Keywords: OPEC+
Oil prices have plummeted amid growing forecasts of a historic supply surplus extending into 2027, raising concerns among investors and analysts about prolonged market imbalance. Despite geopolitical uncertainties, the market is bracing for a significant glut driven by supply outpacing demand at an unprecedented......
The International Energy Agency (IEA) has raised its global oil supply growth forecasts, cautioning that the market may face increasing imbalances in the coming years. According to the agency's latest monthly report, global oil supply is projected to outpace demand by 4 million barrels per day (bpd)......
Saudi Arabia is facing a critical diplomatic balancing act as escalating US sanctions on Russia's oil industry strain the fragile cohesion of the OPEC+ alliance. This comes just weeks ahead of a crucial White House meeting between Saudi Crown Prince Mohammed bin Salman and US President Donald Trump,......
Oil prices extended their losses on Thursday as investors grew increasingly concerned that global supply could soon outpace demand, mainly due to rising production from OPEC and its allies. Brent crude for November delivery dropped 0.9% to $66.99 per barrel, while U.S. benchmark West Texas Intermediate......
Morocco has secured a €100 million loan from the OPEC Fund for International Development, marking another step forward in its efforts to strengthen economic governance and combat the challenges posed by climate change. This funding, part of the Program to Support Economic Governance and Climate......
Aramco, the world's largest oil exporter and cornerstone of the Saudi economy, continues to see declining profits for the tenth consecutive quarter since its record highs in late 2022. The company's net income fell from $29.07 billion to $22.67 billion, largely due to “lower crude oil,......
In a strategic move to regain market share, the eight key members of OPEC+, including Saudi Arabia and Russia, announced on Sunday an increase of 547,000 barrels per day starting in September 2025. This marks the end of a production hike cycle initiated in April. The decision was largely anticipated......
Oil prices dropped sharply after key OPEC+ members, including Saudi Arabia and Russia, announced an increase in production of 411,000 barrels per day for June. This follows a similar decision the previous month that had already triggered a decline in prices. The price of Brent crude dipped nearly four......
The International Energy Agency (IEA) has revised its global oil demand growth forecast for 2025, citing "escalating trade tensions" linked to U.S. tariffs. After a period of relative calm, global oil markets have been shaken by a wave of tariff announcements in early April, according to the......
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