Russia’s Novak dismisses gas OPEC idea

Russian Deputy Prime Minister Alexander Novak said in an interview that there were no plans to create an international natural gas cartel similar to the Organization of the Petroleum Exporting Countries

Kremlin: no plans to raise crude oil supply to offset fuel export ban

Russia has not discussed with the OPEC+ group of leading oil producers a possible crude oil supply increase to compensate for Russia’s fuel exports ban, the Kremlin said

Saudi energy minister: OPEC+ cuts were needed to stabilize oil market

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman defended OPEC+ cuts to oil market supply, saying international energy markets need light-handed regulation to limit volatility

OPEC says IEA estimate of peak fossil fuel demand by 2030 not ‘fact-based’

The Organization of the Petroleum Exporting Countries (OPEC) said data-based forecasts do not support the International Energy Agency’s (IEA) projection that demand for fossil fuels would peak in 2030

OPEC sticks to forecast on demand growth citing economic stability

According to the report, OPEC expects that global oil demand will rise by 2.25 million barrels per day in 2024, compared to the growth of 2.44 million bpd in 2023

Saudi Arabia, Russia extend voluntary oil cuts to year-end

Saudi Arabia and Russia agreed to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices

OPEC oil output rises in August as Iran hits 2018 high

The Organization of the Petroleum Exporting Countries has pumped 27.56 million barrels per day (bpd) this month, up 220,000 bpd from July

Barclays hikes 2024 Brent crude price forecast on tighter balance view

Barclays raised its Brent price forecast for 2024 by $8 per barrel to $97 a barrel as it expects market balances to tighten further next year

Saudi Arabia oil exports hit 21-month low in June

Saudi Arabia’s crude oil exports dropped in June to the lowest level in 21 months, the latest data by the Joint Organizations Data Initiative (JODI) showed

OPEC+ panel keeps policy unchanged

An OPEC+ ministerial panel, called the Joint Ministerial Monitoring Committee, decided to maintain the group’s current oil output policy during a meeting