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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

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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

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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

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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

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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

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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

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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