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The Latest Breaking News from OPEC+

What Will It Take For OPEC+ To Increase Its Oil Output?

The worsening oil supply shortage in the wake of the Russian invasion of Ukraine has sent pump prices to record highs in recent weeks, sparking fears of a catastrophic global oil crisis and soaring inflation.

Benzinga

UAE Energy Minister Asserts Commitment to OPEC+ Agreement

The United Arab Emirates is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism, its energy minister said on Wednesday. “The UAE believes in the value OPEC+ brings to the oil market,” UAE Energy Minister Suhail al-Mazrouei said in remarks to WAM New Agency. OPEC+, comprising the…

Asharq Al-Awsat

Russian bond default ‘imminent’, as inflation jumps; markets surge as oil falls back – as it happened

UK announces new aviation sanctions against Russia and investigates plane at Farnborough

The Guardian - UK

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Oil price jumps to nearly $114; natural gas prices reach record highs – as it happened

US and European shares push higher, while rouble drops 8% and Moscow stock exchange stays shut for third day, as Russia bombards Ukrainian cities

The Guardian - UK

Oil Prices Soar On OPEC+ Vote, And Global Russian Oil Shift

OPEC+ decided to keep its production increase steady when it met Wednesday sending oil prices surging to an 11-year high amid Russia's invasion of Ukraine.

Investors Business Daily

Saudi Energy Minister: Kingdom Seeks Ensuring Immunity of Energy World’s Three Pillars

Saudi Energy Minister Prince Abdulaziz bin Salman confirmed that Saudi Arabia seeks to ensure the immunity of the three pillars of the energy world: securing necessary energy supplies, continuous economic development by providing reliable energy sources, and facing climate change. He underscored that these three pillars must be observed without…

Asharq Al-Awsat

OPEC+ Would Seek to Bring Iran into Oil Supply Deal

OPEC+ will work to integrate Iran into its oil supply-limiting accord should agreement be reached on reviving its nuclear deal with world powers, sources close to the group said, seeking to avoid market share competition that could hit prices. A successful outcome to the talks could lift US sanctions on…

Asharq Al-Awsat

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Saudi Arabia Pushes for Oil Market Balance, Stability

Saudi Arabia is exerting strenuous efforts to achieve the stability of the oil sector in the global economy, experts told Asharq Al-Awsat. Custodian of the Two Holy Mosques King Salman bin Abdulaziz stressed, during a telephone call with US President Joe Biden on Wednesday, the importance of maintaining the balance…

Asharq Al-Awsat

OPEC+ to Stick to Policy Despite Oil Price Rally

OPEC+ will likely stick to existing policies of moderate output increases even as it expects demand to rise to new peaks this year and as oil prices trade near their highest since 2014. The group, which comprises of the Organization of the Petroleum Exporting Countries and allies led by Russia…

Asharq Al-Awsat

OPEC+ backs another modest oil output hike despite surging prices

London (AFP) - Top oil-producing countries led by Saudi Arabia and Russia announced another modest increase in output on Wednesday despite soaring crude prices and geopolitical tensions rattling the markets.

AFP

OPEC+ eyes modest output boost despite price surge

London (AFP) - Top oil producing countries led by Saudi Arabia and Russia are expected to stick to their guns and announce another modest output increase on Wednesday despite soaring crude prices.

AFP

Oil producers discuss production levels as prices hit seven-year high

Ministers from the OPEC+ group of oil-producing countries are meeting on Wednesday to discuss supply levels, as prices have soared to their highest since 2014. The 23 states are responsible for more than 40 percent of global oil production. Prices have jumped in recent months, as supply has failed to…

France 24

Stocks advance on strong earnings, oil flat before OPEC+

London (AFP) - European stock markets rose Wednesday following strong global earnings that lifted Asian and Wall Street equities overnight.

AFP

OPEC+ decides oil output amid concern over Russia, Ukraine

Major oil-producing countries are deciding how much crude to pump to the world next month

The Independent UK

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Asharq Al-Awsat

OPEC+ Expected to Stick to Planned March Output Target Increase

OPEC+ will probably stick with a planned increase in its oil output target for March when it meets on Wednesday next week, several sources from the producer group said, as it sees demand recovering despite downside risks from the pandemic and looming interest rate rises. While two sources from the…

StockNews.com

4 Best Energy ETFs That Pay Dividends

Despite OPEC and its allies’ (aka OPEC+) plans to raise their oil production output target beginning in February, rising demand for oil and natural gas in the recovering global economy should accelerate the performance of energy companies. Therefore, we think dividend-paying ETFs Energy Select Sector SPDR Fund (XLE), Vanguard Energy…

Asharq Al-Awsat

Saudi Energy Minister Says OPEC+ Has Done a Lot to Stabilize Global Energy Markets

Saudi Energy Minister Prince Abdulaziz bin Salman said the Organization of Petroleum Exporting Countries (OPEC) and its allies, referred to as OPEC+, have "done a lot" to stabilize global energy markets. Speaking about energy security at the Abu Dhabi Sustainability Week Summit at Expo 2020 in Dubai, the minister added:…

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