OPEC News


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Top Headlines: Aramco Awards Deals Worth $10B and More
Saturday, December 04, 2021Check out some of Rigzone's top stories this week.

Bears Out in Full Force This Week
Friday, December 03, 2021Rigzone's regular market watchers look at the emergence of a bear market, the Omicron Covid variant, OPEC+'s recent decision and more.

OPEC+ Sticks to Planned Supply Hike
Thursday, December 02, 2021The group agreed to add 400,000 barrels a day of crude to global markets in January.

OPEC+ Meets to Debate Output Boost
Wednesday, December 01, 2021Ministers have been tight lipped about their intentions.

What Can We Expect From OPEC+?
Tuesday, November 30, 2021OPEC+ is scheduled to meet in the coming days.

Biden Says USA Gas Prices Will Drop Soon
Monday, November 29, 2021Americans will see prices at the pump fall "before long".

OPEC+ to Discuss Omicron Response This Week
Monday, November 29, 2021Crude futures sank more than 10 percent in both London and New York on Friday amid fears that Omicron could hit demand.

Saudi Energy Minister Not Concerned About Omicron
Monday, November 29, 2021OPEC+ meets Thursday to decide on January output.

Continued Oil Price Reduction Commentary Expected
Monday, November 29, 2021Rigzone's regular energy prognosticators look at expected U.S. Government moves, OPEC+ reactions and more.

Oil Rebounds as Traders Size Up Covid Threat
Monday, November 29, 2021Brent rallied, climbing along with West Texas Intermediate, after the global benchmark posted the seventh largest ever dive in last week's final session.

Top Headlines: BP Goes on Hydrogen Hiring Spree and More
Saturday, November 27, 2021Check out some of Rigzone's top stories this week.

Oil Crashes as New Covid Variant Roils Markets
Friday, November 26, 2021Both benchmarks tumbled on Friday with the emergence of the new variant.

Energy Aspects Says Oil Overreacting to Covid News
Friday, November 26, 2021The material hit to demand is likely about 15,000 barrels a day, chief oil analyst Amrita Sen said.

UAE Says It Has No Prior Position Before OPEC+ Meeting
Thursday, November 25, 2021The UAE remains fully committed to the OPEC+ alliance.

New Type of Price War is Brewing
Thursday, November 25, 2021A new and unchartered type of price war is brewing, according to Rystad Energy.

Oil Down After Biggest USA Supply Build in 3 Weeks
Wednesday, November 24, 2021A government report showed U.S. stockpiles increased 1.02 million barrels last week.

Traders Pile Into $70 Longer Term Crude Price
Wednesday, November 24, 2021Oil traders are betting that longer-term crude prices could be set to spike.

OPEC+ Urged to Relieve Artificial Tightness
Wednesday, November 24, 2021The Organization of Petroleum Exporting Countries and its allies will meet next week to discuss production policy.

Anti-OPEC+ Officially Emerges
Wednesday, November 24, 2021A set of top oil-consuming countries are taking the supply-side dynamics into their own hands.

RBC Says USA May Release More Oil Reserves
Tuesday, November 23, 2021The U.S. believes it has the ability to release more oil from its reserves, according to RBC Capital Markets analysts.

Biden Orders Release of USA Oil Reserves
Tuesday, November 23, 2021The U.S. will release 50 million barrels of crude from its strategic reserves.

Will White House Finally Release Reserves from SPR?
Monday, November 22, 2021Rigzone's regular energy prognosticators look at the much talked about potential SPR release, rising Covid concerns, deal pressure and more.

Goldman Says Joint SPR Release Already Priced In
Friday, November 19, 2021The bank has a price forecast of $85 a barrel for Brent in the final quarter of this year.

USA OPEC Backlash Brews
Thursday, November 18, 2021The 'No Oil Producing and Exporting Cartels Act' would allow the U.S. government to sue members of OPEC.

Rosneft Sees Oil Edging to $120
Wednesday, November 17, 2021Global oil prices may rise to as high as $120.

Shale Making Too Much Money to Rescue Biden
Tuesday, November 16, 2021U.S. oil explorers are making more money than at any time since the shale revolution began over a decade ago, according to Deloitte LLP.

IEA Says End of Oil Price Rally in Sight
Tuesday, November 16, 2021Demand growth remains robust but supply is catching up.

Japan Offers Financial Aid to Oil Refiners
Tuesday, November 16, 2021The government plans to pay refiners up to 5 yen ($0.04) per liter of gasoline produced, according to a report by local broadcaster NHK on Tuesday.

Russia Joins OPEC+ USA Pushback
Monday, November 15, 2021Russia says there is no shortage of oil in the global market.

Political Pressure to Rein in Commodity Prices Increasing
Monday, November 15, 2021Rigzone's regular energy prognosticators look at political pressure on the industry, the effect of colder temperatures across the U.S., COP26 trends and more.

Trader Makes $250 Oil Bet
Friday, November 12, 2021The equivalent of 5 million barrels of Brent $250/$300 call spreads traded late on Thursday.

Oil Fluctuates on Ever-Changing Signals
Friday, November 12, 2021Rigzone's regular market watchers look at oil price trends, industry demand, COP26 outcomes and more.

OPEC+ Focused on Steady Supply of Oil Not Prices
Thursday, November 11, 2021OPEC+ is restoring production halted last year when the coronavirus crisis wiped out demand.

USA EIA Releases Latest Oil Price Forecast
Wednesday, November 10, 2021The EIA's November STEO highlighted that Brent crude oil spot prices averaged $84 per barrel in October.

USA Has Arsenal of Tools to Battle High Oil Prices
Tuesday, November 09, 2021Rystad Energy's senior oil markets analyst examines the situation.

Vitol Says OPEC+ and Saudis Will Stay Cautious
Monday, November 08, 2021U.S. President Joe Biden called on OPEC+ to speed up the easing of supply curbs it began in early 2020 with the onset of the coronavirus pandemic.

Prices Would Be Even Higher If It Wasn't for OPEC+
Monday, November 08, 2021The United Arab Emirates said oil prices would be even higher today if it wasn't for OPEC+.

Biden Quest for Oil Relief Turns to Tuesday Data
Monday, November 08, 2021U.S. gasoline prices at the pump hit the highest level since 2014 last week.

Look For Continued Pacing Towards $100 Oil
Monday, November 08, 2021Rigzone's regular energy prognosticators look at increasing energy prices, U.S. supply trends, COP26 fallout and more.

Top Headlines: Shell CEO Talks Shell Break Up at Web Summit and More
Saturday, November 06, 2021Check out some of Rigzone's top stories during the last week.

Biden Looking At Oil Stockpile Release
Friday, November 05, 2021The most powerful tool at Biden's disposal if he chooses to bring down prices is the SPR.

Traders Waffle Back and Forth on Conflicting Signals
Friday, November 05, 2021Rigzone's regular market watchers examine oil prices, the outcome of the latest OPEC+ meeting, climate issues and more.

OPEC+ Rejects Biden Plea
Thursday, November 04, 2021After a brief meeting on Thursday, the group approved a 400,000 barrel-a-day production hike for December.

OPEC+ Set for Geopolitical Showdown
Thursday, November 04, 2021OPEC+ is heading for a politically consequential showdown with President Joe Biden.

Analysts Upgrade Oil Price Forecasts
Wednesday, November 03, 2021Fitch Solutions Country Risk & Industry Research has upgraded its Brent oil price forecasts.

Bullish Oil Market Momentum Expected This Week
Tuesday, November 02, 2021The oil market is expected to see bullish momentum this week.

OPEC+ Softens View of Market Tightness
Friday, October 29, 2021The global oil-supply deficit will be just 300,000 barrels a day on average in the fourth quarter, the coalition's Joint Technical Committee concluded on Thursday, according to delegates.

Iran News Sends Oil Prices Lower
Friday, October 29, 2021Rigzone's regular market watchers look at oil prices, the potential restart of Iran nuclear talks, Shell's pushback on breakup calls and more.

Energy Expert Turns Attention to Upcoming COP26
Monday, October 25, 2021Rigzone's regular energy prognosticators focus on the upcoming UN Climate Change Conference and energy inventory deficits in the face of colder temperatures.

Saudi Arabia Believes OPEC+ Can't Decrease Natural Gas Prices
Wednesday, October 20, 2021Saudi Arabia said any extra oil from the OPEC+ cartel would do little to bring down surging natural gas prices.