The Secretary General of OPEC told the Global Energy Show in Calgary that energy demand is expected to increase by 24 per cent by the year 2050.

The global oil market is keeping a close eye on the Organization of Petroleum Exporting Countries (OPEC), which is unwinding output cuts at a faster rate than originally planned to punish over ...

OPEC oil output rose in May, a Reuters survey found, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the United Arab ...

OPEC has announced plans to increase output at about 400 kb/d each month from June to October 2025, which would increase output by about 2000 kb/d and reduce OPEC spare capacity to only 339 kb/d ...

OPEC’s crude oil production in May increased less than called for in the OPEC+ agreement.

OPEC head lashes out at net-zero targets, tells Calgary audience oil demand will keep growing Criticizes IEA prediction of peak demand by 2030 in keynote speech at the Global Energy Show Canada ...

OPEC left its forecasts for global oil demand growth unchanged in 2025 and 2026, after reductions in April. Alexander Manzyuk/Reuters ...

The OPEC Fund For International Development has pledged to provide more than $1bn in funding to Africa and developing countries elsewhere as part of a broader $2bn pledge by Arab nations over the next ...

“In a possible sign that the unwinding of OPEC+ production cuts could increase seaborne volumes, the combined crude tanker loadings of OPEC countries has jumped 24% week-on-week to 2.281 million ...

Last month, following a collapse in the price of Brent crude to a four-year low, Saudi Arabia and its OPEC-plus partners announced their second consecutive monthly supply hike. Doubtless this will ...

Fears that Israel may destroy Iranian oil facilities to deprive it of its main source of revenue have driven oil prices higher.

Al-Ghais said OPEC takes climate change “very, very seriously,” but expressed concern over net-zero targets he called “unrealistic,” “fixated on deadlines” and “detached from reality.” ...