Organization of the Petroleum-Exporting Countries (OPEC)

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OPEC+ may meet early due to coronavirus?

OPEC and non_OPEC members are considering holding an emergency meeting in February, OPEC President, Algerian Energy Minister Mohamed Arkab said. As oil prices sink on concern the coronavirus outbreak will hit …

OPEC expects lower global demand for oil

OPEC said it expects lower demand for its crude oil in 2020 even as global demand rises. The United States will see total liquids output exceed a 20 million barrel per day (bpd) milestone for the first time, the OPEC forecast in …

Novak comments on next OPEC+ meeting date

Russian energy minister Alexander Novak said Moscow is still committed to OPEC+ meeting in March to decide on future production policies. "No one approached us officially or unofficially... We’re …

Russia may pull out of OPEC+ in 2020

The OPEC+ may consider wrapping up their oil output reduction in 2020, Russian Energy Minister Alexander Novak told Rossiya 24 TV. "As far as the production cuts are concerned, I repeat once again, this is not …

OPEC, allies agree to deepen oil output cuts

Oil producers led by Saudi Arabia and Russia agreed on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March, Reuters reports. The countries involved pump …