Tag: OPEC

• Wednesday, December 24th 2025 - 11:05 UTC

  Oil prices surge amid US-Venezuela standoff

  

  International oil benchmarks posted modest gains on Tuesday as the market entered a holiday-shortened week. Investors remained focused on the escalating geopolitical friction between Washington and Caracas, which has introduced a risk premium into an otherwise oversupplied market.

• Wednesday, August 6th 2025 - 10:17 UTC

  BP announces major oil discovery off Brazil, while OPEC+ with Saudi Arabia leading, increase production

  

  Britain’s BP oil and gas giant announced this week its biggest oil and gas discovery in 25 years off the coast of Brazil. This happens when the corporation is in the midst of a major overhaul, dropping the renewable energy strategy thrust, and returning to traditional hydrocarbons policy.

• Monday, July 14th 2025 - 06:54 UTC

  OPEC bans media outlets accused of advocating transition to “a net-zero economy”

  

  The Oil-price outlet is reporting that OPEC has refused accreditation for Reuters, Bloomberg, the New York Times, the Financial Times, and the Wall Street Journal for its meeting in Vienna, which is taking place this week.

• Monday, May 26th 2025 - 10:55 UTC

  Lower oil prices ahead, as OPEC+ targets removing US shale oil from global markets

  

  OPEC+ are expected to announce another bigger than initially planned production hike at its next meeting, 9/10 July, allegedly with the purpose of having Iraq and Kazakhstan comply with their quotas, but according to a Reuter’s report the target is to knock out the US shale production.

• Wednesday, February 19th 2025 - 09:13 UTC

  Brazil announces plans to join OPEC+

  

  Brazilian authorities announced Tuesday the South American country's decision to join the Organization of 13 Petroleum Exporting Countries (OPEC) and 10 observer nations, commonly referred to as OPEC+. According to Mines and Energy Minister Alexandre Silveira, the move would in in line with Brazil's goals and would not collide with its environmental commitments. Brazil will participate in the OPEC Cooperation Charter, a forum for discussing oil market strategies without binding obligations to follow cartel policies like production cuts.

• Tuesday, December 26th 2023 - 08:20 UTC

  Angola quitting OPEC over dispute about oil production quotas

  

  Angolan official media have reported from Luanda that Angola is leaving OPEC, following a meeting of the Council of Ministers, let by the president of the country, Joao Lourenco.

• Tuesday, October 3rd 2023 - 20:09 UTC

  Despite Saudi Arabia's oil cut, OPEC+ production has increased boosted by Iran and Nigeria

  

  Oil prices started to gradually recover during July, from a depressed second quarter, with the OPEC+ production cuts and the additional one million bpd reduction from the Saudi Arabia wells.

• Tuesday, December 6th 2022 - 08:17 UTC

  US gasoline prices at the pump could fall under US$ 3 per gallon by Christmas

  

  United States gasoline prices have declined on average 16 cents to US$ 3,403 a gallon, while gas prices have declined 43 cents over the past 30 days, and are US$ 1.01 cents higher than a year ago.

• Thursday, October 6th 2022 - 09:38 UTC

  OPEC+ puts pressure on western countries with strict output cut

  

  The price of gas at pumps for drivers worldwide might soon go up once again after OPEC+ countries at a meeting in Vienna agreed on to deepest production cut since the Covid-19 pandemic.

• Monday, September 5th 2022 - 18:31 UTC

  OPEC to cut down oil output to keep price stable

  

  The Organization of Oil Exporting Countries (OPEC) Monday decided to cut their output of crude and put on sale on international markets 100,000 bpds less daily as fears of a recession keep bringing down the price of crude.