Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Brazil’s oil reserves are bigger than those of several OPEC members.

Saudi Arabia’s Energy Minister Prince Abdulaziz said his country is ready to make deeper cuts in oil output.

The officials agreed on Monday that any threat to oil facilities infringed on the interests of all countries of the world.

The OPEC+ mechanism has shown it is efficient. but it is not efficient infinitely.

A surprise fall in both official U.S. crude inventories and gasoline stocks was supportive for oil overnight.

Saudi Arabia have complained about Russia’s failure to comply with the deal in full.

The neutral zone. which has been shuttered for at least four years. can produce as much as 500.000 barrels a day.

Demand for key Russian oil grades sold in Asia has been strong in the past month.

Russia and OPEC+ nations agreed to extend crude output reduction starting July.

Compliance with production quotas among OPEC and its allies is at 136%.