The OPEC+ group agreed to cut production, by 2 million barrels per day, the biggest slash in production since the beginning of the COVID-19 pandemic in 2020.

World Business Watch: OPEC+ to cut oil production by 2 million barrels per day to shore up prices

Oil prices have jumped after reports said that OPEC+ is considering a cut to output this week. Meanwhile, Asian shares trade mix today as the holiday-heavy week gets underway.

World Business Watch: Oil prices climb, Asian shares mixed as holiday-heavy week gets underway

The OPEC Plus has decided to start cutting oil production in October by 100,000 barrels. Western sanctions on countries like Iran and Venezuela could squeeze oil supplies further. Palki Sharma tells you more.

Gravitas: Why your oil bills could spike again

The Organization of the Petroleum Exporting Countries (OPEC) and its allies has agreed to significant oil output increases in July amid calls for the alliance to help contain the surging oil prices.

OPEC+ agrees to significant oil output increases in July to ease surging prices

OPEC members are considering the idea of suspending Russia in an oil production deal as Western sanctions hurt the nation's ability to produce more.

Reports: Oil group OPEC+ mulls excluding Russia from production deal

Oil prices fell by around $3 a barrel in early Asian trade on Thursday as investors cashed in on a recent rally with a key producers meeting later in the day set to pave the way for expected output increases.

Oil prices skid $3 a barrel as investors take profits ahead of OPEC+ meeting

OPEC+ production group is expected to stick to its plans to increase output in February when it meets on Tuesday.

OPEC+ expected to stick with planned February output increase

OPEC and its allies agreed to stick to plans to raise oil output by 400,000 barrels per day from December, despite calls from the United States for extra supply to cool rising prices.

World Business Watch: OPEC+ rebuffs US calls for speedier oil output increases

Oil prices rose more than 4 per cent Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventories.

Oil climbs 4% despite rise in US inventories

Closing out its worst day since March this year oil prices slumped $5 a barrel on Monday, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.

World Business Watch: Oil prices slip after OPEC and allies reach deal to boost supply

Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

World Business Watch: Oil falls more than 1% after OPEC+ agrees to boost supply

World's major oil producers agreed on Sunday to continue to boost output modestly from August. An Opec+ meeting agreed to raise output by 400,000 barrels per day (bpd) each month from August, the Vienna-based group said in a press statement.

Major oil producers agree on modest output boost from August

OPEC+ ministers plan to hold their next meeting on Sunday to decide on output policy, three sources within the producers' group told Reuters on Saturday. The development comes after Saudi Arabia and the United Arab Emirates (UAE) reached a compromise last week in a dispute over OPEC+ policy, in a move that should unlock a deal to supply more crude to a tight oil market and cool soaring prices.

OPEC+ plans new output policy meeting on Sunday, sources say

Brent oil rose above $77 a barrel for the first time since 2018 after OPEC+ failed to reach an agreement on bringing back curtailed output, leaving the market with tighter supplies than expected.

World Business Watch: Brent oil jumps $77 after OPEC+ fails to reach output deal

As producers balance expectations of a recovery in demand against a possible increase in Iranian supply, OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday.

World Business Watch: OPEC+ likely to stick with current supply plan, sees orderly Iran return

Oil prices rose on Thursday on optimism over a U.S. government spending plan and hopes that OPEC and its allies will keep production curbs in place when they meet on Thursday.

Oil up as OPEC+ meets to decide on production policy

A decision by OPEC+ to continue with an output cut would undermine consumption-led recovery and hurt consumers in oil buying nations, Indian oil minister Dharmendra Pradhan told Reuters on Friday.

India says OPEC+ decision to hit consumption-led recovery, hurt customers

Saudi Arabia is considering extending its voluntary oil production cuts by one month into April, an OPEC+ source said on Thursday as the kingdom and Russia said oil markets recovery was still fragile.

Saudi Arabia offers to extend oil cuts as OPEC+ weighs rollover

Members of the OPEC group of oil producers and their allies met Wednesday and expressed confidence in prospects for a global economic recovery and attendant rise in crude oil demand.

OPEC+ 'optimistic' for 2021 rebound in oil demand

Members of the OPEC group of oil producers and their partners will meet via videoconference on Monday to decide on production levels for February, hoping to turn the corner on a difficult year.

New Year OPEC+ meeting to decide production levels

A panel of OPEC+, a group of leading oil producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week. According to Reuters, OPEC+ is debating whether to ease oil output cuts from January 1, as it previously agreed, or to continue producing at the same rate amid sluggish oil demand and fallout from the coronavirus pandemic.

OPEC+ panel to hold informal online talks on Nov 28

OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.

OPEC, Russia extend record oil cuts to end of July

OPEC and its allies led by Russia meet on Saturday over plans to extend record oil production cuts and to push countries such as Iraq and Nigeria to comply better with existing curbs.

OPEC, Russia meet to extend record oil cuts, push for compliance

OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to approve a new approach that aims to force laggards such as Iraq and Nigeria to comply better with the existing curbs.

OPEC+ to meet on Saturday on extending cuts, pushing for compliance

opec-0

Opec+, News on Opec+, stories on Opec+, articles on Opec+, Opec+ stories at Wion, Opec+ news, Opec+ latest news

opec 0