West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $67.17 per barrel, ...

Growing supply from the OPEC+ group, although not as high as the monthly headline figures suggest, is set to create an ...

OPEC Plus, the group of major oil producers, said it would continue its recent cuts in output, but Saudi Arabia said it would cut further for at least a month.

OPEC raised its forecasts for world oil demand in the medium- and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite ...

Unlike with OPEC nations, US oil production is supposed to be decided by the free market, not by coordination among the major players. Sheffield retired in December 2023 as CEO of Pioneer.

OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group's leader Saudi Arabia seeks to ...

Oil giants are reporting lower profits. But on Saturday, eight countries that belong to the oil cartel known as OPEC Plus said they would add about 411,000 barrels of oil a day in June.

Despite the rise of renewables, OPEC’s view is that oil will continue to play a critical role in meeting the world’s energy needs for the foreseeable future. By Julianne Geiger for Oilprice.com ...

OPEC and allies, known as OPEC+, have been unwinding record output cuts agreed in April 2020, as demand and the economy recover. With oil prices rising to a 2 1/2-year high, OPEC+ decided this ...

Oil cartel OPEC and its allies are cutting production. And that means oil prices are likely going up. The OPEC+ alliance says they're trying to support prices against future sagging demand from an ...

We’re going to need oil and natural gas for the foreseeable future, but we don’t have to be dependent on OPEC. The oil cartel has imposed a “tax” on the world for long enough.

Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the ...