OPEC has agreed in principle to further accelerate its supply increases next month, delegates said, as the group led by Saudi Arabia seeks to reclaim market share.

The eight OPEC+ nations on Saturday agreed to increase their crude oil production by 548,000 barrels per day starting in ...

The OPEC+ group of oil-producing nations on Saturday agreed to boost their collective crude production capacity by 548K barrels per day for August, extending four consecutive daily increases over the ...

The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts ...

Eight OPEC producers agreed to lift crude output by 548,000 barrels per day in August, exceeding the anticipated 411,000 ...

Saudi Arabia, Russia and six other key members of the OPEC+ alliance will discuss crude production on Saturday, with analysts ...

U.S. crude oil inventories rose for the first time in six weeks as imports rose and exports dropped, according to data released by the U.S. Energy Information Administration. Gasoline inventories rose ...

Stock markets mostly fell alongside a retreating dollar Friday as international tensions over tariffs dominated sentiment.

The NYMEX August West Texas Intermediate contract was down by 53cts to $66.92/bbl and September WTI was off by 51cts to $65.50/bbl. Both the September and October Brent crude contracts were 47cts ...

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

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri yesterday said the Federal Government has ...