OPEC+ recommends staying course on oil output policy
The JMMC comprises oil ministers from the OPEC+ countries. It has no decision-making power but provides policy recommendations for the OPEC+ ministerial
UAE a safe global oil, energy supply source: OPEC chief
Al Ghais described the UAE’s prominent role in the international oil market, highlighting its essential work in production monitoring committees at ministerial
OPEC Fund extends $11mn higher education loan to Chad
The project is co-financed with the Arab Bank for Economic Development in Africa (BADEA) and will include the expansion of the institute’s
OPEC+ cut oil output, prices jump
OPEC+ had “noted the adverse impact of volatility and the decline in liquidity on the current oil market and the need to
OPEC sees lower oil demand growth in 2022
Explaining the downward revision, OPEC cited “weaker second-quarter growth in the major economies and an observed soft trend in some key economies”…reports
OPEC confirms smallest ever output rise
During the latest OPEC ministerial meeting, concerns were raised that insufficient investment into the sector will impact the availability of adequate supply
US is at last getting serious about countering OPEC
The bipartisan bill, the “No Oil Producing and Exporting Cartels Act of 2021” or “NOPEC”, may strip OPEC and its member states
OPEC deadlock: No respite for fuel consumers in India
This prevented a deal that would have helped to soften crude prices a bit next month on the back of increased oil
Extending OPEC+ is basis of agreement: KSA
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman has underlined on the need of the alliance between OPEC and non-OPEC to continue
OPEC Fund extends $10mn loan to Bank of Maldives
According to the Fund, the loan will be used for on-lending to small- and medium-sized enterprises (SMEs) engaged in tourism and related