OPEC oil output rose in May, a Reuters survey found, although the increase was limited as Iraq pumped below target to ...

LONDON (Reuters) -OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the ...

LONDON (Reuters) - OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next year, marking the ...

Reasons include higher interest rates, concerns about demand due to slower than desired economic growth in Europe and China, and rising non-OPEC supply including from U.S. shale producers.

Last month, OPEC, a group of oil exporting developing nations, lowered the cap on Angola’s oil production. Now, the country says it will leave OPEC. Oil production in Angola has been falling for ...

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File Photo LONDON, Dec 21 (Reuters) – Angola has said it is ...

OPEC's primary goal is to maximize profits from oil exports, often conflicting with the objectives of oil-importing countries. The organization faces challenges in balancing high oil prices with ...

The head of OPEC wrote a letter to its members and urged them to reject any COP28 deal that targets fossil fuels, as seen by Reuters today. Reuters says that three sources confirmed the letter’s ...

OPEC announced the development after a virtual ministerial meeting Thursday, when several Plus alliance members also announced further production cuts. “The Meeting welcomed HE [His Excellency ...

It has dropped even as producers in OPEC Plus, a bigger group that includes Russia, have cut production, but the coming months seem unlikely to give oil producers a respite from this squeeze.

Aldo Pavan / Getty Images OPEC raised its estimate for medium- and long-term demand for oil, and said trillions of dollars in spending would be needed to keep up with that higher demand.

June 28 (Reuters) - OPEC has withheld media access to reporters from Reuters, Bloomberg and the Wall Street Journal to cover a meeting of oil industry CEOs with energy ministers from OPEC and its ...