The Gulf Arab states have cut production because they are unable to export through the Strait of Hormuz due to the war.

・Oil production in October slipped by 73,000 bpd to 43.02 million barrels per day. ・OPEC reaffirmed its forecast of global oil demand growth of 1.3 million barrels per day this year. ・OPEC trimmed ...

Oil markets appear to be entering another turning point. OPEC’s recent decision to gradually raise production over the coming quarters has stirred the energy landscape. For Chevron Corporation (CVX), ...

The Organization of the Petroleum Exporting Countries (OPEC) has disclosed that Nigeria’s crude oil output, excluding ...

OPEC members have agreed to keep oil production at current levels at least through the peak demand season, but the possibility of a cut in February sent prices to more than $62 a barrel. The 11-nation ...

OPEC on Sunday agreed to boost oil production by another 206,000 barrels daily, which will be theoretical only as production in the Middle East remains constrained by the Strait of Hormuz crisis. The ...

OPEC said its crude oil production plunged by 7.89M bbl/day in March to 20.79M barrels due to the near-shutdown of the Strait of Hormuz and kept its full-year overall demand outlook steady.

'We ... expect OPEC to implement cuts to avoid a large increase in inventories in Q1-26', SEB Chief Commodities Analyst Bjarne Schieldrop said. Image by William ...

Crude oil production by the Organization of the Petroleum Exporting Countries (OPEC) fell by around 7.9 million barrels per ...

Here’s a look at the Organization of the Petroleum Exporting Countries, headquartered in Vienna, Austria. Facts The purpose of OPEC is to “coordinate and unify the petroleum policies of its Member ...

Oil prices jumped more than 7% above $100 a barrel after the U.S. Navy moved to blockade the Strait of Hormuz, while OPEC cut ...