Advertisement
Advertisement
TOPIC

Organization of the Petroleum Exporting Countries (Opec)

Organization of the Petroleum Exporting Countries (Opec)
The latest news, analysis and opinion on Organization of the Petroleum Exporting Countries (Opec). In-depth analysis, industry insights and expert opinion.
Plumes of smoke rise from an oil facility in Fujairah, United Arab Emirates, on March 14. Photo: AP
Middle East

Opinion | The problem no one is naming as the UAE dramatically exits Opec

The fighting over oil production quotas was the symptom. Security realignment is the disease.

videocam
Middle East

Letters | UAE’s Opec exit reflects a complex world

Banking & finance

Macroscope | Mini-crises sparked by the Iran war may add up to a big collapse

videocam
China energy security

Why China may benefit from the UAE’s Opec withdrawal

Beijing may have access to increased supply – though Strait of Hormuz disruption remains a serious constraint, analysts say.

videocam
6
A model of an oil pump is seen in front of the Opec logo in this illustration taken January 9. Photo: Reuters
US, Israel war on Iran

Why UAE’s exit from Opec is good news for oil-thirsty Asia

Once free of Opec’s production caps, the world’s sixth-largest oil producer plans to flood the market with 5 million barrels a day.

videocam
Energy

Opec agrees to output increase, moderates plans due to glut fears

Opec has raised output targets by more than 2.7 million bpd since April but slowed the pace in October and November amid predictions of oversupply.

Advertisement
Advertisement
Advertisement
Energy

Key Opec members send ‘big message’ with higher oil production

Opec has in recent years implemented several output cuts amounting to a total of almost six million barrels per day.

videocam
Headquarters of Opec in Vienna, Austria. Oil ministers in Opec’s V8 grouping – comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman – will increase production by 137,000 barrels a day from October. Photo: AFP
Russia

Opec+ may speed oil output hikes amid Israel-Iran fighting: Rosneft head

Opec+ shocked oil markets in April by agreeing to an output hike for May despite weak prices and slowing demand.

Middle East

Opec+ agrees on sharp increase in July oil production to deepen price slump

The organisation will raise output by 411,000 barrels a day for the third month in a row, as it doubles down on policy shift.

Commodities

Will the free-falling oil price reorder the world’s energy landscape?

Brent crude, the global benchmark, tumbled 13 per cent through Thursday and Friday to just over US$66 a barrel.

A trader on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City, on April 2, 2025. Photo: AFP
Energy

Saudi Arabia hikes prices for all grades of Asia-bound crude oil

The hike highlights Saudi Arabia’s efforts to keep the market tight amid fading war risk in the Middle East, which has helped drive oil prices in London lower.

Storage tanks at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Photo: AP
Vladimir Putin

Russia’s Putin meets Saudi crown prince on whirlwind Gulf visit

The leaders discussed oil and the wars in Gaza and Ukraine, during a rare overseas trip by the Russian president.

Energy

Opec+ slashes oil output further to boost flagging prices

Saudi Arabia is extending its voluntary cut of 1 million barrels per day, Russia will slash exports by 500,000 barrels, with other members to make smaller cuts.

videocam
Energy

Will rising global oil prices be the catalyst for Asia’s green energy growth?

Asia has faced the brunt of fluctuating oil supplies following Russia’s invasion of Ukraine. And with few alternatives, Asian nations may have to bolster renewable energy development, observers said.

videocam
Analysts say that Asia needs to boost renewables as oil prices are set to rally. Photo: Shutterstock
Energy

Saudi Arabia to cut oil output by 1 million barrels per day

At an in-person Opec+ meeting at the group’s headquarters in Vienna on Sunday, Riyadh announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.

videocam
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for an OPEC+ meeting in Vienna, Austria on Sunday. Photo: Reuters
Asean

As I see it | Asia set for both gain and pain as reopened China soaks up oil demand

Oil markets appear set for another period of turbulence as Russia cuts output and China’s demand grows.

Energy

Opec+ agrees no change to oil policy, production targets

Opec+ maintained its oil policy amid Group of Seven nations’ price cap on Russian oil and a slowing Chinese economy.

videocam
Advertisement
Advertisement
Advertisement
Russia

Opec+ likely to maintain output levels despite sanctions on Russian oil

Oil-producing nations, including Russia, will review their decision in October to cut production by two million barrels per day, ahead of fresh sanctions against Moscow coming into force.

videocam
Oil pours out of a spout from Edwin Drake’s original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania US. Photo: Reuters/File
Climate change

Explainer | COP27: what’s on the UN climate talks agenda

There’s an awful lot to talk about at the conference, including how to protect our forests, how to pay for more clean energy, energy disruption caused by war, and compensation funds.

videocam
Saudi Arabia

As I see it | Biden’s values-based diplomacy tanks when it comes to US-Saudi ties

Joe Biden promised to make Saudi Arabia a ‘pariah’ for Jamal Khashoggi’s murder, but facing an oil crisis, the US president sought Riyadh’s help to increase output.

videocam
10
Joe Biden

Oil rises as Biden’s energy remarks fail to pacify markets

The president confirmed the US is releasing 15 million barrels from the strategic reserve but did not take measures to curb fuel exports.

videocam
US President Joe Biden speaks at the White House on Wednesday. Photo: EPA-EFE
Ukraine war

Putin and Saudi prince talk oil, just days after Biden’s Middle East trip

The conversation highlights the kingdom’s importance to both Russia and the US, as the Ukraine war roils global energy markets.

Saudi Arabia’s Crown Prince Mohammed bin Salman and Russia’s President Vladimir Putin attend the G20 Leaders’ Summit in Buenos Aires in November 2018. Photo: AFP
Diplomacy

Editorial | Middle East does not need alliance rivalry

Recent tour of region by US President Joe Biden spurred by demand for oil and aim not to leave ‘vacuum’ of influence that could be filled by China.

Saudi Arabia

Biden seeks to persuade Saudi Arabia to pump more oil as prices soar

Joe Biden will make his first visit as US president to Saudi Arabia this week, where he will seek to persuade Riyadh to pump more oil to bring down prices that are fuelling inflation to the highest levels in decades.

13
Africa

OPEC’S Secretary General Mohammad Barkindo dies at 63

Mohammad Barkindo was due to step down at the end of this month after six years in the top job at the Organization of the Petroleum Exporting Countries (Opec).

Mohammad Barkindo. File photo: AP
United States

US weighs releasing 180 million barrels of oil to combat inflation: sources

The news comes just before the OPEC+ group, which includes Saudi Arabia and Russia, meets to discuss reducing supply curbs.

videocam
An aerial photo shows an oil refinery in Illinois. Photo: EPA-EFE
Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement