Iran, Kuwait and Libya called on fellow OPEC members on December 18th to reduce ... $22 a barrel for 10 consecutive working days, a production cut of 500,000 b/d will automatically be triggered.

Opec-plus’ crude average production averaged 40.81 million b/d, a decline of 1.18 million b/d compared with 2023.

The Organisation of Petroleum Export Countries (OPEC) has disclosed that Nigeria surpassed its December quota, with oil ...

FRANKFURT, Germany (AP) — Eight members of the OPEC+ alliance of oil exporting countries decided Thursday to put off increasing oil production ... of the cost. OPEC has cut its forecast for ...

Due to high production growth from the U.S., Canada, and Guyana over the past three years, OPEC has chosen to cut output to support ... OPEC's largest member, requires an oil price of $96 to ...

OPEC’s crude production dipped last month as the United Arab Emirates stepped up implementation of supply cutbacks aimed at ...

Several OPEC+ members will also be postponing the unwinding of a second 1.7-million-barrels-per-day cut until the end of 2026. This latter production decline was previously only set to last ...

FRANKFURT, Germany (AP) — Eight members of the OPEC+ alliance of oil exporting countries decided Thursday to put off increasing oil production ... of the cost. OPEC has cut its forecast for ...

Members are losing market share by postponing production ... OPEC has clung to expectations that demand will recover in 2025. However, on Wednesday, the group made its deepest cut to its demand ...