Organization of Petroleum Exporting Countries (OPEC) members and its allies have been urged to boost compliance with oil output cuts aimed at supporting prices. According to the details, Energy Minister Prince Abdulaziz Bin Salman, while chairing the 21st Joint Ministerial Monitoring Committee (JMMC) meeting via videoconference urged (OPEC) members and allies to boost compliance with oil … Read more
Production cartel Opec and Russia are expected to meet today to discuss the oil cuts, however experts warned that prices may fall. According to the details, members of both sides, widely expected to stick with their previously agreed plan to scale back production cuts to 7.7 million barrels per day (bpd) at the end of this … Read more
A day after (Organization of the Petroleum Exporting Countries) OPEC and non-OPEC oil producers agreed to extend record oil production cuts until the end of July, Major stock markets in the Gulf rose sharply on Sunday. Media reports said that OPEC and other producers led by Russia, a grouping is known as OPEC+, demanded countries … Read more
Cabinet of Saudi Arabia has urged oil producing nations not only to cling to agreed cuts to production, but also further reduce output to help restore balance in global oil markets. In a recent statement, Cabinet of Saudi Arabia said the Kingdom is committed to supporting the stability of global oil markets. Minister of Media … Read more
Oil Prices in international market has jumped more than $1 a barrel after major producers agreed to put biggest ever output cut. Media reports said The Organization of the Petroleum Exporting Countries (OPEC) and its allies finally agreed their biggest-ever output cut that spiked prices of oil one dollar per barrel. The oil producers has … Read more
A final OPEC+ oil supply pact that is to reduce 10 million barrels daily (BPD) awaits Mexico joining said energy minister of Saudia Arabia. The pact was agreed on Thursday. Sources further add on the story that a group called OPEC+ has Russia and other allies devised a plan. The plan includes cutting over the … Read more
King Salman of Saudi Arabia held a telephonic conversation with Presidents of America and Russian, Donald Trump and Vladimir Putin and reviewed the importance of cooperation between oil producing countries. Arab media reported that Saudi Arabia’s King Salman along with Donald Trump and Vladimir Putin reviewed he importance of cooperation between oil producing countries, after … Read more
