Tue, 21-Oct-2025

Opec+ likely to be cautious on oil demand at upcoming meeting

Opec

RIYADH: The Opec+ group is likely to take a cautious stance when deciding next week whether to go ahead with the planned production increases; following the discovery of a new Covid-19 variant, Arab News quoted Geneva-based oil trader Vitol Group, as saying. The new variant, named Omicron, has rattled the oil market globally, pushing prices down to … Read more

Opec+ delays technical meetings to review market conditions

Opec

RIYADH: The Organization of the Petroleum Exporting Countries and its allies, a grouping known as Opec+, is moving two technical meetings to later this week after oil’s rout last Friday, Bloomberg reported. The move seeks to allow its committees more time to evaluate the impact of a new strain of the coronavirus. A joint technical committee meeting … Read more