OPEC+ To Increase Oil Production in May: Report

Oil Flows Edge Higher in Final Month Before OPEC+ Supply Revival

The flow of seaborne oil rose in March, the final month before OPEC+ is set to start adding barrels back to the global market.

Iraq cuts oil output ahead of OPEC+ move

Shafaq News/ Iraq has reduced its oil production ahead of planned supply increases by the OPEC+ alliance, according to a Bloomberg survey.OPEC+, led by Saudi Arabia and Russia, is scheduled to begin i

OPEC+ To Increase Oil Production in May: Report

OPEC+ is expected to agree on a plan that would see production for the group increase in May, OPEC+ sources told Reuters on Tuesday. The OPEC+ group, comprised of the 12 OPEC members—Saudi Arabia, Iraq, Iran, Kuwait, Venezuela, Gabon, Algeria, Equatorial Guinea, Libya, UAE, Congo, and Nigeria—and non-OPEC member organizations Russia, Brazil, Mexico, Kazakhstan, Oman, Azerbaijan, Bahrain, Malaysia, South Sudan, Brunei, and Sudan—produce more than…

Oil Rises, but Doubts Dominate

Uncertainty over tariffs, sanctions, and OPEC output drove cautious gains in crude.

Oil declines, between profit takings and increase in production of the Opep+ Admin FCE 01 Apr 2025 - 21:31 Oil prices fell on Tuesday, undermined by some profits before the new wave of customs duties promised by the US President on Wednesday, and while the Opep+ cartel began to increase its production.The price of the Brent barrel of the North Sea, for delivery in June, which was the first day of use as a reference contract, lost 0.33% to 74.49 …

Sirte Oil Company Resumes Methanol Production in Libya

Libya’s oil and gas sector has achieved a significant milestone with the successful restart of the second methanol plant operated by the Sirte Oil and Gas Production and Manufacturing Company. The facility resumed operations after being offline for more than seven years, marking a key step in revitalising the country’s petrochemical industry. The National Oil Corporation (NOC) announced the development on Sunday, stating that production had offi…