OPEC
- Middle East
What is Strait of Hormuz and why does its closure matter to global economy?
Kingston (Canada): The joint attack launched by the United States and Israel on Iran began on February 27 and has sparked a fast-moving conflict that could expand across the Middle East. Iran’s…
- Middle East
87 years ago today, Saudi Arabia struck oil
Exactly 87 years ago, Saudi Arabia witnessed a historic breakthrough when an American-owned oil well in Dhahran struck a massive petroleum reserve on March 3, 1938. The discovery marked the beginning of…
- World
OPEC+ members extend voluntary oil output cuts by one month
Vienna: Eight member countries of the OPEC+ oil-producing group have announced to further extend their voluntary output cuts by a month, pushing the reductions through the end of December in response to…
- Top Stories
OPEC+ members extend oil output cuts to Q2
Vienna: Several OPEC+ members have announced extensions of oil output cuts into the second quarter to support the “stability and balance of oil markets”. OPEC+ is an oil-producer group comprising member countries…
- World
Oil prices rise as OPEC plus cartel nears deal on production cuts
New Delhi: Crude oil prices have started firming up again in the international market as the OPEC+ cartel is reported to be on the verge of signing an agreement to cut production…
- Middle East
Saudi Arabia to continue voluntary oil cuts till year-end
Riyadh: The Kingdom of Saudi Arabia (KSA) will continue with one million barrel per day voluntary crude oil production cut until the end of the year, the Saudi Press Agency reported on…
- World
Oil prices could go even higher
London: Oil prices have soared about 20 per cent since late June but they could go even higher this year if the OPEC+ alliance sticks to its policy of restraining crude production,…
- Middle East
Saudi to extend one million bpd oil production cut until Sept
Riyadh: The Kingdom of Saudi Arabia (KSA) announced on Thursday, August 3, that it will extend its voluntary oil production cut of one million barrels per day (bpd) for another month to include September,…
