OPEC

The UAE and other oil producers on Sunday cut output to 40.46 million barrels per day till the end of the year, resulting in a spike in global oil prices. This is the second output cut by the Opec+ members in the past two months. On April…

The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to US…

Oil prices softened in early trade on Friday, weighed down by conflicting messages from Russia and Saudi Arabia ahead of the next policy meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, and a…

Gold prices fell on Monday after OPEC+ announced a cut to oil output, causing inflation concerns and raising the possibility of an interest rate hike at the upcoming May meeting of the US Federal Reserve. Spot gold dropped…

OPEC+'s surprise production cuts could push oil prices towards $100 per barrel, tighten the market, and encourage diversification of supplies, according to analysts and traders. Oil prices jumped over $4 per barrel…

Oil eased as risks to energy demand stemming from tighter monetary policy halted a rally triggered by Opec+'s decision to cut supply. West Texas Intermediate dropped below US$91 a barrel, with China's markets reopening following a…

The European Union was pushing ahead with an ambitious plan to limit Russia's oil revenue, but the Western effort to drain funding from President Vladimir Putin's war machine faced a new hurdle: Global oil producers on Wednesday decided to…

OPEC, Russia and allies were set on Saturday to extend record oil production cuts until the end of July after crude prices doubled in the past two months on the back of their efforts to withdraw almost 10% of global supplies from the…