Page 54 - Pec News Today

OPEC+ said uncertainty surrounding the global economic outlook was a factor in its decision to cut daily production.

Get the latest news on OPEC, the Organization of the Petroleum Exporting Countries, an intergovernmental organisation founded in 1960.

Oil prices have declined for four straight months since June, as COVID-19 lockdowns in top energy consumer China hurt demand while rising interest rates and a surging US dollar weighed on global financial markets.

The Organisation of the Petroleum Exporting Countries (Opec) and its allies, known collectively as Opec+, is expected to cut output by more than one million barrels ...

The U.S. shale industry won’t step in to fill the gap left by an OPEC+ crude oil production cut, energy executives told Reuters on Tuesday

Oil prices started a new week and a new month with significant gains, as plans by OPEC+ to cut production drove bullish sentiment early on Monday morning

Opec+ considers cut of more than one million bpd; Interest rates and strong dollar weigh on markets; EU ban on Russian maritime oil trade looms

Danial Norjidi A newly launched energy report indicated that the Asia-Pacific Economic Cooperation (APEC) is on track to meet its aspirational goals to reduce energy intensity by 45 per cent by 2035, relative to 2005 levels, and to double the share of modern renewables by 2030, relative to 2010 levels. The APEC Energy Demand and […]

OPEC+, which combines OPEC countries and allies such as Russia, has for months refused to increase output to tame global oil prices.

The figure is slightly above estimates for a cut given last week, which ranged between 500,000 bpd and 1 million bpd.