OPEC

Oil rally to continue in 2022 as demand outstrips supply, analysts say
Middle East

Oil rally to continue in 2022 as demand outstrips supply, analysts say

LONDON, Jan 12 (Reuters) – Oil prices that rallied 50% in 2021 will power further ahead this year, some analysts…
Gulf rebound set as Saudi Arabia, UAE seen topping 4% growth in 2022
Middle East

Gulf rebound set as Saudi Arabia, UAE seen topping 4% growth in 2022

CAIRO, July 26 (Reuters) – The six economies in the Gulf Cooperation Council (GCC) are set to rebound and grow…
OPEC+ agrees oil supply boost after UAE wins argument with Saudi
Middle East

OPEC+ agrees oil supply boost after UAE wins argument with Saudi

MOSCOW/DUBAI/LONDON, July 18 (Reuters) – OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which…
Saudi, UAE reach compromise to unlock more oil supply, says source
Middle East

Saudi, UAE reach compromise to unlock more oil supply, says source

DUBAI/LONDON, July 14 (Reuters) – Saudi Arabia and the United Arab Emirates have reached a compromise over OPEC+ policy, an…
Oil nears three-year high after OPEC fireworks
Middle East

Oil nears three-year high after OPEC fireworks

LONDON, July 6 (Reuters) – Oil prices were heading towards three-year highs on Tuesday, towing petrocurrencies and bond yields with…
Analysis: Saudi $7 trillion investment goal puts spotlight on oil prices
Middle East

Analysis: Saudi $7 trillion investment goal puts spotlight on oil prices

DUBAI (Reuters) – In order to wean Saudi Arabia off its dependency on crude the kingdom needs higher oil prices.…
Power play – India wields oil ‘weapon’ to cut dependence on Saudi
Middle East

Power play – India wields oil ‘weapon’ to cut dependence on Saudi

NEW DELHI (Reuters) – When India’s government last month asked refiners to speed up diversification and reduce dependence on the…
Exclusive: India readies Saudi oil import cut as stand-off escalates – sources
Middle East

Exclusive: India readies Saudi oil import cut as stand-off escalates – sources

NEW DELHI (Reuters) – Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter…
‘I’ll believe it when I see it’ – Saudi Arabia doubts oil recovery and keeps taps tight
Middle East

‘I’ll believe it when I see it’ – Saudi Arabia doubts oil recovery and keeps taps tight

LONDON (Reuters) – This week’s surprise decision by Saudi Arabia and other top oil producers to broadly stick with output…
OPEC cartel, allies face decision on increasing oil output
Middle East

OPEC cartel, allies face decision on increasing oil output

FRANKFURT, Germany (AP) — Members of oil producer cartel OPEC and allied countries are weighing an increase in production now…
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