OPEC is pursuing a long-term strategy to increase its market share and is unwinding production cuts, with oil prices remaining strong due to factors beyond OPEC's direct control. The rise in oil ...

Eight producers, led by Saudi Arabia, will continue boosting production despite forecasts that supply will soon exceed demand. By Stanley Reed Eight countries that belong to the oil cartel known as ...

Many groups, including the International Energy Agency, predict that the world’s peak oil production is close, and global oil demand will drop starting in the next decade as more renewables come ...

OPEC increased its global oil demand growth estimate for 2026 to 1.38 million barrels per day, citing stronger economic performance in key regions. The cartel also revised down its forecast for ...

April 3 (UPI) --Eight OPEC oil-producing nations Thursday agreed to boost crude oil production beginning in May. OPEC said in a statement that Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, ...

LONDON, July 15 (Reuters) - OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries' crude intake would remain elevated to ...

VIENNA, July 10 (Reuters) - OPEC cut its global oil demand forecasts for the next four years on Thursday as Chinese growth slows, even as it lifted its longer-term view, based on rising consumption in ...

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