OPEC+ has agreed to increase the quantity of its oil-supply output by about 50% after months of pressure from major consumers including the US. On Thursday, authorities entreated the group to add 648,000 barrels a day of Read More
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Oil has dropped for a sixth straight week, marking the longest stretch of weekly declines since 2018, as the omicron variant jolts markets. The spread of the omicron variant has investors concerned about a potential hit Read More
OPEC and its allies would meet this week to decide whether to stick with their planned oil output increase or hold off until more is known about the Omicron variant of the coronavirus. The Organization Read More
Oil price has continued to climb as demand recovers faster than was predicted. The global benchmark Brent is up at nearly $80 a barrel, its highest price since October 2018. Brent crude was up 1.73 percent to $79.44 a Read More
The OPEC coalition led by Saudi Arabia and Russia is expected to press on with the planned revival of oil production, as prices bounce back from their August downturn. The coalition is gradually restoring Read More
As global oil demand recovers from the pandemic, OPEC and its allies have announced its commitment to improve oil production. A committee led by Saudi Arabia and Russia agreed the coalition should press on with Read More
