opec

OPEC Fund enhances global partnerships with substantial financing commitments at the 2024 World Bank meetings

October 29, 2024 | 00:45

The OPEC Fund for International Development (the OPEC Fund) concluded its participation in the 2024 World Bank-IMF Annual Meetings with robust new financing commitments, signing loan agreements totaling nearly half a billion dollars with partner countries.

Oil jumps but dollar bruised on US data

October 10, 2022 | 14:50

Oil prices jumped Monday on expectations of an OPEC output cut, while weak US data sent stocks higher amid rising hopes central banks may be able to ease off interest rate hikes.

Equities extend rally on rate hopes, traders await OPEC decision

October 05, 2022 | 11:11

Asian investors joined their Wall Street and European counterparts in an equity buying spree Wednesday as more data pointing to weakness in the US economy further fanned hopes the Federal Reserve could temper its rate hike campaign.

OPEC+ expected to slash oil output

October 05, 2022 | 11:03

Major oil producers led by Saudi Arabia and Russia were set to meet Wednesday as reports said they were mulling an output cut of up to two million barrels per day in a bid to prop up slumping prices.

OPEC+ agrees oil output cut to prop up prices

September 06, 2022 | 10:25

The OPEC+ oil cartel agreed Monday to cut production for the first time in more than a year as it seeks to lift prices that have tumbled due to recession fears.

OPEC+ to meet amid economic downturn fears

September 05, 2022 | 15:38

Faced with recession fears, the OPEC+ countries are expected to agree a modest increase in oil production at a meeting on Monday, with some experts even forecasting a cut to support prices.

Putin and Saudi crown prince talk oil

July 22, 2022 | 11:37

Putin and Prince Mohammed discussed "in detail the situation on the international oil market. They stressed the importance of reinforcing cooperation in OPEC+," the Kremlin said in a statement.

OPEC+ fails to resolve wrangling over production quotas

July 03, 2021 | 11:02

The members of the OPEC+ alliance of oil producing countries failed to reach agreement on production quotas from August at a meeting on Friday, with the group saying talks had been adjourned until next week.

OPEC+ to reconvene to navigate crude market volatility

March 30, 2021 | 16:41

The OPEC+ grouping of oil producers will hold its third ministerial summit of the year via videoconference Thursday to discuss output cuts in the face of fresh price volatility.

OPEC turns 60 at 'critical moment' for virus-hit oil

September 27, 2020 | 11:09

OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels.

PetroVietnam tireless amid adversity

September 21, 2020 | 19:17

Consistent with a solution package for overcoming the double crisis of decreasing demand and falling oil prices, Vietnam Oil and Gas Group achieved 7.76 million tonnes of oil and gas in the first eight months of this year, exceeding its plan by 8.2 per cent.