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OPEC

Economy

IEA warns European diesel prices could rise as crunch lasts into 2027

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Economy

OPEC+ agrees another modest output rise as oil prices continue to fall

Seven countries in the OPEC+ alliance agreed to lift their combined oil output by a modest 188,000 barrels per day in August, adding supply just as crude prices slide back to levels not seen since before the Iran war erupted.

Business

The UAE's OPEC exit puts Gulf oil unity to the test

The UAE's exit from OPEC signals a strategic shift, raising questions about Gulf coordination and the organisation's future.

Earth News

What could the UAE’s exit from OPEC mean for the climate?

The world's third-largest oil producer has the capacity to increase its output by almost 50 per cent, according to industry estimates.

Markets

Oil prices rise despite UAE exit from OPEC amid Iran ceasefire impasse

Oil markets are navigating a period of unprecedented volatility after the UAE announced its withdrawal from OPEC and the OPEC+.

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United Arab Emirates

UAE leaves OPEC, citing national interest in 'a new energy age'

The UAE’s historic decision is a major blow to the alliance of oil producers, just as the global energy crisis is escalating over Iran’s blockade of the Strait of Hormuz, but the Gulf state insists its decision “enhances the UAE’s ability to respond to evolving market needs."

Markets

European markets rise, oil prices jump on OPEC+ decision

Key European stock indexes started the week with gains, boosted by the oil sector and expectations for a range of corporate earnings this week.

Markets

Oil prices jump after OPEC+ announces modest monthly output hike

Analysts forecast that the rise may be short-lived as soft demand threatens a supply glut.

Markets

Oil prices rise on EU-US trade deal and Trump comments on Ukraine

US President Donald Trump said on Monday he was reducing a 50-day deadline given to Vladimir Putin to agree a deal with Ukraine. Oil prices had already risen on news of a EU-US trade deal.

Markets

Crude oil prices drop 6% as OPEC output rises and Trump's tariffs hit

Crude oil prices plummeted to near multi-year lows following President Trump’s reciprocal tariff announcement, with a larger-than-expected production increase by OPEC and its allies adding further pressure to the sell-off.

Business

Will tensions in the Middle East lead to another energy price shock?

Will tensions in the Middle East lead to another market price shock in Europe? Energy analyst Dr Yousef Alshammari shares his outlook on oil prices with Euronews Business.

Markets

Oil prices sink to nine-month low amid global economic uncertainty

Crude prices slumped following weak economic data from the US and China, which dampened demand outlooks. Risk-averse sentiment continued to dominate global markets.

Markets

OPEC+ oil giants extend oil output cuts amid economic uncertainty

Russia is among the countries announcing cut extension, announcing an additional voluntary reduction of 471,000 barrels per day for the second quarter.

Austria

OPEC members meet in Vienna to help stabilise world oil prices

Members of the oil producers group OPEC have met in Vienna to discuss future production of energy but reject pressure to invest less in fossil fuels

Austria

Saudi Arabia cuts production to boost oil prices

Saudi Arabia, an OPEC heavyweight, decided on Sunday to make a further cut in production in the hope of boosting slumping oil prices, against an economic backdrop overshadowed by the war in Ukraine.

Austria

OPEC+: Riyadh to reduce oil output, others to extend previous cuts

In order to keep crude oil prices stable on the world market, the OPEC+ countries, including heavyweight Russia, have agreed to maintain previous production cuts through 2024, while Saudi Arabia cuts output by 1 million barrels per day.

Austria

OPEC+ members meet in Vienna to discuss oil production strategy

The OPEC+ countries discuss their current production strategy in Vienna. New oil production cuts could result from the meeting as signs of discord between top crude oil producers Saudi Arabia and Russia set the tone of the talks.