News from OPEC+
Stay current with all the latest and breaking news about OPEC+, compare headlines and perspectives between news sources on stories happening today. In total, 109 stories have been published about OPEC+ which Ground News has aggregated in the past 3 months.
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OPEC+Chinese oil demand is back in the spotlight, exerting pressure on oil prices to start the new trading week with a loss, extending losses booked last week. "Worries over weak demand in China outweighed the extension of supply cuts by OPEC+," a Nissan Securities analyst told Reuters. The worries came after the research arm of state-owned Chinese energy major CNPC forecast last week that China isĀ enteringĀ a slow oil demand period thanks to the uptaā¦See the Story
Oil Prices Start the Week Lower as Concerns About Chinese Demand Grow
100% Center coverage: 1 sources
Mohammed Bin Salman Ā· JapanAramco reported overall revenue of $440 billion last year, down from $535 billion in 2022. Aramco had reported a $161 billion profit in 2022, likely the largest ever reported by a publicly traded company. Crown Prince Mohammed bin Salman hopes to use the oil wealth to pivot the kingdom off oil sales.See the Story
Saudi Oil Giant Aramco Announces $121 Billion Profit Last Year, Down from 2022 Record
100% Right coverage: 1 sources
Oil and Gas Sector Ā· IraqShafaq News/A āPlattsā survey conducted by S&P Global Commodity Insights, a global trading company, showed the stability of oil production by the countries of the OPEC+ alliance in February, as well as the continued divergence in the extent to which members comply with their production reduction commitments. Iraq and Kazakhstan continued to pump much higher quantities than their share. The 22-nation alliance produced 41.21 million barrels per daā¦See the Story
A survey indicates Iraq's ānon-commitmentā to reducing production
100% Left coverage: 1 sources
OPEC+ Ā· Port HuronBy Arathy Somasekhar HOUSTON (Reuters) -Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel. U.S. West Texas Intermediate crude futures (WTI) fell 92 cents, or 1.2%, at $78.01. Both benchmarks fell in the week, with Brent down 1.8% and WTI 2.5%. āWhile suppliā¦See the Story
Oil dips 1%, posts weekly loss as markets weigh Chinese demand
OPEC+ Ā· RiyadhThe OPEC+ groupās combined crude oil production in February was little changed from January and still above the overall output quota that OPEC and its allies pledged when they announced extra voluntary supply reductions, according to the latestĀ Platts surveyĀ by S&P Global Commodity Insights. Ā Ā Ā Ā The survey showed total OPEC+ oil production flat in February from January at around 41.21 million barrels per day (bpd), which, per Plattsā estimates,ā¦See the Story
OPEC+ Failed to Hit Its Production Target Yet Again in February
100% Center coverage: 1 sources
OPEC+OPEC+ extended production cuts of 1.7 million barrels per day into the second quarter. Rystad Energy Senior Vice President Jorge Leon outlined that OPEC+'s recent strategy is focused on supporting prices rather than expanding market share. By June this year, OPEC+ share of global liquids supply is projected to drop to its lowest point since the formation of the OPEC+ alliance in 2016.See the Story