OPEC

Saudi Arabia responds to US allegations as OPEC cuts 2 million oil barrels

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Saudi Arabia has denied allusion to energy weaponization, as the US accuses OPEC of siding with Russia and reducing 2 million barrels/day in oil.

Middle Eastern oil-rich country buys Russian gas, plans to build OPEC-style bloc

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Iran's Oil and Gas Ministry has announced that Tehran will soon import 9 million cubic meters of Russian gas per day via Azerbaijan.

The actions of Russia and OPEC+ increase oil prices

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OPEC and its oil producers, including Russia, have agreed to cut 100,000 barrels per day to support oil prices.

OPEC talks about oil export competition with Russia

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The new secretary general of the Organization of the Petroleum Exporting Countries (OPEC) emphasized Russia's important role in OPEC+.

Banning Russian oil and gas could cause the worst shock in history

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OPEC has warned the EU that there is no replacement for Russian oil and that a ban would cause the worst shock in history.

Demand recovers, oil prices are expected to continue to escalate in 2022

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World oil prices are forecast to continue to escalate in the context that most oil and gas companies only expand production at a narrow range despite high demand.