OPEC

The OPEC+ alliance first unveiled its plans for gradually reviving production in June last year, but with oil demand growth slowing in China and new supplies across the Americas swelling

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 1.45 million barrels per day (bpd) in 2025 and by 1.43 million bpd in 2026

Investors are also looking ahead to a ministerial meeting by the Organization of the Petroleum Exporting Countries and its allies, together called Opec+, scheduled for Feb 3

Opec and its allies including Russia have yet to react to Trump's call, with Opec+ delegates pointing to a plan already in place to start raising oil output from April

US President Donald Trump has asked the Organization of the Petroleum Exporting Countries to cut the prices of oil, arguing that it would stop the Russia-Ukraine war. He had made a similar claim earlier, too. Addressing the annual World Economic Forum at Davos in Switzerland via video conference, Trump accused the OPEC+ alliance of oil-exporting countries of being responsible for the nearly three-year conflict in Ukraine. "We want to see OPEC cut the price of oil. That will automatically stop the tragedy that's taking place in Ukraine. It's a butchering tragedy for both sides," the US President told reporters in North Carolina on Friday. Noting that a large number of Russian and Ukrainian soldiers have died in the conflict so far, Trump said, "Right now, it's just bullets whacking and hitting men. There are over a million men killed, and they are losing thousands of people a week." "It's crazy. It's a crazy war and it never would have happened if I was president (then). This is

As Indian companies begin talks with Saudi Arabia and Abu Dhabi this week, traders say discussions between refiners and the OPEC producers will be tense

India imported 4.84 million barrels per day of oil in 2024, up 4.3% from the previous year, the data showed

Opec, in a monthly report, said demand will rise by 1.43 million barrels per day in 2026, a similar rate to the growth of 1.45 million bpd expected this year

The world's top oil exporter Saudi Aramco announced its first crude oil price hike in three months

Amid the shifting sands of geopolitics, Russia remained India's top crude oil supplier accounting for 35 to 40 per cent of total imports

The accord comes as China's solar industry contends with overcapacity, heightened geopolitical tensions and slowing demand

Earliest reversal of production cuts pushed back to March 2025 on Thursday

Opec+ is likely to extend its latest round of output cuts until the end of the first quarter at its Dec 5 meeting

OPEC+, which includes members of the OPEC and allies such as Russia, is discussing a further delay to a planned oil output hike that was due to start in January

Israel said on Monday it is moving toward a ceasefire in the war with Hezbollah but there are still issues to address

The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise by 1.82 million barrels per day in 2024, down from 1.93 million bpd it expected last month

The OPEC+ group, combining the Organization of the Petroleum Exporting Countries plus Russia and other allies, was scheduled to raise output by 180,000 barrels per day in December

Opec in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month

Oil prices have fallen in 2024 with Brent crude last month slipping below $70 a barrel for the first time since 2021, pressured by concern about global demand and rising supply outside Opec+

Global oil demand is experiencing its slowest growth since 2020, primarily due to weak demand from China and a drop in Russia's global oil supply