Crude oil production among members of OPEC has this year collapsed to a generational low, at just 16.13 million barrels daily, Reuters reported, citing a regular survey it conducts on OPEC production.

LONDON, June 11 (Reuters) - OPEC on Thursday lowered its forecast for world oil demand growth in 2026 to 970,000 barrels per day, the producer group said in its monthly report, marking the second ...

The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil stranded by the effective shutdown of the Strait of Hormuz. By Lisa Friedman ...

ST PETERSBURG, June 4 (Reuters) - OPEC expects robust oil demand growth and is not changing its estimates, ‌Secretary General Haitham Al Ghais said on Thursday at the St Petersburg International ...

OPEC and its allies agreed to raise oil output again in a move widely seen as symbolic as the war in the Middle East has choked off a critical waterway through which a fifth of the world’s oil passes.

War between a U.S.-Israeli alliance and Iran has taken a heavy toll on oil supplies from the Middle East. OPEC crude output fell last month, hitting its lowest level in decades as the US blockade of ...

Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market. The Iran ...

OPEC+ agreed on Sunday to a fourth increase in its oil output targets in as many months, even though the U.S. war with Iran is still preventing several of the group's members from pumping more. The ...

OPEC+ this Sunday decided to add another 188,000 barrels of crude to its collective production next month despite the ongoing disruption in the Middle East resulting from the U.S. and Israeli war ...

With key Gulf oil producers shut out of the global market, pledges to raise output in a bid to ease spiralling prices are unlikely to sway traders — Brandon Bell OPEC+ ministers meet Sunday to weigh ...

ORLANDO - Sean Sweeney has been named head coach of the Orlando Magic, President of Basketball Operations Jeff Weltman announced today. He becomes the 16th head coach in franchise history. “We’re ...

Iran and Israel traded strikes for the first time since the April ceasefire. President Donald Trump tried to keep the violence from escalating. Iran's Foreign Ministry told CNBC Tehran had ceased its ...