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Discover Latest #OPEC News, Articles and Videos with Contenting
OPEC OPEC (Organization of the Petroleum Exporting Countries) is a group of 13 major oil-exporting nations, including Saudi Arabia, Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the United Arab Emirates, Venezuela and Indonesia. The mission of the organization is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry. OPEC works to ensure the stability of global oil prices and promote the development of economic and social projects in member countries. OPEC also works to reduce global dependence on oil and promote the use of alternative energy sources.
Baystreet.ca - Trump's Presidency Sparks Renewed Optimism in Oil Markets
Last year’s oil market was dominated by algorithmic trading, amplifying every headline about market oversupply and Chinese demand into price swings that kept crude trapped in a narrow, disappointing range—well below OPEC+’s lofty production-cut goals. ...
Oil prices down on US fuel stocks build, dollar strength
NEW YORK (Reuters) -Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains driven by tightening supplies from Russia and other OPEC members. Brent crude settled down 89 cents, or 1.16%, to $76.23 a barrel. "The oil market is being weighed down by the significant increases in gasoline and diesel inventories that we've seen over the last couple of weeks," said Andrew Lipow, president of Lipow Oil Associates.
Brent Crude – Oil Advances on Russian Sanctions. Will 100-day MA Cap Gains? - Action Forex
Oil prices rose due to new US sanctions on Russian oil and tankers. The Kremlin warned these sanctions could destabilize global energy markets. Indian ‘sources’ stated it would avoid purchasing Russian oil from sanctioned entities and vessels. Markets are assessing the potential for a supply shock and whether OPEC+ will increase output.
Baystreet.ca - 2025 is a Highly Unpredictable Year For OPEC+
Another year, another set of challenges and dilemmas for OPEC+. The group is set to start unwinding its oil production cuts, but it will have to contend – once again – with many uncertainties and be ready to react to unpredictable events in 2025. From ...
Baystreet.ca - Chinese Crude Oil Imports From Russia Rose to a Record High in 2024
Cheap cargoes and weak refining margins boosted China’s crude oil imports from Russia to a record high in 2024, while imports from the world’s top crude exporter and Russian ally in OPEC+, Saudi Arabia, dipped by 9%, according to official Chinese data ...