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HomeOPEC

OPEC

Saudi
Business

Oil drops sharply as Saudi price cuts raise global demand worries

The Daily Leaks

Jan 8, 2024 — Oil prices fell over 3% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output that offset supply concerns generated by escalating geopolitical tension […]

OPEC
Business

Oil prices rise on uncertainty over OPEC+ cuts and Middle East tensions

The Daily Leaks

Oil prices jumped by nearly 1% on Tuesday, lifted by uncertainty over voluntary output cuts by the OPEC+ group of producers, tensions in the Middle East and some encouraging economic signals in Europe. Brent crude […]

OPEC
Latest News

Oil steady amid OPEC+ supply cut expectations

The Daily Leaks

Oil prices were stable on Monday amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. Brent crude […]

OPEC
Business

OPEC+ surprises markets, cuts output target as oil leaps $5/bbl

The Daily Leaks

• OPEC+ cuts output target by about 1.16 million bpd • Oil prices register biggest daily rise in nearly a year • Producer group acted after oil hit $70 a barrel • Goldman Sachs raises […]

OPEC
Business

OPEC Secretary-General Mohammad Barkindo dies at 63

The Daily Leaks

The Secretary General of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. Barkindo, 63, was due to step down at the end of this […]

Oil
Business

Oil prices rise more than 2% after OPEC+ record deal on production cuts

The Daily Leaks

Stocks in Asia traded lower Monday morning as the Organization of the Petroleum Exporting Countries and its allies reached an agreement on a record oil production cut. In Japan, the Nikkei 225 slipped 1.04% in early trade while the Topix […]

OPEC
Features

OPEC will help stabilise oil market even with coronavirus concerns, African Energy Chamber says during Discussion with Deutsche Welle

The Daily Leaks

As oil prices sank about 14 percent last week alone and the Brent hit a twelve-month low on the back of the coronavirus outbreak, the Organization of Petroleum Exporting Countries (OPEC) is meeting in Vienna […]

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