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OPEC Newswire

  • Published on May 31, 2025

    OPEC+ agrees to July oil output hike of 411,000 bpd

    By Alex Lawler, Olesya Astakhova and Ahmad Ghaddar LONDON/MOSCOW (Reuters) -OPEC+ agreed on Saturday to hike July oil output by 411,000 barrels per day (bpd), the same as in May and June, as the group of oil-producing countries continues to bring back …

    Source: Yahoo Finance - Center-left
  • Published on May 31, 2025

    OPEC+ countries to boost output by another 411,000 bpd in July

    MOSCOW, May 31. /TASS/. Eight OPEC+ countries voluntarily reducing oil production have agreed to increase production by another 411,000 barrels per day in July, which is in line with the initial three-month plan for production growth, according to …

    Source: TASS - Gov't Propaganda
  • Published on May 31, 2025

    OPEC+ members to discuss oil output plan for July

    Among the countries that have committed to voluntary adjustments to their output plans are Russia, Saudi Arabia, Iraq, the UAE, Kazakhstan, Algeria, Oman, and Kuwait, News.Az reports, citing foreign media. Those countries have voluntarily reduced …

    Source: News.Az - Pro-Government
  • Published on May 31, 2025

    Iraq’s Basrah crude posts weekly losses as global oil prices dip

    2025-05-31T06:25:06+00:00 font Enable Reading Mode A- A A+ Shafaq News/ On Saturday, Iraq’s Basrah crude grades recorded modest weekly losses, tracking declines in global oil benchmarks amid market uncertainty over US trade policy and an upcoming OPEC+ …

    Source: Shafaq News - Indeterminate
  • Published on May 31, 2025

    Tinubu Signs New Executive Order to Slash Oil Production Costs, Boost Investor Confidence

    As a follow-up to his recent efforts to raise crude oil production and attract investment to the oil and gas sector, President Bola Tinubu has issued a new Executive Order which seeks to lower project costs, attract more investors, and enhance revenues …

    Source: Arise News - Neutral
  • Published on May 31, 2025

    Amid New $8bn Investments, Tinubu Announces Fresh Incentives for Oil Sector

    * To return 50% of incremental cost savings to investors  *Set to cut project costs, caps tax credit at 20% Emmanuel Addeh in Abuja As a follow-up to his recent efforts to raise crude oil production and attract investment to the oil and gas sector, …

    Source: This Day - Pro-Government
  • Published on May 31, 2025

    OPEC Fears Dominate Crude Trading, Another Weekly Loss Logged

    But some metrics are pointing to near-term strength: File Image/Pixabay For the second time this week, crude traders shifting from worrying about global oversupply to supply tightness and then, on Friday, back again as expectations were high for the …

    Source: Ship & Bunker - Neutral
  • Published on May 31, 2025

    OPEC+ Eyes Larger Oil Output Boost Amid Market Tensions

    (MENAFN- The Arabian Post) OPEC+ is poised to consider a more substantial oil production increase for July than the previously agreed 411,000 barrels per day , according to sources familiar with the group's deliberations. The move reflects escalating …

    Source: MENAFN - Indeterminate
  • Published on May 31, 2025

    Oil prices fall ahead of Opec plus supply decision

    OIL prices fell yesterday and headed for a second consecutive weekly loss, as investors weigh a potentially larger Opec+ output hike for July, and uncertainty spreads around US tariff policy after the latest courtroom twist. Brent crude futures fell by 21 …

    Source: Gulf Daily News Online - Pro-Government
  • Published on May 31, 2025

    Crude Oil Prices Slip On Friday

    Crude suffered a weekly loss of more than 1 percent due to uncertainty over U.S. President Donald Trump's tariffs and their likely impact on global growth and fuel demand. Trump's sweeping tariffs are now facing legal uncertainties, complicating …

    Source: RTTNews - Neutral
  • Published on May 31, 2025

    Oil settles down on possible Opec+ output hike

    Brent crude futures settled down 25 cents, or 0.39%, at US$63.90 a barrel. US West Texas Intermediate crude finished down 15 cents, or 0.25%, at US$60.79 a barrel. HOUSTON: US crude futures fell on Friday as traders expected Opec+ would decide on Saturday …

    Source: The Malaysian Star - Indeterminate
  • Published on May 31, 2025

    OPEC: Non-Declaration of Cooperation liquids supply developments

    In 2024, liquids supply from countries not participating in the Declaration of Cooperation (non-DoC) is estimated to have increased by 1.3 mb/d to average 53.2 mb/d. Most of the growth came from the US, with liquids production increasing by 0.8 mb…

    Source: Hellenic Shipping News - Neutral
  • Published on May 31, 2025

    Middle East Crude-Dubai hits one-month high; OPEC+ meeting in focus

    Middle East crude benchmark spot premiums of Dubai hit their highest in one month on Friday, while that of Oman rebounded after hitting a six-month low in the previous session. Market participants are widely expecting another hike by the Organization of …

    Source: Hellenic Shipping News - Neutral
  • Published on May 31, 2025

    OPEC+ may boost July oil output beyond planned 411,000bpd 

    OPEC+ is weighing a potential oil production increase exceeding the previously planned 411,000 barrels per day for July, as it seeks to reclaim lost market share, according to sources familiar with the discussions. Eight key members of the Organization of …

    Source: Nairametrics - Neutral
  • Published on May 31, 2025

    Tankers: US Crude Oil Exports Further Down in 2025

    US crude oil exports have been impacted by the tariff wars, as volumes retreated during the first four months of 2025. In its latest weekly report, shipbroker Banchero Costa said that “after a positive 2023, when global crude oil loadings increased by +5% …

    Source: Hellenic Shipping News - Neutral
  • Published on May 31, 2025

    Libya participates in 191st OPEC ministerial meeting

    Libya’s Minister of Oil and Gas, Khalifa Abdul Sadiq, has participated in the 191st ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC). He also took part in the 39th OPEC+ ministerial meeting, which included both OPEC and …

    Source: The Libya Observer - Neutral
  • Published on May 30, 2025

    Oil finishes down on possible OPEC+ output hike

    [HOUSTON] US crude futures fell on Friday (May 30) as traders expected Opec+ would decide on Saturday to boost oil output for July beyond previous forecasts. Brent crude futures settled down 25 cents, or 0.39 per cent, at US$63.90 a barrel. US West Texas …

    Source: The Business Times Singapore - Neutral
  • Published on May 31, 2025

    Eight OPEC+ members to discuss oil output plan for July at online meeting

    MOSCOW, May 31. /TASS/. Eight OPEC+ member states, which voluntarily reduce crude output, will have an online meeting on Saturday focusing on the oil production plan for July. Among the countries that have committed to voluntary adjustments to …

    Source: TASS - Gov't Propaganda
  • Published on May 30, 2025

    U.S. oil companies are ‘battening down the hatches’

    By Rebecca F. Elliott New York Times U.S. oil companies are pulling back as lower commodity prices take a toll. After two months of crude oil prices hovering around $60 a barrel, companies are shutting down drilling rigs and laying off workers as they pare …

    Source: The Spokesman-Review - Washington State - Neutral

31 days 02:42:45

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