The Organization of the Petroleum Exporting Countries (OPEC) indicated in a report last week that Venezuelan crude production grew 3.8% in May, reaching 1.17 million barrels per day.
"So far this year, the country's oil production, which boasts the world's largest proven crude oil reserves, has…
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OPEC
OPEC+ to increase oil production in July
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman participated in a virtual meeting last Sunday, during which they agreed to increase oil production by 188,000 barrels per day next month.
This marks the fourth consecutive…
OPEC+ to increase crude oil supply in May
The OPEC+ decision to increase its crude oil supply again on May 1 will likely be largely symbolic, according to analysts, due to the difficulty of implementing it because of the Iran conflict.
In fact, the organization has been unable to…
Brazil, Guyana, and Argentina stand out as key suppliers of oil in 2026, according to the IEA
The U.S. Energy Information Administration (EIA) forecasts an increase in global oil production of 800,000 barrels per day in 2026, thanks to the prominent role of Argentina, Brazil, and Guyana: three non-OPEC countries that will contribute…
OPEC+ announces stable crude oil supply until April
According to an announcement issued by OPEC+ this Sunday, January 4, the oil alliance led by Saudi Arabia and Russia will maintain a stable crude oil supply at least until April.
The group of oil-producing countries announced the measure…
OPEC+ maintains oil supply levels
OPEC+ announced that it will maintain its current global oil supply levels until April 1, 2026. The production cuts established in 2022 will also remain in effect, but only until December 31 of the same year.
The alliance, led by Saudi…
OPEC+ agreed to increase oil supply starting in December
Starting in December, OPEC+ will increase its crude oil supply to the market to 137,000 barrels per day, marking the organization's ninth consecutive increase.
The decision was announced this Sunday, November 2, by the ministers of eight…
OPEC maintains global demand forecast for this year and 2026
The Organization of the Petroleum Exporting Countries (OPEC) announced that it will maintain its projections for increased global crude oil demand in 2025 and 2026, with increases of 1.25 % and 1.31 %, respectively.
According to the…
OPEC+ agreed to increase production to 137,000 barrels per day in October
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,…
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…