OPEC+ Raises Oil Quotas for the Third Consecutive Time Amid UAE Exit and Hormuz Restrictions
Seven countries within the OPEC+ alliance will increase their targeted oil production levels by 188,000 barrels per day in June.…
OPEC+
OPEC+ raises oil production quotas after UAE’s exit in June
The OPEC+ countries have decided to make a slight increase in oil production quotas in June this year. This decision…
UAE Exits OPEC and OPEC+: Impact on the Oil Market and Energy Crisis
The United Arab Emirates has decided to leave the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, as announced…
OPEC Lowers Oil Demand Forecast Due to War in Iran and Market Impact
The Organization of the Petroleum Exporting Countries (OPEC) has announced a reduction in the forecast for global oil demand in…
OPEC+ Increases Oil Production Quotas for the Second Consecutive Time in May 2026
The member countries of the Organization of the Petroleum Exporting Countries and their partners in the OPEC+ format have decided…
Oil Production in Russia Declined Due to Drone Attacks, Sanctions, and Reduced Imports from China
In December of last year, oil production in the Russian Federation showed its first significant decline in the last year…
Oil Prices Rise Due to Supply Risks from Iran and Changes in Venezuela
On Monday, oil prices showed a slight increase amid escalating protests in Iran, raising concerns about the stability of supplies…
Global Oil Prices Rise After OPEC+ Decision and Saudi Arabia’s Price Cuts
Global oil prices are showing an increase after OPEC+ announced an increase in production, while Saudi Arabia lowered the price…
OPEC+ Suspends Oil Production Quota Increases at Russia’s Request Due to Sanctions
Countries within OPEC+ have decided to temporarily halt the increase of oil production quotas. This decision was made at the…
Russian Oil Exports by Sea Reach Record Levels in 28 Months Due to Attacks on Refineries
The volumes of crude oil exported by sea from the Russian Federation have reached their highest level in nearly two…