OPEC said this year's demand growth was still above the historical average of 1.4 million bpd seen prior to the COVID-19 pandemic, which caused a plunge in oil use. For next year, OPEC cut its ...

Crude output from the Other 8 OPEC producers (those not part of the Big 4) has risen at an average annual rate of 447 kb/d for the past 36 months. The OPEC Monthly Oil Market Report (MOMR ...

Crude oil prices fell Monday after the Organization of the Petroleum Exporting Countries (OPEC) reduced its oil demand outlook for 2024 and 2025 once again, citing data received so far this year.

OPEC cut its estimate for China's crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports.

OPEC and its allies aren’t likely to bring oil output back this year because producers are “making huge money” from refined products, according to Rystad Energy. “Our view is that they ...

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Exxon Mobil Corp. and Chevron Corp. capped Big Oil earnings season by revealing blockbuster increases in fossil fuel production — just as OPEC and its allies are preparing to increase the supply ...

OPEC trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognizes a slowdown in global fuel use. Global oil consumption will ...

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MOSCOW, Oct 14 (Reuters) - Russia cut crude oil output in September by 28,000 barrels per day (bpd) to about 9 million bpd, the Organization of the Petroleum Exporting Countries (OPEC) said on ...

VIENNA, Oct. 29, 2024 /PRNewswire/ -- The OPEC Fund for International Development (the OPEC Fund) concluded its participation in the 2024 World Bank-IMF Annual Meetings with robust new financing ...

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