OPEC News


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Case For Another Significant OPEC+ Cut is Weak
Thursday, December 01, 2022The case for another significant OPEC+ cut similar to October's is weak.

What Will OPEC+ Do Next?
Tuesday, November 29, 2022The Organization of Petroleum Exporting Countries and allies including Moscow meet this weekend to decide on output.

OPEC+ Seen Considering Deeper Output Cuts
Tuesday, November 29, 2022OPEC and its allies are expected to consider deeper supply curbs.

Oil Market Shows Extreme Sensitivity to OPEC+ Suggestions
Monday, November 28, 2022'The depth of the initial fall also demonstrates that some traders do not perhaps listen to some very specific statements carefully enough'.

Saudis Deny Report of Talks on OPEC+ Oil Output Increase
Monday, November 21, 2022Saudi Arabia denied a report that it is discussing an oil-production increase for the OPEC+ meeting next month.

What Happened in the Oil Market This Week?
Friday, November 18, 2022'Concerns over the global economy overtook potentially bullish geopolitical events this week'.

Main Oil Forecasters Have Very Different 2023 Demand Views
Friday, November 18, 2022The U.S. Energy Information Administration, the International Energy Agency and the OPEC Secretariat continue to have very different views.

Saudi Arabia Cuts Oil Exports
Thursday, November 17, 2022Saudi Arabia has cut oil exports sharply this month.

OPEC Cuts Oil Demand Outlook
Monday, November 14, 2022OPEC reduced its forecasts for global oil demand again.

Saudi Oil Chief Says OPEC+ Will Stay Cautious on Production
Friday, November 11, 2022Saudi Arabia's energy minister said OPEC+ will remain cautious on oil production, weeks after the group angered the US by lowering output.

IEA: OPEC+ May Need to Rethink Oil Output Slash
Wednesday, November 09, 2022The head of the IEA slammed the decision by OPEC+ to reduce oil output, saying it'll worsen the outlook for countries sliding toward a recession.

OPEC+ Cuts Could Bring On $100 Crude
Tuesday, November 08, 2022Oil's rise toward $100 a barrel is exposing some of the risks in OPEC+'s controversial production cuts.

Oil Set For Monthly Gain Ahead Of OPEC+ Output Cut
Monday, October 31, 2022Oil edged lower as weak economic data from China fanned concerns about energy demand, but it was still set for the first monthly advance since May on OPEC+'s planned supply cuts.

Namibia Will Consider Joining OPEC If It Has Big Oil Discoveries
Wednesday, October 26, 2022OPEC Secretary-General Haitham Al-Ghais last week predicted rapid growth for Africa.

Oil Market Traders Torn
Friday, October 21, 2022One of Rigzone's regular market watchers takes a look at oil price moves, diesel trends, weather patterns and more.

Analyst Looks at US-OPEC Relationship
Monday, October 17, 2022One of Rigzone's regular market watchers takes a look at the U.S.-OPEC relationship.

Top Headlines: Oil May Have Risen Too Far Too Fast and More
Saturday, October 15, 2022Check out some of Rigzone's top stories during the last week.

Energy Aspects Says Shale Oil Output Threatens to Peak in 2024
Friday, October 14, 2022Oil output from shale basins is at risk of peaking in just two years as drillers combat rising costs, analysts including Amrita Sen wrote in a note to clients dated Tuesday.

EIA Drops Oil Price Forecasts for 2022 and 2023
Friday, October 14, 2022The U.S. Energy Information Administration lowered its Brent spot average price forecasts.

OPEC+ Production Cut Angers United States
Wednesday, October 12, 2022Last week's decision by the OPEC+ countries to cut their headline production limit by 2Mn barrels per day provoked some anger in the US.

Putin Says OPEC+ Output Moves Not Targeted Against Anyone
Tuesday, October 11, 2022'Our actions, our decisions are not targeted against anyone'.

Goldman Sachs Labels OPEC+ Cuts Surprisingly Bullish
Tuesday, October 11, 2022Goldman Sachs analysts have raised their 4Q22-1Q23 forecasts 'conservatively' by $10 per barrel.

OPEC+ Cut Will Further Raise Tensions with the West
Monday, October 10, 2022'This has led to speculation that Washington may seek to further ramp-up pressure on the group, including via revival of the NOPEC bill'.

Top Headlines: Gasoline Prices May Take Another Hit and More
Saturday, October 08, 2022Check out some of Rigzone's top stories during the last week.

Brent Likely to Hit $100 Per Barrel by Year End
Friday, October 07, 2022Brent is likely to hit $100 per barrel by the end of the year, according to Rystad Energy.

White House Reacts to OPEC+ Move
Thursday, October 06, 2022U.S. President Joe Biden is disappointed.

Fitch Solutions Offers OPEC+ Prediction
Wednesday, October 05, 2022'We expect a substantial cut to be made'.

Novak Set to Attend OPEC+ Meeting
Tuesday, October 04, 2022Novak's physical presence in Vienna presents challenging optics for the European Union.

OPEC+ to Consider Cut of More Than 1MM Barrels
Monday, October 03, 2022OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates.

OPEC-Watchers Expect Steady Output
Thursday, September 01, 2022OPEC+ is expected to keep output steady when it meets next week.

Oil Price Rally Explained
Friday, August 12, 2022Rigzone's regular market watchers focus on the latest crude oil market moves, inventory trends, demand expectations and more.

OPEC+ Flags Severely Limited Availability of Excess Capacity
Thursday, August 04, 2022The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings.

OPEC+ Ministers Have Near Clean Sheet for September Policy
Wednesday, August 03, 2022For the first time in over a year, there is no pre-agreed target increase to rubberstamp.

New OPEC Secretary General Takes Office
Tuesday, August 02, 2022Haitham Al Ghais of Kuwait has taken office as Secretary General of the Organization of the Petroleum Exporting Countries.

OPEC Will Struggle To Balance Supply And Demand In 2023
Monday, July 18, 2022OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand.

First OPEC 2023 Outlook Shows No Relief from Oil Squeeze
Tuesday, July 12, 2022OPEC's first oil-market outlook for 2023 suggests no relief for squeezed consumers.

OPEC+ Close to Max Capacity
Tuesday, July 05, 2022OPEC+ is close to maximum capacity, BofA Global Research highlights.

OPEC+ Ratifies August Supply Hike
Thursday, June 30, 2022The 23-nation group led by Saudi Arabia rubber-stamped plans to add 648,000 barrels a day in August.

Top Headlines: Explosion at Texas LNG Plant and More
Saturday, June 11, 2022Check out some of Rigzone's top stories during the last week.

UAE Says Oil Prices Are Nowhere Near Peak Yet
Wednesday, June 08, 2022Oil prices are 'nowhere near' their peak.

Iran Might Get US OK To Flow More Oil Even Without Nuclear Deal
Monday, June 06, 2022The US may allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, according to Vitol.

Saudis To Make Oil-Output Hike But Keep Russia Close
Friday, June 03, 2022OPEC+ agreed to open its oil taps faster in the summer months, a gesture of reconciliation to the US that nevertheless keeps Russia at the heart of the cartel.

Lavrov Hails OPEC+ Cooperation
Wednesday, June 01, 2022Russia said Saudi Arabia hailed their oil-market cooperation in the OPEC+ alliance.

OPEC+ Seen Sticking With Supply Plan
Tuesday, May 31, 2022The OPEC+ coalition will likely hold firm to its oil production plans this week.

What is the Chance of NOPEC Succeeding?
Tuesday, May 24, 2022What is the chance of the latest NOPEC legislation, S.977, becoming law?

API Opposes NOPEC Legislation
Thursday, May 19, 2022'This legislation creates significant potential detrimental exposure to U.S. diplomatic, military and business interests'.

Top Headlines: Massive Heerema Thialf Vessel To Start Kinsale Head Removal
Saturday, May 14, 2022Check out some of Rigzone's top stories this week.

OPEC Antitrust Effort Revived by USA Senate
Sunday, May 08, 2022The so-called Nopec bill has been introduced many times over the past two decades.

OPEC+ Sticks to Small Supply Hike
Thursday, May 05, 2022OPEC and its allies once again ratified a small monthly increase in production.

OPEC Fails to Increase Oil Output
Wednesday, May 04, 2022The OPEC cartel effectively failed to increase output at all in April.