All the updated news related to opec

All the news related to opec updated in real time

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World

The Opec+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices. Energy ministers meeting at the Vienna headquarters of the Opec oil cartel cut production by a larger-than-expected two million ...

05 Oct 2022 at 18:00

World

Opec and allies to boost oil output by slower pace than previous months

The Opec oil cartel and its allies have decided to boost production in September by a much slower pace than in previous months at a time of high oil prices and unstable energy supplies exacerbated by the war Russia has waged in Ukraine. Opec,...

03 Aug 2022 at 17:49

Ukraine crisis sends oil prices surging to 10-year high

The cost of crude has soared to its highest level for 10 years as Russia’s invasion of Ukraine continues to send gas and oil prices rocketing. Brent crude – the international standard – jumped close to 120 US dollars a barrel at one stage, ...

03 Mar 2022 at 10:55

World

UAE energy chief doubles down on Opec alliance with Russia

The United Arab Emirates’ energy minister has doubled down on an oil alliance with Russia that has helped buoy crude prices to their highest in years as Moscow’s war on Ukraine rattles markets and sends energy and commodity prices soaring....

28 Mar 2022 at 11:25

World

Opec maintains oil targets amid uncertainty over Russian sanctions

The Saudi-led Opec oil cartel and allied producers including Russia have not changed their targets for shipping oil to the global economy amid uncertainty over the impact of new western sanctions against Russia that could take ...

04 Dec 2022 at 14:15

World

Opec+ oil producers face uncertainty over Russian sanctions

The Saudi-led Opec oil cartel and allied producing countries, including Russia, are expected to decide how much oil to supply to the global economy amid weakening demand in China and uncertainty about the impact of new ...

04 Dec 2022 at 13:03

World

UAE state oil firm brings net zero climate target forward to 2045

A state-run oil giant in the United Arab Emirates has said it has moved up its target for achieving net zero emissions in its operations to 2045, as the country prepares to host UN climate talks later this year. The ...

31 Jul 2023 at 14:01

Pump price of unleaded petrol climbs to highest level this year

The price of petrol on UK forecourts has risen to its highest level so far this year, figures show. The average pump price of a litre of unleaded petrol stood at 151.7p as of September 4, up from 150.7p the ...

05 Sept 2023 at 13:00

World

Oil producers announce surprise cuts in move which could force up prices

Saudi Arabia and other major oil producers announced surprise cuts on Sunday totalling 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Higher oil ...

02 Apr 2023 at 19:03

World

Saudi Arabia risks angering US as it announces cut in oil production

Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023. Higher oil prices would help fill Russian president Vladimir Putin’s coffers as his country wages ...

02 Apr 2023 at 18:18

Oil prices surge after Opec+ production cuts

Shares in London’s biggest oil companies spiked on Monday morning after a weekend decision from some of the world’s biggest oil-producing countries to slash output. Shell and BP saw their share prices ...

03 Apr 2023 at 11:04

Gordon Brown: States that profited from oil surge should pay global windfall

States which banked “staggering” profits from the high price of oil last year should pay a global windfall levy to help poorer nations in the fight against climate change, former prime minister ...

25 Sept 2023 at 06:00

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