The plan will represent monthly cuts of between 189,000 barrels per day and 435,000 bpd, according to a table on OPEC’s web site. The scheduled cuts last until June 2026

The International Energy Agency (IEA) has revised its 2024 oil consumption figures and demand expectations for 2025 due to uncertainty caused by U.S. tariff announcements

The Organization of the Petroleum Exporting Countries (OPEC) reported on Wednesday that Kazakhstan led a significant increase in production in February by OPEC+, highlighting the challenge the group faces in meeting agreed production targets

U.S. President Donald Trump reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia’s finances and help bring an end to the war in Ukraine

The Executive Director of the International Energy Agency (IEA), Fatih Birol, highlighted that the energy transition is necessary not only to mitigate the effects of climate change but also to provide immediate economic benefits and contribute to future energy security

The International Energy Agency (IEA) has revised upward its forecast for global oil demand in the last quarter of 2024, primarily due to colder winter conditions in many regions of the Northern Hemisphere, but it does not foresee supply shortages

OPEC, in a monthly report, said demand will rise by 1.43 million barrels per day in 2026, a similar rate to the growth of 1.45 million bpd expected this year. The 2026 prediction is OPEC’s first in its monthly report

The Organization of the Petroleum Exporting Countries (OPEC) reiterated its view that the global oil sector requires $17.4 trillion in investments by 2050, averaging $650 billion per year

The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast

OPEC cut its 2024 global oil demand growth forecast for a fifth straight month and by the largest amount yet, a series of downgrades that highlights China’s sputtering role as the world’s demand growth engine