Browsing: OPEC

CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate…

OPEC+ to raise oil output by 411,000 bpd in May as market outlook strengthens, maintaining flexible adjustment plans.

Oil prices slipped as Brent crude dropped 3%, pressured by a sharp rise in US crude stockpiles and the OPEC+ decision to increase production.

Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility.

Oil prices surged to multi-month highs as US crude stockpiles fell for the sixth straight week, boosting WTI and Brent amid tightening supplies and bullish technical trends.

Saudi Arabia’s non-oil economy grew 4.9% in Q2 2024, powered by financial and insurance gains, supporting the Kingdom’s Vision 2030 focus on reducing oil dependence.

OPEC chief highlights the synergistic roles of oil and electrification in the global energy mix.

The UAE sees continued economic growth in non-oil sectors like real estate, tourism, and manufacturing, according to OPEC’s latest report.

OPEC projects 2.25M bpd surge in global oil demand for 2024-2025. Robust outlook amid geopolitical tensions.

In a pivotal move, OPEC+ members, responsible for over 40% of global oil supply, have agreed to substantial voluntary production…