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In a surprise move, OPEC+ slashes oil production by 1.6 million barrels a day starting in May.

Eight OPEC+ countries on Sunday agreed to raise oil output in November by 1,37,000 barrels per day.

Jan 4, 2026 - The decision follows oil prices falling by more than 18 percent in 2025—the highest yearly drop since 2020.

Kuwait follows suit with additional cut of 80,000 bpd

Goldman Sachs raises its forecast for Brent to trade at $95 a barrel by the end of 2023 from a previous $90 estimate and projects it at $100 in 2024

[NEW YORK] Oil prices surged 4 per cent to a three-week high on Monday, bolstered by growing conviction that major oil producing countries would agree next...

While OPEC+‘s strategy has contributed to a supply glut that weighed on crude prices and effectively eroded some of the group’s profits, experts say a mix...

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Landmark report on carbon budgets and climate goals says Exxon and ConocoPhillips must trim the most, Shell the least.

Oil prices fell on Thursday after OPEC said its production had risen to the highest level in at least eight years and following reports of an increase in U.S....

OIL prices rose about 1 per cent on Thursday, holding at three-week highs after Opec+ agreed to tighten global supply with a deal to cut production targets by...

The producing group will agree concrete levels of production by each country at its next formal meeting

Brent, the international benchmark, was down 20 cents at $43.10 a barrel

WION (World Is One News) brings latest & breaking news from South Asia, India, Pakistan, Bangladesh, Nepal, Sri Lanka and rest of the World in politics,...

[VIENNA] Opec sought Wednesday to defy expectations and finalise a deal reducing its oil output for the first time in eight years, in an effort to boost...

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Jan 5, 2026 - Caracas is in political crisis under an interim government after President Nicolas Maduro and his wife were captured by US forces on Saturday. The OPEC...

[VIENNA] Opec officials dismissed comments from Wall Street bank Morgan Stanley on Monday that the Organization of the Petroleum Exporting Countries may raise...

Officials say country losing about 800,000 barrels a day due to incessant attacks, disruption of production in Niger Delta

Oil prices have dropped below $60 per barrel as fears of a global recession outweigh concerns about falling supply.

Jan 5, 2026 - FTI and analysts say US control of Venezuela may cap oil. Brent may rise slightly short term, but higher output after sanctions lift could push prices down.

Iraq asked international oil companies operating some of its biggest fields in the south to cut their output for the country to adhere to the OPEC+ quota...

The cost of oil reportedly went up after the Kingdom had decided to extend the voluntary cut in oil production by 1 million barrels per day through September

May 5, 2025 - Oil prices slumped again Monday, just days after OPEC+ announced it would accelerate production for the second month in a row, putting further pressure on

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Russian President Vladimir Putin said Moscow is ready to cut or freeze oil production and supports the OPEC oil cartel's efforts to bolster prices, in comments...

An earlier decision by OPEC+ to cut oil production by 2 million barrels per day - or 2 per cent of global demand - angered the US and other Western nations,...

Members are set to keep production ceiling unchanged with prices having stabilised and competition abated