Global demand for OPEC’s crude will rise in the next two years more slowly than expected, the group forecast, as a recovery in prices resulting from an OPEC-led supply cut stimulates renewed output growth from non-members. more

Nov 7, 2017 10:16 AM Refining/Petrochemical

OPEC said on Wednesday its oil production jumped in June and forecast world demand for its crude will decline next year as rivals pump more, pointing to a market surplus in 2018 despite an OPEC-led output cut. more

Jul 13, 2017 11:14 AM Refining/Petrochemical

OPEC oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers. more

Jul 3, 2017 8:28 AM Refining/Petrochemical

There is no talk of further oil output cuts by the Organization of the Petroleum Exporting Countries and its allies despite only a slow drawdown in inventories. more

Jun 30, 2017 9:41 AM Refining/Petrochemical

Oil prices fell on Tuesday, rattled by concern over slowing demand, a rising U.S. dollar and increasing U.S. crude output that has shaken investors' faith in the ability of OPEC to rebalance the market. more

May 10, 2017 10:50 AM Refining/Petrochemical

OPEC said oil inventories have risen despite a global deal to cut supply and raised its forecast of production in 2017 from outside the group, suggesting complications in an effort to clear a glut and support prices. more

Mar 15, 2017 10:21 AM Refining/Petrochemical

Top OPEC oil producer Saudi Arabia made a large cut in its crude output in January to support prices and lessen a glut, helping boost compliance with the group's supply-reduction deal to a record high of more than 90%. more

Feb 14, 2017 10:03 AM Refining/Petrochemical

Oil prices fell on Wednesday to their lowest in a week, on a strong dollar and expectations that U.S. producers would boost output even as OPEC's output fell from a record high. more

Jan 19, 2017 9:48 AM Refining/Petrochemical

Oil climbed, posting the biggest two-day gain in almost six weeks after Saudi Arabia said it cut production even more than required by an OPEC deal, Bloomberg reported. more

Jan 12, 2017 3:17 PM Refining/Petrochemical

US oil prices extended gains on Tuesday in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices. more

Dec 27, 2016 9:22 AM Refining/Petrochemical

For the first time since 2008, OPEC is set to strike a deal to cut oil output that may boost prices. more

Nov 29, 2016 9:34 AM Refining/Petrochemical