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Global oil price benchmark slumps to $19

The global oil price benchmark, Brent crude, has extended its decline, plummeting to $19 per barrel on Tuesday, amid the demand collapse caused by reduced

Business/Tech Touch

Global oil market undergoing ‘historic shock’- OPEC

The OPEC oil cartel said Thursday that the world market for crude is undergoing an unprecedented jolt due to coronavirus mitigation measures that have decimated


OPEC +: Despite Mexico’s negative response, Nigeria hopes for $15 oil price rebound

Nigeria said Friday that a “historic” agreement between major oil producers to cut output by 10 million barrels per day, if it goes forward, could

AWC Series

OPEC Conference: Algeria advocates immediate reduction in oil production

Algeria, which chairs the presidency of the OPEC Conference, has urged oil-producing countries to seize the opportunity of the meeting scheduled on 9 April in


Oil talks delayed as Saudi Arabia, Russia trade blames over price collapse

OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow


OPEC+ to reduce production cuts in August to 7.7 million barrels a day

The Organization of the Petroleum Exporting Countries (OPEC) and its allies have agreed to increase crude oil supply starting from next month, as demand continues to rise to pre-pandemic levels. OPEC+ agreed to reduce


OPEC+ sets June 22 deadline for non-compliant members

The Organisation of Petroleum Exporting Countries (OPEC) and its allies in the Declaration of Cooperation, called OPEC+, has set June 22 as deadline for non-compliant


Saudi, Russia extend oil cuts, demand sincere response from non-compliant producers

OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure

AWC Series

OPEC members cautioned against flouting production cuts

Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC),  Mohammed Barkindo, has urged member countries not to flout last April’s deal to cut their crude


Global Oil price rises to two-month high of $35

The international oil price benchmark, Brent crude, rose to its highest level since March on Monday as major oil producers cut their output levels and