CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South...
Tag : OPEC
OPEC+ to raise oil output by 411,000 bpd in May as market outlook strengthens, maintaining flexible adjustment plans....
Oil prices slipped as Brent crude dropped 3%, pressured by a sharp rise in US crude stockpiles and the OPEC+ decision to increase production....
Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility....
OPEC has revised its 2024 global oil demand growth forecast down by 106,000 barrels per day, citing weaker-than-expected demand in non-OECD regions, impacting overall oil demand....
Tarek El Molla, the Minister of Petroleum and Mineral Resources of Egypt, unveiled his country’s ambitious plan to invest $1.8 billion in offshore exploration for new gas wells in the Mediterranean Sea and the Nile...
Gold prices have surged past $2,000 an ounce, scaling one-year highs, as the US dollar and yields weakened. This follows weaker-than-expected US economic data, which reinforces bets for a slowdown in the pace of interest...
Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day on Sunday, ahead of a virtual meeting of an OPEC+ ministerial panel. The unexpected move takes...
Ten non-OPEC oil-producing countries and OPEC Member Countries signed the Declaration of Cooperation (DoC) on 10 December 2022. At the OPEC Headquarters in Vienna, Austria, OPEC Member Countries, Azerbaijan, Bahrain, Brunei Darussalam, Equatorial Guinea, which...
As one of the world’s largest oil producers, and considering future directions to increase energy productivity, Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), affirmed that the UAE plays a...