Crude oil gained around 2.5% on Monday after OPEC+ reported that it intends to delay the cartel's production quota increase by one month from December. The November 2023 agreement calls for eight ...

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In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025.

Today, reporter Kevin Crowley looks at how Big Oil is challenging OPEC. Meanwhile, the UK wants to reclaim weapons used to protect Russia’s oil fleet. To get this newsletter in your inbox ...

In June, OPEC said 2.2 million barrels a day in voluntary cuts were extended until September but would then be gradually reduced month by month until they are eliminated by September 2025.

according to a statement posted on OPEC’s website on Sunday. They had already postponed the restart from October as faltering demand in China and swelling supplies from the Americas pressure prices.

Oil prices were up by over 2.5 per cent by 1030 GMT on Monday. “As soon as (Opec) say we’re going to release some production, the price went down immediately. Now they say we postpone until the end of ...

The head of oil producer alliance OPEC brushed off what he called "pessimistic" forecasts of dwindling crude demand in the coming year. OPEC expects oil demand growth at 1.9 million barrels a day ...

ING and other forecasters had assumed the Saudis and OPEC would rather risk even lower prices with additional supply in order to regain market share. This clearly wasn’t the case. Therefore ...

Oil prices were up by over 2.8% by 1216 GMT on Monday. "As soon as (OPEC) say we're going to release some production, the price went down immediately. Now they say we postpone until the end of the ...

“Concerns that OPEC was poised to oversupply a fragile market have been weighing significantly on sentiment,” RBC Capital Markets LLC analysts including Helima Croft said in a Nov. 3 note. “A ...