticipated a few months ago by Saudi Arabia’s state-run oil company.

But OPEC has cut that robust projection in each of the last four months as those factors have not come about. The current forecast for 2024 in OPEC’s November report stands at 1.82 million bpd ...

The OPEC oil cartel and the IEA, the International Energy Agency created in response to the Arab oil embargo in the 1970s, have grown so far apart in their forecasts of global oil demand and ...