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OPEC+

OPEC+ extends deep oil production cuts into 2025

The countries which have made voluntary cuts to output are Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia and the United Arab Emirates.

Russia and Saudi Arabia urge all OPEC+ powers to join oil cuts

Both MbS and Putin, 71, want and need high prices for oil, the lifeblood of their economies.

8 December 2023

Lula says Brazil's participation in OPEC+ is to stop fossil use

Silveira signaled on Thursday that the country would accept an invitation to join OPEC+.

3 December 2023

Saudi pledges big oil cuts in July as OPEC+ extends deal into 24'

The West's money-printing over the last decade has driven inflation and forced oil-producing nations to act to maintain the value of their main export.

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Oil up nearly 2% as weaker dollar offsets China concerns

The Brent and WTI benchmarks both registered monthly gains in October, their first since May.

2 November 2022

Oil settles up $2 on tighter supply; OPEC+ talks limit gains

On the demand side, further support came from optimism over a demand recovery in China, the world's largest crude buyer.

1 December 2022

OPEC+ oil output cut shows widening rift between Biden and Saudi

On Thursday, Biden called the Saudi decision "a disappointment", adding Washington could take further action in the oil market.

OPEC+ agrees deep oil production cuts, Biden calls it shortsight

U.S. officials have said part of the reason Washington wants lower oil prices is to deprive Moscow of oil revenue.