Global oil production fell by 1% in 2024 while demand continued to grow, widening the supply gap, OPEC reported.

Oil prices dipped on Thursday as analysts weighed the implications of the U.S. tariffs set to be imposed only July 9, as well as the likelihood of the Organization of the Petroleum Exporting Countries ...

Oil prices pulled back during Asian trading on Thursday, giving up some of the strong gains recorded in the previous session ...

Oil prices ticked down on Tuesday as prospects of more supply from the Organization of the Petroleum Exporting Countries and ...

The Organisation of the Petroleum Exporting Countries (OPEC) has projected a potential shortfall of 23 million barrels per day (bpd) ...

Crude oil prices held steady as traders balanced expectations of rising OPEC+ supply with a surprise U.S. inventory build.

The Organisation of Petroleum Exporting Countries (OPEC) says its research estimates a huge oil market deficit of 23 million ...

The Organisation of the Petroleum Exporting Countries (OPEC) has projected a 23 million barrels per day oil supply shortfall by 2023 without upstream investments of up to $17.4 trillion. It said the ...

Output for March 2025 was revised higher by 2 kb/d and April 2025 output was revised higher by 128 kb/d compared to last ...

OPEC said on Monday it expected the global economy to remain resilient in the second half of this year and trimmed its forecast for growth in oil supply from the United States and other producers ...

Iran-Israel conflict drives Brent crude to 5-month highs as traders price in rising OPEC route risks and potential U.S. military involvement.

OPEC was formed by five petroleum-rich countries in 1960. At the time, the global oil market was dominated by a group of multinational, Anglo-American companies known as the “Seven Sisters.” ...