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Organization of the Petroleum Exporting Countries

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 100,000 barrels per day (b/d) compared to the previous…
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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…

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…

OPEC foresees reduction in oil demand

The Organization of the Petroleum Exporting Countries (OPEC) adjusted downwards this Monday global oil demand for the remainder of 2024 (2.07 %) and for 2025 (1.71 %). One of the main reasons would be China's slowdown in consumption.…

Venezuelan oil production rose 4 % in February

The Organization of Petroleum Exporting Countries, OPEC, indicated that during the month of February of this year, Venezuela increased its production to 877,000 barrels per day. The figure represents an increase of 4 % compared to the same…