Organization of the Petroleum-Exporting Countries (OPEC)

Lukoil CEO calls for permanent OPEC deal

Russian oil producer Lukoil's chief executive Vagit Alekperov said that the oil output deal between OPEC and its allies should stay in place permanently. Speaking at Lukoil's annual general meeting in Moscow, he …

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What to expect from OPEC+ meeting in July?

OPEC has agreed to move its next meeting to July 1, followed by a meeting with non-OPEC allies on July 2, according to new dates posted on the website of the Organization of the Petroleum Exporting Countries. OPEC and allies were …

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Novak: Russia open to new dates for OPEC+ meeting

Russian Energy Minister Alexander Novak said that Russia was open to new dates for a meeting of OPEC+ nations, including on July 12. Novak noted that he had not yet discussed a change in meeting dates with his …

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IEA: oil output from OPEC falls in May

Oil output from OPEC fell in May by 230,000 barrels per day to 29.95 million bpd, hitting a five-year low, according to data from the International Energy Agency (IEA). In May, top OPEC producer Saudi Arabia’s output fell by …

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Azerbaijan increases natural gas exports

Azerbaijan’s natural gas exports showed a 28% increase year-on-year rising from 8.030 billion standard cubic meters in 2017 to 10.276 billion standard cubic meters in 2018, according to OPEC Annual Statistical Bulletin. The report …

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Iran has no intention of withdrawing from OPEC

Iranian Oil Minister Bijan Zanganeh stated in an interview released by news site ICANA on Saturday that Iran was not planning to abandon the Organisation of the Petroleum Exporting Countries (OPEC). …

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Iraq expects OPEC+ deal to be extended

Iraqi Oil Minister Thamer Ghadhban said that OPEC and its allies were most likely to extend their global oil output deal until the end of the year when they hold their policy meeting in coming weeks. The minister …

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Iran opposes moving OPEC+ next meeting to July - media

Iran has told OPEC that it opposes delaying the oil producer group’s next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented economic pressure with its oil exports down to just …

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