Starting next October, the Organization of the Petroleum Exporting Countries (OPEC+) will increase production to 137,000 barrels per day, according to eight members at a virtual meeting last Sunday, September 7.
Thus, Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan,…
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OPEC forecasts crude oil demand to increase in 2026
The Organization of the Petroleum Exporting Countries (OPEC) published in its most recent report a forecast of an increase in demand for 2026 of 1.4 million barrels per day.
According to the report, the organization raised its estimate "by…
OPEC+ to increase crude oil supply by 547,000 barrels per day starting in September
Starting next September, the crude oil supply of the OPEC+ alliance, led by Saudi Arabia, will increase to 547,000 barrels per day.
The organization indicated that the measure will seek to address the constraints faced by industries…
OPEC reported an increase in Venezuela’s oil production in June
The Organization of the Petroleum Exporting Countries (OPEC) reported on Tuesday, July 15, an increase in Venezuela's crude oil production last month.
According to the OPEC report, data provided by the state-owned oil company Petróleos de…
OPEC+ to increase crude oil production to 548,000 barrels per day
Crude oil pumping will increase to 548,000 barrels per day starting August 1, according to a decision by OPEC+.
The measure was agreed upon by 22 members of the Saudi-led organization through a virtual meeting last Saturday, July 5.
In an…
Venezuela’s oil production reported a slight increase in May
The Organization of the Petroleum Exporting Countries' report, published in June, placed Venezuela's oil production at the end of May at 1,066,000 bpd; a slight increase compared to April's 15,000 bpd.
According to these OPEC data,…
OPEC to maintain production cuts until 2026
This Wednesday, during the 39th plenary meeting of ministers of the Organization of the Petroleum Exporting Countries (OPEC), the organization ratified the reduction in crude oil production until December 31, 2026.
Furthermore, "the…
OPEC+ members agreed to increase production
The recent decision by eight OPEC+ members to maintain the increase in crude oil production in May led prices to extend their previous losses.
On Thursday, April 3, Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Algeria,…
Brazil accepts invitation to join OPEC+
Brazilian Energy Minister Alexandre Silveira indicated that the South American nation will soon join OPEC+, after accepting the invitation made by the members of the Organization of the Petroleum Exporting Countries (OPEC) in 2023.
Brazil…
Venezuela exceeded one million barrels of daily crude oil production in January
According to the report of the Organization of Petroleum Exporting Countries (OPEC); in the month of January Venezuela exceeded one million barrels of daily oil production.
“Venezuelan production reached the figure of 1,031,000 barrels of…
Venezuela and OPEC strengthen oil production and export agreements
The secretary general of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al Gais, held strategic meetings on January 10 with the president of Venezuela, Nicolás Maduro, aimed at strengthening oil production and export…
OPEC+ postpones deadline to increase crude oil supply until April 2025
OPEC+, the alliance led by Russia and Saudi Arabia, announced last week the decision to postpone the deadline to increase its crude oil supply until April 1, 2025.
As will be recalled, in 2023, the eight countries that make up OPEC+ agreed…