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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.
OPEC bars five news organizations from meeting - Talking Biz News
OPEC excluded five of the world’s leading news organizations from covering its biennial oil seminar in Vienna, attended by the group’s ministers and senior industry executives, reports Will Kennedy of Bloomberg News. Kennedy reports, “The Organization of the Petroleum Exporting Countries did not accredit Bloomberg News, despite repeated requests, and offered no explanation for its decision. The […]
Oil Futures Gain With Support From Products
Crude oil futures post back-to-back gains with the market unfazed by OPEC+ plans for higher production and supported by gains in products. "Gasoline has come back to life in the past few days and is accelerating faster than crude oil and leading the charge higher," Mizuho's Robert Yawger says in a
Baystreet.ca - Can the Oil Market Absorb OPEC+ Output Hikes?
OPEC+ never fails to surprise speculators and market analysts. This weekend’s meeting to decide August production levels was expected to be a short routine video call to announce another output hike of 411,000 barrels per day (bpd). Short it was, ...
Baystreet.ca - Why OPEC+ Is Pumping Fast and Playing Hardball
OPEC+ blindsided oil market participants, again, with a larger-than-expected oil production hike for August. Instead of the widely expected 411,000 barrels per day (bpd), the group of eight OPEC+ producers led by Saudi Arabia and Russia decided ...
WTI tumbles below $66.00 amid ongoing trade jitters
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.75 during the early Asian trading hours on Friday. The WTI price tumbles amid concerns about a supply hike for August by OPEC+, a surprise increase in US crude inventories, and intensifying US tariff pressures.