Growing supply from the OPEC+ group, although not as high as the monthly headline figures suggest, is set to create an ...

The last oil price war has indebted, but not reduced U.S. shale production, while costing OPEC members $450 billion in lost revenues.

In a statement posted on its website recently, OPEC said it “welcomes the decision approved … by the National Energy Council of the Federative Republic of Brazil (CNPE) that formally paves the ...

World oil demand will soar by almost 18 million barrels per day to 120.1 million bpd by 2050, up from 102.2 million bpd in 2023, driven by demand growth in non-OECD nations, Opec said in its ...

Oil prices declined due to perceived global economic slowdown and conflicting supply/demand forecasts from EIA, IEA, and OPEC, creating market distortions. Read more here.

OPEC+ The cartel has failed to prop up oil prices by cutting production, in part because non-OPEC nations like the US, Brazil, and Guyana have kept filling the hole.

OPEC Plus treads carefully as economic head winds keep oil prices down, with a decision that's unlikely to cause a significant swing in pump prices for U.S. drivers.

Brazil and Guyana are ramping up offshore oil production along with US shale. Altogether, non-OPEC output could rise by 1.9 million barrels a day, according to the EIA.

OPEC has raised its 2023 global oil demand growth forecast in its first upward revision for months, due to China's relaxation of COVID-19 restrictions, and trimmed supply forecasts for Russia and ...

The global benchmark was trading just below $93 on Thursday, up about 11% from the recent low. Typically, higher oil prices send non-OPEC producers into action, particularly US shale companies.

OPEC announces sharp cut to global oil production The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal ...

Energy ministers meeting at the Vienna headquarters of the OPEC oil cartel cut production by 2 million barrels per day at their first face-to-face meeting since the start of the COVID-19 pandemic.