A meeting of top OPEC+ ministers has kept oil output policy unchanged including a plan to start raising output from December, while also emphasizing the need for some members to make further cuts to compensate for overproduction

The Organization of the Petroleum Exporting Countries and its allies will go ahead with a planned oil production increase in December but first need to cut output to address overproduction by some members

Saudi state oil giant Aramco made its return to the debt market after a three-year hiatus, joining top companies and governments in the Gulf that have tapped markets this year to fund investments

OPEC+ agreed to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production

Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco, pending final approval from Crown Prince Mohammed bin Salman

OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but they could keep the cuts if demand fails to pick up

China’s oil imports from Russia, including pipeline deliveries and maritime transport, rose 12.5% annually to 10.81 million tons, or 2.55 million barrels per day (bpd) last month, according to Customs Administration data

Saudi Arabia praised the countries inside and outside the Organization of the Petroleum Exporting Countries (OPEC) for their unity and commitment to the stability of the oil market through the “Declaration of Cooperation” signed in December, according to a cabinet statement

OPEC oil output rose in December, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance in support of the market

OPEC+ plans to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February, though an exact date has not been decided