The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

The Organisation of Petroleum Exporting Countries (OPEC) says its research estimates a huge oil market deficit of 23 million ...

Additionally, the Organization of the Petroleum Exporting Countries (OPEC) and its allies such as Russia, known as OPEC+ will ...

The organization’s decisions often garner headlines because, in our experience, many see OPEC+ as the primary determiner of ...

SINGORE -Oil prices fell on Thursday after gaining 3% in the previous session as investors are wary higher U.S. tariffs may be reinstated, which could cause lower fuel demand, and as major producers ...

Global oil production fell by 1% in 2024 while demand continued to grow, widening the supply gap, OPEC reported.

We expect ministers will continue the unwinding of the November 2023 tranche of cuts', analysts at Standard Chartered Bank ...

The EIA revealed on Tuesday that the United States imported over 30 million barrels of crude oil from OPEC countries in May.

The Organisation of the Petroleum Exporting Countries (OPEC) has projected a potential shortfall of 23 million barrels per day (bpd) ...

West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $66.08 per barrel, down from Wednesday’s close at $66.75. Brent Oil Exchange Rate (Brent crude) ...

The Organisation of the Petroleum Exporting Countries (OPEC) has projected a 23 million barrels per day oil supply shortfall by 2023 without upstream investments of up to $17.4 trillion. It said the ...

Brent crude will likely retrace to around $60 per barrel by early next year, with the market being well supplied and ...